Bitcoin is very swingy. If any movement starts, a ton of traders jump on that with margin funded longs or shorts, making it move fast and far. But they can't pay interest on it forever, and there is a real market for bitcoin underneath all the frenzy. So eventually they have to close their (in this case) shorts, adding buy pressure, and the price will rise back.

And it may look like it's in free fall right now, but if you look further back, there was a huge upward rally just a month ago. In reality, this is just losing a bit o the huge upswing it gained there, a reversion to the mean. Not free fall.