Today we saw a huge spike surging on BTC vs USD. But the actual pump may have occurred due to a dump of USDT on Kraken. Bitfinex is the highest volume exchange of BTCUSD... but it actually does not trade USD, but USDT!
So everything works fine as long 1USD=1USDT... but right now, that is not the case.
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USDT price normalized on Kraken. Now Bitfinex is plain expensive. Judging by the volume, some one got a great deal on USDT. Total volume bought at lower price is clearly higher than volume sold.
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USDT is still oscillating. The difference matches that of Bitfinex and USD trading exchanges (~5%)