🪙 The reason for the fall of bitcoin ($BTC) has finally been revealed.
For several months, $BTC has been crashing in the early hours of the American market opening — almost daily. This pattern caused liquidations and stifled rallies during high trading volume sessions.
Traders began to speculate that some highly qualified group of sellers was systematically suppressing the price. Jane Street, with assets under management of $650 billion due to its role in ETF arbitrage and market making, came under suspicion.
This week, a lawsuit against Jane Street, accusing insider trading during the Terra collapse, has once again drawn attention to the situation.
Interestingly, the usual drop at 10 AM did not occur after the legal news. Instead, $BTC surged by 3-7% in a clean breakout. For many traders, the absence of a drop became "confirmation" that Jane Street was manipulating. $BTC
