Analysts reject Jane Street ‘10 a.m. dump’ claims, say Bitcoin isn’t easily manipulated

CoinTelegraph

by Zoltan Vardai

February 26, 2026

AI-Generated Deep Dive Summary

Crypto traders have recently accused quantitative trading firm Jane Street of causing daily Bitcoin price dips through a programmatic sell-off at 10 a.m. Eastern Standard Time, allegedly manipulating the market to buy an ETF at a discount. However, analysts argue that such manipulation is unlikely, as Bitcoin’s decentralized nature makes it resistant to prolonged bear markets controlled by a single entity. Market data and expert analysis suggest that the price drops align with broader risk-repricing trends rather than coordinated selling by Jane Street. The claims gained traction after Terraform Labs’ court-appointed administrator filed a lawsuit against Jane Street, alleging insider trading linked to the collapse of Terra’s stablecoin ecosystem in May 2022. Influencers like Justin Bechler have speculated that Jane Street holds BlackRock’s iShares Bitcoin Trust ETF (IBIT) and uses complex hedges to mask a net short position on Bitcoin. This theory posits that Jane Street sells Bitcoin at specific times to lower its price, enabling them to purchase the ETF at a discount while profiting from their short position. Analysts counter these claims by emphasizing that Bitcoin’s market dynamics are shaped by global macroeconomic factors and investor sentiment, not the actions of one firm. While Jane Street is a significant player in quantitative trading, experts argue

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Originally published on CoinTelegraph on 2/26/2026