I think it's China.
I am tired of hearing bad news about China. Every time the Chinese government has bad news, the whole cryptocurrency market will collapse. I hate this country. shit.
I agree, China have a big impact in cryptocurrency especially in mining bitcoin. As you noticed, in simply releasing news about cryptocurrency the market immediately crashes the whole market. I might consider that they can manipulate the crypto market. India have big influence in cryptocurrency. I noticed large of people living their know about cryptocurrency. These two countries are very aggressive and have sympathy what cryptocurrency doing in the world.