I'm not exactly sure, but i thought the dump seemed to be initiated from the west. I was watching Bitstamp at the time, and it started dropping first.. OKCoin followed afterwards.
Or i could be talking complete bollocks..
I just caught that think about the PBoC meeting and so on. I don't think it's any reason to worry. Still, not nice seeing sudden downward moves like that!
I think it's just the usual "sell the news" reaction.. we'll be back climbing inside next 24 hrs or so. $1100 & €1000 in next 72 hrs. Lets see.