One less known source of the sell off is the PLUS token situation.
PLUS Token continues to dump its stolen Bitcoin (BTC) on the market. The move was correlated with the recent price drop which means the scam may have exacerbated Bitcoins losses yesterday. PLUS Token was among the largest scams in the cryptocurrency industry, and it continues to haunt the entire market. Repeatedly, the wallets linked to the scam have been dumping their holdings en masse and theres still a lot left to be sold off.
On average, the PLUS token scam has been selling off 1,300 BTC daily. This weekend, however, some 13,000 BTC ($118M) was moved to be sold off. The owners of this scam wallet did the same thing when Bitcoin crossed $10,000 earlier this year.
I'm sure that the recent economic sitation has played a part, but this one has gone unnoticed to most people. If you want to read the full article, you can click on the link below.
https://beincrypto.com/plus-token-scam-dumps-another-13000-btc-118m-may-be-responsible-for-bitcoin-drop/I think this is a reason that was overlooked by a lot of people in regards to the market crash, course the Caronavirus and oil price wars played a bigger part, but it just added to the perfect storm.
I also really like the news outlet the article is written by, I highly recommend their trading telegram channel as it gives free trading advice and it's a nice little community. If anyone is interested, the link to the channel is below.