The fact that the dumper picked the slowest time of the week for bitcoin, screams manipulation. All the bulls that want to hold up the price, but are still looking for cheap coins, aren't around right now, which is why the slow rebound.
The weekend dip is back, meaning manipulation is overpowering users/speculators.
This whole downward movement started last Sat/Sun and I mentioned the same thing. Most people said it wasn't true, but here again it happens.
This whole down movement started in April just after we hit $266, it's still playing out and it's not over yet.
Yes, in the bigger picture, but to get something to start moving, you can manipulate easier (up or down) on a weekend.
Look at the chart, last Sat/Sun started things and then it slowly kept going.
Again, here we are on Sunday and someone decides to sell lots. Why? Why do it on a low volume day when many are not trading?
It is not a conspiracy, nothing crazy, just pretty matter of fact. If you have lots of coins, you DON'T try to sell them on a weekend.
BTC is so emotionally driven, and has such low float, she over reacts in these areas...