Basically because of this:
Quote
India's Finance Minister Arun Jaitley said the country wants to "eliminate" the use of digital currencies in criminal activities, signaling tighter regulation in the country.
India alone, cannot have that much invested in Bitcoin, to have such a huge impact on the price. This looks like a scenario
where something triggered a dump {possibly India} and then a bunch of trigger happy Bots, selling as the price goes down.
These investors are probably not even online when this is happening. The Bots are just acting on their own and going Willbot
in reverse now.
But now if we see any major changes in BTC price then we can consider this news.