I just zoomed in to the 1m chart and it seems as though someone did a market sell of ~590 bitcoin. That's like diving into the shallow end of a pool.
... who would do such a thing?
It could be a dumb mistake. Flash crashes can be really nice if you have the right buy order.
When I used to trade an exchange a lot I’d put something like 70% of my balance on a stupid low order and then trade with the rest, just as a way of separating my funds..
I would also put in stupid low orders before I went to sleep, or quit..
I caught a few really nice orders that way, especially remember 2 times on darkcoin which about doubled what I had in those orders..
We always figured somebody screwed up and missed a decimal, or accidentally put one too many or one too few numbers in their order..
Like if that guy was trying to place that sell at 69800, but accidentally missed a zero and sold at 6980, that’s what you’d see on the charts..
It happens..