if it was on the buy side, it's bullish. if it was on the sell side, it's bearish. i didn't get to see if it was on the bid or ask before it went off. however, looking at the action going from .40 to .41, it looks very much like it was indeed on the buy side.
that's a huge number of shares to go on the flip of a switch. either way, someone's bluff just got called.