Obviously, the market is being manipulated. The main exchanges can largely influence Bitcoin futures spot price cause they are actually the reference for futures contracts. The U.S. Commodity Futures Trading Commission (CFTC) just accused Coinbase, Kraken and Bitstamp of big market manipulation. That's one of the reason of today's flash crash.
Source:
https://www.newsbtc.com/2018/06/10/what-caused-a-flash-crypto-crash-to-wipe-15-billion-out-in-just-two-hours/
https://www.newsbtc.com/2018/06/09/cftc-demands-data-from-exchanges-related-to-bitcoin-price-manipulation-investigation/