It looks like it was like a bull whale buying up bitcoins. But as there are bull whales buying bitcoins, there are also bear whales selling them. The effect of a Mt. Gox bear whale selling his coins we all experienced not so long ago. So the price could go down as fast as it rose, and it could even lower at that. The bottom line is that there is a lot of randomness in today's market, and given the low trading volumes most of the time recently, it is not that hard to move the price for a whale or semi-whale in the desired direction.