Orders above 0.03BTC/BOT were cancelled on start. Because (I suppose) of the low supply and the - compared to other coins - cheap price, people set their buy orders at 0.03. Some more, some less. When the ICO started, the 120BTC worth of BOT were poured over the buy orders at 0.03.

If I recall correctly, there were ~140BTC of buy orders there, and BOT of 120BTC value was sold. I doubt it was even 60 or 30 seconds; it must have been sold instantly.