Someone just pumped BTC 100 USD
It is impossible for rational thinkers to make sense of this market: Whales and pump and dump entities have destroyed it.
In addition BTC pairs are on the way out and will make BTC worthless.
Actually Bitcoin high price increases are attracting different speculators to buy Bitcoin. Some of them then latter read and learn about Bitcoin and stay. Most when market settle down leave. So saying high volatility is bad is super wrong. It is what made Bitcoin so popular that fast.