I find this indication quite interesting. It's the 1-Week MACD histogram for Bitcoin/USD. The thing is, I've NEVER seen it go so deep on the very first bar before. The only thing I've seen close to it is Monero crash in Autumn 2016 and even that was slower than this Bitcoin crash.

For me it lends credence to the idea that the market is being actively co-erced down to a pre-defined level by the same holders who hoovered up the coin on the way up. They may be playing both markets in concert (futures and cash). What may happen then is once they're ready to cover in the future's market they'll do the same thing in reverse - i.e. go long in futures, then come back to the cash market and drive it up to kingdom come, collecting cash in the futures market and bitcoins in the cash market. In this way the "institutionals" can strip ordinary traders of their holdings over time and build their positions.



This article seems to lend some credence to that idea: