It's not as simple as it seems, because as the article says, China has the ability to harm the US, but if it goes in that direction, it will harm itself as well. Simply put, China depends on the US and vice versa, and all this pressure from the US is just an attempt to reach agreements that will be more favorable to the US than they have been so far.
Let’s just say it’s something that can happen gradually, they wouldn’t just dump their US treasury at a go or center their intentions on the fact that, it could harm the US. That would result in an unfair trade relations as a significant of China products do end up in the US. We can trace this to the imposed traffic on many nations and withdrawn aids by the current administration of the US government but, it’s not a reason for both nations to seek means to harm each others economy.
One thing is of certainty though, it would mean well for Bitcoin hodlers at a time.