I beleive both countries have a storage of the coin for long time purpose but I feel china could have threat due to recent USA interest. USA at a point last year announce the size of bitcoin in there portfolio, ridculous. Howewver, I feel Americans hold a large some of the coin in their wallet just to personal investment and store of value
Yeah, I think China save bitcoin more than US, We know big investors from China, mining too.
Likely China has interested in crypto but try to block or ban the mining.
It's just market strategy.
When there's negative issu, bitcoin price dropped the investors from two countries will buy more and hold.
So, don't care with negative issue.