Not to mention, MatTheCat never seems to ponder the obvious truth that a few whale traders have multiple accounts on different international exchanges (e.g., Whale #1 has a trading account on both Bitstamp and Huobi, thus being able to play sides of the rally on multiple exchanges simultaneously). So saying that "China is leading this rally, not the other nations" is misleading and possibly just plan wrong.
No! Go away with your "logic" and "common sense". This is all led by Chairman Mao's Market Manipulation Brigade (CM
3B). You'll see in time!
(it's actually kind of funny, because Mat could make a valid point about how Chinese exchanges still
do have the capacity to throw us back a long way, if and when their actual volume declines to a trickle of what it is now. there is after all a real contribution to current buying pressure by China, and if that were to stop, I'm sure price would be affected. But, no, that's way too complicated an explanation for old Mat of course: instead "China leads each and every move" it is.)