Bitcoin Fans Pin Blame on Jane Street for Price Slump

Bitcoin fans have proposed a conspiracy theory that Jane Street, a Wall Street firm, manipulated the market by engaging in ETF-related trading that depressed the price. However, the claims appear to be unfounded and lack substance. The theory suggests Jane Street dumped Bitcoin holdings at a given time every morning while holding short positions to benefit from the dip. Veteran market watchers have dismissed the theory, stating it makes little sense and misunderstands how derivatives and perps/futures work.