Oh come on, it didn't look like it was going to crash at all before this okcoin kamikaze move, we've been bumping up from 1400 CNY / 220 USD long enough to see it wasn't going to drop lower any time soon. This Chinese "drop" looks highly artificial to me - only huge dumps without accompanying smaller drops. Seems like nobody really wants to follow.
It looked like a single seller, but they seemed to be targeting 1400 CNY. I'm not saying the price will crash, just that they seemed to be panic selling. It looked like something someone would do when they want to sell a large amount above 1400 in a hurry. They could have been buying it up to get others to set bids before their next dump.
It could be a manipulator trying to look legit, I guess, but I think they would rather pretend to be multiple small sellers.