An intriguing reversal has occurred in the crypto market, активно discussed by traders and analysts. For several months, Bitcoin had displayed an almost mechanical pattern of behavior — a daily decline at the same time each day. And just as suddenly, that pattern disappeared.
Since October 2025, market participants had been observing регуляр sales of BTC around 10:00 a.m. U.S. Eastern Time — just minutes before the opening of the U.S. stock market. The pressure appeared systematic: the price declined on nearly every trading day, creating the impression of an algorithmic rather than emotional or news-driven factor. For many traders, this became part of their intraday strategy — the “morning dump” began to be воспринимed as a given.
The co-founders of the analytics platform Glassnode publicly suggested that the source of this pressure might have been Jane Street, one of the largest market makers in the world. Jane Street operates активно across equities, bonds, derivatives, and digital assets, providing liquidity and employing complex algorithmic strategies. The firm is known for the scale of its operations and its ability to influence short-term market dynamics through trading volume.
Notably, at the same time, bankrupt Terraform Labs — the company behind the collapse of the Terra ecosystem and the LUNA token in 2022 — filed a lawsuit against Jane Street. After the legal proceedings became public, the daily 10:00 a.m. BTC sell-offs unexpectedly stopped. The timing was too precise for the market to ignore.
Almost immediately after the regular pressure disappeared, Bitcoin began to rise and soon surpassed the $67,000 level. For some traders, this was confirmation of the hypothesis that the morning sell-offs had been systemic rather than random.
Cointelegraph suggested that amid the legal proceedings, Jane Street may have temporarily suspended or modified one of its algorithmic strategies. For large institutional players, legal risks often become a reason to reassess trading models — especially when their actions attract public and regulatory scrutiny.
https://cointelegraph.com/news/bitcoin-bounces-66k-rumors-swirl-jane-street-selling-algorithm
There is also a more pragmatic explanation. Public exposure alone can change market dynamics. If market participants begin to anticipate a “morning dump,” they adjust their behavior: reducing positions before 10:00 a.m. or opening short positions. As a result, a strategy that was previously profitable becomes less effective. Once information enters the public domain, the algorithm loses its element of surprise — and therefore its economic edge.
Jane Street’s official position remains firm: the company stated that all allegations are unfounded and opportunistic. No direct evidence has been presented proving that Jane Street was behind the регуляр BTC sales. The entire narrative is based on observations, timing coincidences, and analysis of market patterns.
Nevertheless, the situation raises an important question about the structure of the modern crypto market. Bitcoin has long been integrated into the global financial system and increasingly shows correlation with traditional markets. If the daily moves were indeed linked to the actions of a major market maker ahead of the U.S. stock market open, this underscores the degree of institutional influence on a cryptocurrency once considered fully decentralized and independent.
The story of the “10:00 dump” illustrates how algorithmic the market has become. Even a decentralized asset can be affected by centralized trading models. And the disappearance of the pattern following the publication of the lawsuit demonstrates that in the financial ecosystem, the information factor can sometimes influence price just as much as trading volume.
Whether the rally will remain sustainable without the morning pressure remains to be seen. But the fact that a multi-month pattern ended almost synchronously with legal news has already become one of the most discussed topics in the crypto community at the start of the year.
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