Did Jane Street Really Cause Today’s Bitcoin Drop?

#Bitcoin #JaneStreet #BTC $BTC #CryptoMarkets $ETH $ETC

ETH
ETH
2,965.74
-3.45%
ETC
ETC
--
--
BTC
BTC
86,215.73
-2.44%

Rumors about a “Jane Street 10 a.m. dump” returned today, but the data doesn’t support it. BTC traded steady during the US open, and the sharp drop came later in the session — not at 10 a.m.

Futures open interest stayed stable across major exchanges, with CME showing only mild risk reduction. No signs of aggressive institutional selling.

Instead, liquidations drove the move: over $430M across crypto, including $68M in BTC longs. Spot ETF outflows and a leverage flush explain the decline far better than a coordinated dump.

Market structure, not manipulation, shaped today’s volatility.