> [...] because a lot of the Chinese volume is driven by people that (i) ultimately want to obtain USD and (ii) spend their yuan on mining equipment? I guess I

> [...] because a lot of the Chinese volume is driven by people that (i) ultimately want to obtain USD and (ii) spend their yuan on mining equipment? I guess I'm saying that I don't buy this narrative. "Chinese volume" is people from all around the world trading on BTC China. Anyone can open an account there, not just Chinese people.