In simple terms, the recent controversy surrounding Jane Street and Bitcoin’s decline: - Terraform Labs’ bankruptcy trustee sued Jane Street (around Feb 23–24) for allegedly using insider information and market manipulation during the Terra-Luna collapse in 2022. - There had been a daily pattern of large Bitcoin sell-offs around 10 a.m. ET, just as U.S. markets opened → this pattern abruptly stopped immediately after the lawsuit news broke. - Result: Bitcoin price surged sharply—from $62K to $66K–$69K (a short-term gain of over 10%, with total crypto market cap rising by over $200B). Community reaction: → “Jane Street was the main culprit suppressing prices!” vs. “It’s not just one player—it’s an overinterpretation.” Key point from @brianhoonjong’s post: → “Thinking Bitcoin fell solely because of Jane Street is naive. The market is far larger. Just because the 10 a.m. dump stopped doesn’t mean Bitcoin will easily reach $126K.” In short: While the short-term rebound was triggered by this event, long-term bullish momentum depends on much larger factors—such as ETF approvals, institutional adoption, and macroeconomic conditions.