I really can't understand why would they want to do the buybacks now if they could really buy at 0.0002s and 0.0003s when it was dormant there for such a long time!
No, it was people getting shaken out. IMO it's people that trade using time and sales. They see all that action and think OH SHIT, I better sell!!! Because level 2 didn't really collapse at all during those sells.