I think the whales and people or interests that can move crypto where they want it (to a large degree) use such Musk tweets and such as a pivot point to make their moves. It makes it look like Musk is moving the market, but really I don't think he is. Often times you will see supposed bad news and statements by governments piled on to bad news, and crypto falls. Then you will see some kind of bottom or capitulation and then the good news come out on top of more good news and the tide turns. This all could possibly be coordinated toward a purpose. For a good amount of time, I have thought and figured governments were already buyers and miners of crypto, but not telling anyone. Now with El Salvador, it is official that governments are directly involved. So you have many of the biggest financial interests in the world, to include governments, involved. I think such interests want to gain as big a foothold into crypto as they can moving forward and eventually own as much of it as they can.
Also, I have heard one youtuber (Bitcoin Ben - he has a lot of connections in crypto, from influencers to owners of major exchanges) mention a few times in the past that there is a private Telegram group where the people, like Musk (though I have no idea if he is in it), network and talk about crypto. I'd imagine such a group could facilitate loose coordination, even if it is just such people having the same understanding about crypto and where it is heading price wise etc.
edit added: And, imo, the big interest in crypto know all the supposedly key technical analysis (TA) points everyone is looking at as important and they use these points to make moves and also to put pressure on people to sell, if they can get people to sell.
