Analyst says data does not support patterned 10 a.m. Bitcoin dips

Crypto analyst Alex Krüger has pushed back against claims that market maker Jane Street is intentionally driving down Bitcoin's price through algorithmic selling at 10 a.m. U.S. time. Krüger stated on X that an analysis of BlackRock's spot Bitcoin ETF (IBIT) data since Jan. 1 of this year does not show a consistent downward pattern. He noted that the cumulative return between 10:00 a.m. and 10:30 a.m. was 0.9%, while the return between 10:00 a.m. and 10:15 a.m. was -1%. According to Krüger, these movements are similar to those of the Nasdaq and represent a broader price readjustment across risk assets. The analyst's comments come amid community rumors that Jane Street has been systematically suppressing the price of Bitcoin.