In the 7+ years I've been in the cryptocurrency space, I've rarely if ever seen rational reasons for why prices do anything. Occasionally hacks lead to price swings, but mostly it's just post hoc rationalizations. In this case, I don't know what happened, but I imagine some who don't like Hive wanted to make a point by obtaining Hive and dumping on the market and keeping the sell pressure there to keep the price low.
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Not speculating on who that someone might be, eh? ;P