The dump was stopped by the Stampline (and the previous $430 level). We will probably follow the Stampline for a while.
Bitstamp:

wow that's escalated quickly, up $20 within a few hours, can anyone here to explain the reason?

Someone could be trying to prop the price up.
Huobi:

And it probably involves lent money (even if it started before all the money was lent).
Bitfinex USD swaps:

It seems I was right. The pump just delayed the dump. (Though we didn't actually go below the previous price level, so maybe it's too soon for me to gloat.)
Huobi:
