What I'm seeing is hard to show on a single Idea, but I suggest you setup a similar chart and go through the moves in the 1h timeframe (to better view cause and consequence).
It seems that for a certain time, the big majority margin position were right (and to me, at that time, it seems like there was one big player moving a very big position around).
But lately, it has gone the opposite way. Big majority positions chose the wrong side, and got liquidated whatever it took.
Remain careful.