China didn't follow that orchestrated BTC shakeout attempt since Huobi was still at $448 a minute ago.  The single entity pumping Eth is pretending to operate from a position of strength, but he's likely underwater even more from raising the Eth price.  He knows the $130 million denominated in Ethereum for the DAO is going to have a massive selloff causing the Eth price to crash on May 28th, so he's trying to raise the Eth price to find momentum traders to dump on before that date.

We will first see the Eth manipulator himself drop the hammer and dump, then the Eth DAO will dump even harder, then BTC halving will cause Eth to dump even more.  It's going to get real ugly for Eth soon.