I think that it was "man made". I'd say that it has happened before too when - for certain events - peoples' expectations got fast too big.
This El Salvador story together with the great rise for the last 7-8 days have created a perfect storm we were too enthusiastic to see.

The result was:
* some actors dumping to move the price down
* possibly some actors cashing in their gains for the week to avoid risks
* many traders' stop orders kicking in and moving price even (much) lower

As you see, the bad actors have only started the avalanche, they didn't do all the job. Margin trading and stop orders not under continuous supervision have most probably doing the rest.


However, all this is only a theory. But it's not the first time I see this kind of development.