Why does BTC always drop at 10 a.m. during the US stock market?

2025-12-09 06:52:18

Author: Bull Theory, Crypto Analyst; Translation: Jinse Finance

Today, Bitcoin erased 16 hours of gains in just 20 minutes after the US stock market opened.

Since early November, Bitcoin has almost always fallen after the US stock market opens. The same pattern occurred in Q2 and Q3 as well.

Zerohedge has pointed this out multiple times, suggesting that Jane Street is the most likely manipulator behind the scenes.

If you look at the chart, you’ll see this pattern is too consistent to ignore: the price plunges within the first hour after the open, then slowly recovers. This is a typical high-frequency trading tactic.

It also fits their profile:

Jane Street is one of the world’s largest high-frequency trading firms.
They have the speed and liquidity to move the market within minutes.

Their operation appears simple:

Sell Bitcoin at the open.
Push the price into areas with ample liquidity.
Buy back at a lower price.
Repeat daily.

In this way, they’ve accumulated billions of dollars in Bitcoin.

Currently, Jane Street holds $2.5 billion worth of BlackRock’s IBIT ETF, making them one of the top five holders of IBIT.

This means Bitcoin’s sharp drops are not caused by macroeconomic weakness, but are the result of manipulation by a large institution.

Once these big players stop buying, Bitcoin will continue to rise.

BTC0.09%

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