On February 26, the cryptocurrency market experienced one of the strongest single-day rebounds in recent times, with Bitcoin, Ethereum, and Solana all rising collectively, driving the overall crypto market capitalization up by approximately $170 billion, bringing the total market cap close to $2.5 trillion.

According to HTX market data, Bitcoin briefly approached the $70,000 mark, Ethereum surged over 13%, and Solana increased by more than 15%. This rebound ended the ongoing correction trend that has been in place since the high point in October last year.

Market analysts believe that this rise is related to the recent insider trading lawsuit against market maker Jane Street. Some crypto market commentators pointed out that over the past few months, there have been suspected daily sell-offs of Bitcoin around 10 a.m. Eastern Time, and after the lawsuit news was announced, this pattern seemed to suddenly stop.

However, there is currently no public evidence to suggest that Jane Street has a fixed schedule of systematic Bitcoin sell-offs. Nonetheless, the market generally believes that the expectation of reduced potential selling pressure has boosted investor sentiment in the short term. $BTC