I'm now suspecting Gmax was the whale buying all along 
http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-December/011865.html
http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-December/011865.html
For the shorthand version, reference
Quote
TL;DR: I propose we work immediately towards the segwit 4MB block
soft-fork which increases capacity and scalability, and recent speedups
and incoming relay improvements make segwit a reasonable risk. BIP9
and segwit will also make further improvements easier and faster to
deploy. We’ll continue to set the stage for non-bandwidth-increase-based
scaling, while building additional tools that would make bandwidth
increases safer long term. Further work will prepare Bitcoin for further
increases, which will become possible when justified, while also providing
the groundwork to make them justifiable.
soft-fork which increases capacity and scalability, and recent speedups
and incoming relay improvements make segwit a reasonable risk. BIP9
and segwit will also make further improvements easier and faster to
deploy. We’ll continue to set the stage for non-bandwidth-increase-based
scaling, while building additional tools that would make bandwidth
increases safer long term. Further work will prepare Bitcoin for further
increases, which will become possible when justified, while also providing
the groundwork to make them justifiable.
Bitcoin is about to launch like a dragster
Whenever we get into a bouncing back and forth of within 2-4% of value, we need at least a double dose of volatility before our attention is raised.
Accordingly, currently, I will perk up below $380 or above $410.
