Sold off from that peak, quite strange for it to reverse not sure why completely but it could settle and rise from here.
Not that strange. "Too far, too fast."
The $34-35K zone has been a very important S/R area. There was lots of latent supply waiting to sell at/above that resistance, it just wasn't necessarily on the order book. After that short squeeze occurred, that latent supply started hitting exchanges and order books, forcing price back down.