it is mostly because of the manipulations.
when a big hack like bitfinex happened, there is obviously some small panic in the market but so many traders know this so they sell faster and that creates more panic and by the time the sales has begun the panic is at the top of itself and now everybody is selling and hence the big drop but since all those traders who sold the first chance will start buying the drop stops just as fast hence the one day drop.
i wouldn't be super excited yet. this is good sign that 605-610 is stayed for now but i wouldn't speculate much until it becomes more clear.