To me it seems like I'm suppose to think it's going down based solely on the ask orders but I can't identify any fundamental reasons why it should go down..
The fundamental reason it should go down is that pirate wants it to and lots of people are scared of him.
Pirate wants it to, maybe.
Lots of people are scared, not so much... and for each BTC in the hands of someone who's scared, there's a few dollars in the hands of those who want to buy.
Yeah, those are called speculators. |It is so obvious that pirate has some of the wall volume
imo, pirate himself has ~0 volume. it's just the concept of pirate that holds all the volume.
edit: oops, i read your post wrong. i read it as: pirate has some "off the wall" volume. lol