🔵Rumors that Jane Street allegedly triggers a daily Bitcoin “dump” around 10:00 a.m. ET resurfaced after a recent intraday price decline. The theory links the move to the opening of U.S. equity markets and Jane Street’s role as a market maker for spot Bitcoin ETFs. However, market data does not support the narrative of a deliberate, coordinated sell-off.
🔵Futures markets showed no sharp spike in short positioning, while open interest remained broadly stable. The price drop occurred later in the session and coincided with widespread long liquidations across the market, as well as ETF outflows. This pattern is far more consistent with a classic leverage unwind cascade rather than targeted price manipulation by a single.