I'd say you have bigger 1d players wanting cheap coin.
MarvinMartian
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I always tend toward 5m and 15m so I can see the bot action.
You are correct, there are players wanting to come on board, and this is an opportunity for them, but you have to question why the exit? And a LARGE exit it was.
IvanLabrie
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Panic selling, typical at the end of bear markets, before the start of a new bullish one. Wyckoff would call it selling climax. That's my theory at least.
I'd say you have bigger 1d players wanting cheap coin.