Yeah really unsure who is buying right now. I can understand selling. I can understand holding. But not buying. Good thing I'm not The Market.
From a short-term speculative point of view, yes. But those starved of BTC recently who are focused on using them to conduct commerce may have been pleased to get a discount of up to $3.50 on their purchases.
Also many buyers may have layered their initial orders with smaller amounts at slightly discounted prices and larger amounts at lower prices, the latter of which may not be reached.
It seems the repeatedly delayed, unpredictable, and slow start to trading has avoided (or postponed) a frenzied drop in value that could have rapidly become self-reinforcing for a while.