Why does it rise?
Actually, there's no need to think too complicatedly. Don't think of some sacred mission to change the world; this is essentially a treacherous game of capital. And the core of the capital game is harvesting.
How to harvest? It's very simple, just by raising prices to stir up investor emotions and attract more people to buy in. If the price is raised high enough, over time, it will start to fall back. However, if the price consolidates at a relatively low level for long enough, especially when everyone is guessing it will continue to fall, the market may actually rebound. Why? Because this is a game of market emotions.
Conversely, when most people generally believe that the market will continue to rise, the market is likely to experience a downturn again. Why? Simply put, it's the big eating the small, the strong eating the weak. Large capital will control market sentiment, manipulate prices, attract retail investors, and then harvest their funds at the right time.