Crypto Market Today: Bitcoin and Ethereum Pump After Jane Street Lawsuit
Bitcoin and Ethereum surged after a lawsuit against Jane Street coincided with the pause of a recent negative trading pattern.Summary
The cryptocurrency market experienced a positive shift today, with the total market capitalization increasing by nearly 3% to $2.27 trillion. Bitcoin rose by over 3%, trading around $66,200, while Ethereum saw a jump of close to 5%, reaching near $1,935. XRP and Solana also showed gains. This rally occurred shortly after Jane Street, a trading firm, was sued in connection with the 2022 Terra-Luna collapse, alleging the use of insider information for profit during the crisis.
Notably, the increase coincided with the cessation of a recurring pattern known as the “10 AM dump,” where Bitcoin typically experienced a sharp sell-off around 10 AM market hours. Some speculate a connection to the number 10, referencing the date of Luna’s collapse (May 10, 2022) and a significant liquidation event in October 2025. However, analysts emphasize that no confirmed evidence links the price action to the lawsuit, and market movements are influenced by various factors.
Despite the positive momentum, market conditions remain fragile, with the Fear & Greed Index still indicating “extreme fear.” Bitcoin is still below key resistance levels, and Ethereum is recovering from recent losses. Whether this rally marks the beginning of a sustained recovery or is merely a temporary bounce remains uncertain.
(Source：Coinpedia)