Haciyev Reşit 
A notable claim has emerged regarding the recent strong recovery in the cryptocurrency market. Analysts suggest that a model that had been suppressing Bitcoin prices for months triggering sales at the same time each day has disappeared. Following this development, Bitcoin and altcoins saw a sharp surge, adding over $170 billion to the total crypto market capitalization. Market commentary indicates that the change is linked to the lawsuit filed against the U.S.-based market maker Jane Street and rising allegations of market manipulation.
Alleged Daily Selling Pressure on Bitcoin
According to circulating claims, one of the leading U.S. market makers, Jane Street, had been executing algorithmic sales every morning around 10:00 AM ET, putting downward pressure on Bitcoin prices. This time coincides shortly after the U.S. stock market opens, and the sales allegedly targeted periods of increased liquidity during the U.S. session. Analysts say these regular sales continued for months, creating a persistent expectation of decline. The repeated daily price drops at the same hour led traders to perceive a “routine selling model.” It is claimed that during this period, retail investors were liquidated and prices were subsequently accumulated at lower levels, creating a cycle that suppressed short-term market trends and made it harder for Bitcoin to launch a sustained uptrend.
Interest Rekindled After Jane Street Lawsuit
These claims resurfaced following the lawsuit filed by Terraform Labs over the collapse of TerraUSD (UST) and Luna (LUNA) against Jane Street. Market observers noted that after the lawsuit, the previously recurring sudden drops around 10:00 AM ET disappeared, and Bitcoin began to recover.
Crypto commentator Bark shared on social media:
“Jane Street ran an algorithm every morning at 10:00 AM to push Bitcoin down. This went on for months. But as soon as the lawsuit was filed, it stopped. The 10:00 AM drops disappeared, and Bitcoin is having its best day in months.”
Analyst Support
Prominent macro analyst Roberto Rios expressed a similar view, stating that following the lawsuit, Bitcoin no longer fell after the U.S. market opened and selling pressure decreased. According to him, this contributed to relieving pressure on Bitcoin prices and aided its recovery. Glassnode co-founder Yann Allemann also remarked that after Jane Street’s case became public, the daily morning price drops “miraculously disappeared.”
While there is frequent discussion of significant Bitcoin sell-offs around 10:00 AM ET in recent months, there is no publicly verified evidence that Jane Street was systematically selling. Nevertheless, the change in price behavior after the lawsuit has drawn attention from market participants. Jane Street’s deletion of all posts from its official X account during this period further fueled speculation.
Has the Pressure on Bitcoin Eased?
Analysts suggest that the recent strong Bitcoin rally is influenced not only by technical factors but also by structural changes in the market. The lawsuit against Jane Street and allegations of manipulation may have reduced selling pressure, allowing prices to move more freely. However, experts emphasize that these claims are unverified, and market direction will continue to be influenced by macro developments and institutional capital flows.
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