Maybe this has become a sharper down market trend for manipulation it could be and the pope can also do it, but with the influence of China can also happen because with every statement from China there is always an impact on the crypto market but I just think with downtrends like this it won't take long but it will take a long time to recover.
China is one of biggest influential country both in centralized and decentralized world so no doubt China makes this happen. There is also an FUD toward Binance that could be one of the reason of recent dump. As the issue being resolved and once everything is clear it should not take long time to recover as people should not care about FUD anymore, they should get more confidence and don't let any bad news easily affect them in the future.