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Bitcoin As major cryptocurrencies surge, rumors of a "10 a.m. sell-off" following the Jane Street lawsuit have subsided
Svmuu News: On February 25, the crypto market experienced one of its strongest single-day rebounds in recent memory, with Bitcoin, Ethereum, and Solana all surging collectively. This drove the overall crypto market capitalization up by approximately $170 billion, bringing the total market cap to nearly $2.5 trillion.Market data shows that Bitcoin briefly broke through the $70,000 mark, Ethereum rose by more than 13%, and Solana gained over 15%. This rally ended the continuous correction trend that had persisted since the peak in October of last year.Market analysts believe this rally is linked to the recent insider trading lawsuit against market maker Jane Street. Some crypto market commentators have noted that over the past few months, there appeared to be a pattern of concentrated selling of Bitcoin every day at 10 a.m. Eastern Time, a pattern that seemed to abruptly stop after the lawsuit was announced.However, there is currently no public evidence indicating that Jane Street has indeed engaged in systematic, time-specific selling of Bitcoin. Nevertheless, the market widely believes that expectations of reduced potential selling pressure have boosted investor sentiment in the short term.
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