This is just a warning for those using high leverage and so you can more understand the risk of leverage trading. What you can see here is a liquidity grab, all the over leveraged traders getting washed out of the market. When you open a leveraged trade make sure you understand you are putting your money at risk.
This risk is very high with hype of the market, when you see everyone being so bullish on the market is when you have to be aware of the risks in leverage trading as you can expect there to be a lot of over leveraged traders.
Great analysis and hopefully an eye opener for people whom have not yet experienced this and are thinking about leveraging.
To give a sudden drop like this a positive twist: one could always place / update a buy order about 15~20% below the current price, depending on the currency (btc dumps are usually lower than alts), to take advantage of an unexpected drop and open some good long positions.