This is the first year that China is almost fully irrelevant is it not? It may not behave in the same way this time. Or it could be down to general human biocycles. Let us see what April/May ish brings.
well Lunar New Year is not specific to China. many of the Asian countries celebrate it. including China, Korea, Vietnam, Laos, Singapore,...
and it also happens to be in first month of the year (in a Gregorian calendar) and that can mean a slower market anyways.