Why PAXG has a downside spike but other GOLD charts don't?!?

Hello, newbie here was looking to trade PAXG gold on bybit ( with bearish bias) but I noticed this huge liquidity spike to the down side, which I don't see on other non crypto related Gold charts. Does anyone have any ideas why this is? It has scared me off going short and now I am thinking to go long instead. So confused. Take a look at this:



vs this!



Please can someone explain this to me? I thought it PAXG was a gold peg, but the spike doesn't seem to show up on gold's other price charts? Or am I just being a dumbass?

Uncle google cannot explain this to me. Here's to hoping someone with more experience can answer this burning question I have?

Thank you!