Bitcoin and Other Major Crypto Assets Surge, "10 AM Sell-Off" Rumors Pause After Jane Street Lawsuit

Odaily News On February 25th, the crypto market experienced one of its strongest single-day rebounds recently. Bitcoin, Ethereum, and Solana collectively rose, driving the total crypto market capitalization to increase by approximately $170 billion, bringing the total market cap close to $2.5 trillion.

Market data shows that Bitcoin once broke through the $70,000 mark, Ethereum rose over 13%, and Solana gained more than 15%. This rebound ended the sustained correction trend that had persisted since the highs of last October.

Market analysts believe this rally 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 appeared to be a phenomenon of concentrated Bitcoin sell-offs around 10 AM Eastern Time each day. Following the announcement of the lawsuit news, this pattern seems to have suddenly stopped.

However, there is currently no public evidence indicating that Jane Street indeed engaged in systematic Bitcoin selling at a fixed time. Nevertheless, the market generally believes that the expectation of reduced potential selling pressure has boosted investor sentiment in the short term.