The issue here is that the real data is known, intimately, by exchanges. The rest of us speculate. These moves are mostly retrenchment and speculative/sentimen

The issue here is that the real data is known, intimately, by exchanges. The rest of us speculate. These moves are mostly retrenchment and speculative/sentimental response to China messaging though. Consider -- if there was real, imminent concern that Chinese exchanges might be shut down and funds frozen, would the price at these exchanges fall or rise? It would rise, because getting BTC out is going to be far safer than fiat.