#JaneStreet10AMDump
Analysts reject Jane Street's assertions about the "dump at 10 am" and claim that Bitcoin is not easy to manipulate.
Cryptocurrency investors accused the quantitative trading firm Jane Street of pressuring the price of Bitcoin with a daily programmatic sell at the opening of the U.S. market.
But market analysts and data suggest that the pattern is not consistent and no company can force Bitcoin into a prolonged bear market.
The claims emerged online a day after the court-appointed administrator of Terraform Labs sued Jane Street.
Alleging insider trading linked to transactions that worsened the collapse of Terra's algorithmic stablecoin ecosystem in May 2022.
Several market analysts, including cryptocurrency influencer Justin Bechler, have argued that Jane Street's participation in BlackRock's iShares Bitcoin Trust ETF, known as IBIT.
