They appear to have been in fiat overnight and have woken up shocked that it's not yet in the sub-100 range and are now in buy back mode.
So much for the idea that the "number of Bitcoin users fewer than members of Kuwait airways frequent flyers club" and that bitcoin is insignificant and not going anywhere......http://insidebitcoins.com/news/russia-blacklists-bitcoin-websites/28688
like I said... I would not be surprised if bitcoin ended up between $50 and $74....
I believe it can only spike to a low price but not actually stay there. There are people who cashed BTCs from $600-$1000 range and would gladly buy "a few" back at 10-15x discount - to repeat what they've done in the past. The thing with cheap coins is that it doesn't need much money to sweep the offers.