A new theory has been making the rounds online: that Bitcoin is being deliberately pushed down every day at 10 a.m. Eastern Time.
Some social media users have pointed fingers at Jane Street, claiming the firm used an algorithm to sell Bitcoin at the same time each morning, triggering retail liquidations, scooping up coins at lower prices, and repeating the cycle. According to the narrative, the pattern mysteriously stopped once legal scrutiny intensified, and Bitcoin has since posted one of its strongest days in months.
But Jeff Park, an advisor at Bitwise Asset Management, says there’s simply no evidence to support it.
“No One Is Capping Bitcoin”
Park pushed back on the idea that institutions are coordinating to suppress prices during U.S. morning trading hours.
Instead, he argues that many observers are misunderstanding how Bitcoin ETFs and institutional trading actually work.
At the center of the confusion is the structure of spot Bitcoin ETFs. When demand for ETF shares increases, large firms known as authorized participants step in to create new shares. But they don’t always rush out and buy spot Bitcoin immediately.
Often, they hedge exposure first using futures or derivatives. The actual spot buying may happen later. That timing gap can make price action look strange in the short term — especially during heavy trading hours.
According to Park, what some are calling manipulation may simply be ETF mechanics and arbitrage doing what they’re designed to do.
- Also Read :
- Crypto Rally Alert: Expert Reveals How High Bitcoin, Ethereum and XRP Prices Could Climb
- ,
Why 10 A.M. Isn’t That Mysterious
There’s also a bigger market reality at play.
Ten o’clock in the morning comes shortly after U.S. stock markets open at 9:30 a.m. That’s when trading volumes surge, portfolios are adjusted, and institutional desks rebalance positions. Bitcoin has shown a strong correlation with the S&P 500, so equity-driven flows can spill into crypto almost instantly.
Bitcoin trades around the clock, but liquidity conditions change throughout the day. When U.S. participation ramps up, order books can shift quickly, making routine moves look more dramatic than they are.
Narrative vs. Market Structure
The idea of a coordinated “10 a.m. dump” is easy to share and hard to prove.
Markets move in patterns. Algorithms trade at set times. Liquidity shifts when major financial centers come online. That doesn’t automatically mean there’s a coordinated effort to cap prices.
For now, the viral theory remains just that — a theory.
And according to Park, the simpler explanation is often the right one: market structure, ETF flows, and macro trading dynamics are more than enough to explain the volatility.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
FAQs
There’s no verified evidence of coordinated 10 a.m. price suppression. Most moves align with U.S. market open volatility and ETF trading flows.
10 a.m. ET follows the U.S. stock market open. Higher trading volume, portfolio rebalancing, and ETF hedging can trigger short-term swings.
Algorithmic trading is common, but timing patterns alone don’t prove manipulation. Market structure and liquidity shifts explain most moves.
Bitcoin often reacts to macro trends and risk sentiment. When stocks move after market open, crypto can follow due to shared investor flows.
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.