It's a pump by those who dumped BTC downward.
Traders worked together and pooled coins/borrowed coins. They waited for the moments when everyone went long, pressured price downward a little, helped with momentum when it started rolling over, took massive 50x positions and shorted all the way down. Went long 50x at the bottom and caught it while also rebuying on market as a catchers mitt. Helped rebound price while also in 50x, sold btc on the way up and set positions to close off 50x on way up. Started pumping LTC while going 50x on LTC. It's REALLY easy to move markets when you work together and reap absurd amounts of profit on 50x leverage.
Note: I heard the plans at 325.