In my honest opinion, I don't think that the Chinese people are controlling the bitcoin because if they are really controlling it then we can see different abnormal pump and dump in the market to wipe out the other people's money. One thing for sure is, bitcoin is not manipulated by the Chinese and the market is now more free than before and it is now relying on law of demand and supply.
And congratulations, your opinion is correct because of China although it is a country with many advantages such as a large number of users and miners, combined with a strong economy but in general, the economy here is not based on bitcoin, it is based on many different industries. Very few people have a special interest in the value of bitcoin, the government is quite limited, if China really controls bitcoin, they have created a lot of turbulence in the market to influence the economics of other countries but fortunately, this permanent imbalance will not occur when everyone is in control of each other