I would take the analysis with a grain of salt today, because we don't really know how much influence does the move by MT.Gox had earlier influenced prices and tat can't really be taken into account in an analysis and the assholes at mt.gox moved their bitcoins just as upbit was being raided so that makes me even more reluctant to take any analysis to understand what jyst happened to bitcoin prices...
In my opinion the price fell because of another big Korean BBQ being cooked over there by inefficient regulators and on top of that, in the middle of that mess mt.gox moved 8k~ bitcoins around and everyone got scared and started selling... A good old doze of FUD to be certain.