Why? It's a sudden dam-burst moment of scared, unsure weak hands shitting the bed and dumping in unison, giving in because they don't understand, transferring the coins from these weak to much stronger hands of the hodlers (institutions and retail) who chad bought each and every coin they were willing to sell on flash sale all the way down to 51k.
A greater quotient of these coins are now held in greater, more believing hands of conviction, and will have better custodians for the continuation of this bull season and the long term. Maybe this dip helped someone get to that threshold they were reaching for.
The volatility was super low for weeks, this is the highest volume since late February for a single day and we're not done yet. I am thankful for the shakeup, a little blood in the streets to break stagnation, as things were getting kind of boring. This move is an acceleration of shaking weak, non-diamond hands and setting us up for the next leg up into the 70s, 80s, and beyond. Buckle in.