As much as I think that insider trading is a possibility. Why would any insider trader/s smash the SP -10% in 10 mins. Wouldnt they try to trade in less noticeable way. Spread the trades.
Smells like pure price manipulation from some big players to scare the pants off everyone.
As Starlord suggested, it wasn't about shorting, (bc that would be too obvious a signal) just about taking profits, spreading fear and accumulating at lower prices.
Genius play if it's the case.
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