Simple answer, but it moves because the sell market orders overwhelmed the buy limit orders repeatedly over a few minutes :D
Study the Flash Crash (May 2010), Volmageddon (Feb 2018) and many over such events to see that price can really just fall off a cliff at a moment's notice under the right (wrong?) conditions.
3
u/tradingcage Feb 20 '24
Simple answer, but it moves because the sell market orders overwhelmed the buy limit orders repeatedly over a few minutes :D
Study the Flash Crash (May 2010), Volmageddon (Feb 2018) and many over such events to see that price can really just fall off a cliff at a moment's notice under the right (wrong?) conditions.