Is Jane Street the cause of the Bitcoin drop at 10 AM today?
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Accusations of Jane Street manipulating the Bitcoin price at 10 AM have resurfaced on December 12, 2023.
Some information circulating about Jane Street continuously dumping Bitcoin at 10 AM daily has reappeared on December 12, 2023.
- Bitcoin did not record a significant sell-off exactly at 10 AM ET; the price drop occurred afterward and after several hours of sideways movement.
- Open interest in futures contracts remained almost unchanged, while liquidation data shows that the long positions leveraged by retail investors are the reason for the price drop, not aggressive short selling by large institutions.
- There is no evidence that Jane Street caused the volatility today; data shows this is a sell-off due to leverage, not market manipulation.
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