Analyst refutes rumors of "Jane Street selling Bitcoin daily at 10 o'clock," says Bitcoin is not easily manipulated
PANews, February 26 — According to Cointelegraph, regarding market rumors that quantitative trading firm Jane Street manipulates bitcoin prices by programmatically selling at the opening of the US stock market each day, analysts say the data does not support this claim. The allegations stem from a lawsuit filed by the court-appointed administrator of Terraform Labs against Jane Street, accusing it of insider trading that exacerbated the collapse of the Terra algorithmic stablecoin ecosystem in May 2022. Some believe that Jane Street’s holdings of the BlackRock IBIT ETF may be masking net short positions through hedging not disclosed in public filings, and that coordinated algorithmic selling occurs daily at 10:00 AM Eastern Time.
Julio Moreno, Head of Research at CryptoQuant, pointed out that buying spot while selling futures is a common strategy for delta-neutral funds to capture price spreads, and is not unique to any single company. Macro analyst Alex Krüger refuted the “10 o’clock sell-off” theory through data analysis, showing that since January 1, bitcoin’s cumulative return from 10:00 to 10:30 AM Eastern Time is 0.9%, indicating no systematic selling. Price action during this period is correlated with the Nasdaq Index, reflecting broad-based repricing of risk assets. The co-founder of Coin Bureau stated that regardless of whether market manipulation exists, bitcoin’s price cannot be driven by a single company, and recent weakness should be attributed more to geopolitical uncertainty, global liquidity conditions, and competition in the AI sector.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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