Monad Co-founder: Conspiracy Theory of Jane Street Suppressing Bitcoin Below $150,000 Doesn't Hold Water

Odaily News: Monad co-founder Keone Hon posted on platform X, stating that the conspiracy theory about Jane Street suppressing Bitcoin below $150,000 doesn't hold water. Hedging a short IBIT position with a long futures position means that, on average, other parties will end up holding the short futures position, and they must hedge that position with a long spot position. The sum of all positions in the market (converted to delta) always equals the total supply of Bitcoin (approximately 20 million). Of course, any party can independently decide to go short, thereby increasing the long positions. This is the case for all perpetual contract markets, but it has nothing to do with IBIT or APs.