Rumor Core: Recently, the crypto community has been buzzing that quantitative giant Jane Street is leveraging its special status as an authorized participant in Bitcoin ETFs to conduct algorithmic sell-offs after the US stock market opens (around 10 a.m. Eastern Time), in order to push prices down and trigger retail investor liquidations, thereby accumulating shares at lower prices. This "10 o'clock dump" pattern has been particularly evident from late 2025 to early 2026.

Latest Developments: As Jane Street faces lawsuits in February 2026 over insider trading allegations related to Terraform Labs, market observers have noted that the "10 o'clock sell-off" phenomenon seems to have disappeared, with Bitcoin prices showing a significant rebound. However, it is important to note that there is currently no public evidence directly confirming that this strategy is exclusively executed by Jane Street. Some analysts believe this may be a misinterpretation of market makers' hedging activities.