BREAKING: The 10am manipulation is back.
Bitcoin dropped $2,000 in 35 minutes and wiped out $40 billion from its market cap.
$132 million worth of longs have been liquidated in the past 60 minutes.
This is getting ridiculous.
And it fits their profile:
Jane Street is one of the largest high-frequency trading firms in the world.
They have the speed and liquidity to move markets for a few minutes.
The behavior looks simple:
1. Dump BTC at the open.
2. Push the price into liquidity pockets.
3. Re-enter lower.
4. Repeat daily.
And by doing this, they have accumulated billions in $BTC
As of now, Jane Street holds $2.5B worth of BlackRock's IBIT ETF, their 5th largest position.
This means most of the dump in BTC isn't due to macro weakness but due to manipulation by one major entity.
And once these big players are done with buying, BTC will continue its upward momentum.
