Analysts dispute claims of a daily Jane Street Bitcoin dump as spot Bitcoin ETFs post three days of inflows and DeFi debates shift to real revenue.
This week, rumors of a “10 a.m. Bitcoin dump” blamed on quantitative trading company Jane Street gained traction online after it was sued by Terraform Labs’ court-appointed administrator, but market watchers said the data does not support a consistent, company-driven selloff.
The accusations mounted a day after Jane Street was sued by Terraform Labs’ administrator amid allegations of insider trading that worsened the collapse of Terra’s algorithmic stablecoin ecosystem in May 2022.
Elsewhere in the market, demand for spot Bitcoin exchange-traded funds returned after five consecutive weeks of net negative outflows. US-listed spot Bitcoin ETFs took in over $1 billion in three consecutive days this week, with $254 million in cumulative inflows on Thursday, according to Farside Investors data.
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