It appears that the sell-off at 10 a.m. UTC, around 1:00 PM EET, truly stopped after Terraform Labs' lawsuit against Jane Street on February 24, 2026, for manipulation in 2022: daily BTC/altcoin dumps of $100–500M at 10–11 AM UTC disappeared, the market stabilized with a +9.2% increase in BTC and an influx of $1.2 billion into ETFs — a 95% correlation according to Artemis/Coinglass data. Legal pressure on market makers: Jane Street, top-MM Jump Trading/Cumberland, are accused of spoofing and algo-dumps during the Terra crash, with SEC and CFTC investigations plus whistleblowers and ex-Jane insiders forcing a pause; open interest shorts are down 15%, liquidated, but the risk of restart remains if resistance levels are exceeded. Evidence and impact data: Glassnode shows zero dumps since February 24 compared to over 25 consecutive days; BTC hourly candles are stable, volume is up 25% without sell spikes. Context: Similar to FTX 2022 — a lawsuit removed FUD, Nasdaq correlation with Nvidia and Circle fuels the rally; Terra lawsuit claims are pressuring market makers to reduce aggressive tactics.

BTC-1,83%
LUNA5,26%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)