Can we conclude that this sudden crash to ~750 in the Western exchanges was due to the news of Shrem's arrest?

Huobi was in the middle of a downtrend with occasional hiccups, but clearly it did not start that crash; and it reacted only slightly to it, presumably because of arbitrage trading.

It will be some time before the news of Shrem's arrest are translated and reported in Chinese media -- if they are at all.  Until this morning I had never heard of the guy, and presumably he and the Bitcoin Foundation are totally unnown in China. So perhaps the Chinese markets will just ignore the incident.