I think a large amount of bitcoin prices are attributed to western banks explaining to wealthy chinese how to transfer money out of the country on a large scale.

Bitcoins don’t work for that. If you want to buy bitcoins with Currency X you need to find somone that wants to sell bitcoins for Currency X. Similarly if you want to sell bitcoins for Currency Y you need somone to buy them in Currency Y. Net result you can’t get large net cash flows unless people can exchange currency X for Currency Y.

PS: Bitcoin mining is another story, but it’s little different than building anything in China and selling abroad.

Sincerely asking: Are you serious? Do you have sources, good or otherwise (even rumors or talk of this topic)?

What exactly is it that you think is happening, if I may ask? Does a Chinese citizen, perhaps vacationing in the US, walk into BoA or WF and ask a wealth management advisor how to move money to their newly opened account there?

yes.