Why did Bitcoin crash on BitMEX?

Why did the value of Bitcoin experience such a significant drop on the BitMEX platform? Could it be attributed to a sudden influx of sell orders, potentially triggered by panic selling from investors fearing a market downturn? Or did it stem from a technical glitch or malfunction on the BitMEX exchange, affecting trading algorithms and causing unexpected volatility? Were there any major news announcements or economic indicators released that could have spooked investors, leading to a mass exodus from the Bitcoin market? Furthermore, could this crash have been a result of a sophisticated manipulation strategy employed by large market makers, seeking to profit from a significant price drop? Clarifying the root cause of this Bitcoin crash on BitMEX would provide valuable insights into the cryptocurrency market and its dynamics.