Bitcoin Smashing $70K: Did a Blockbuster Lawsuit Just Kill the Infamous “10 A.M. Dump” Forever?
Bitcoin is riding a wave of euphoria today, having made its most aggressive single day come back of the year and smashing through...
Quick overview
- Bitcoin has surged past $70,000, marking its most significant single-day comeback of the year and contributing to a total crypto market cap of $2.4 trillion.
- The sudden price increase coincides with a lawsuit against Jane Street, which is accused of manipulating Bitcoin prices during the Terra-Luna collapse.
- The disappearance of the notorious '10 a.m. dump' suggests that institutional selling pressure may have been a key factor in Bitcoin's recent struggles.
- Analysts are optimistic about sustained upward momentum if Bitcoin can maintain its position above $70,000, with potential targets of $74,000.
Bitcoin is riding a wave of euphoria today, having made its most aggressive single day come back of the year and smashing through that all-important $70,000 barrier. With it, the total crypto market cap has leapt towards a staggering $2.4 trillion.
In a wild 24 hours, over $170 billion in value just got added to the ecosystem, but the real story isn’t just the price – it’s the sudden and mysterious disappearance of that pesky trading pattern that’s been tormenting investors for months.
Wall Street’s invisible hand has suddenly been forced out of the shadows, and for the first time in weeks that 10:00 a.m. “death drop” just got replaced by a big fat green candle.
The Jane Street Scandal: A $1.7 Billion Market Manipulation?
The timing of the Bitcoin price surge isn’t a coincidence – it just so happens to coincide with a lawsuit that’s been filed against institutional giant Jane Street by the administrators of Terraform Labs’ liquidation.
Jane Street was running an algorithm that dumped Bitcoin every single morning at 10am. Every day. For months. Crashing the price. Liquidating retail. Buying back lower. Rinse and repeat.
The second they got sued it stopped. The 10am dump disappeared. Now Bitcoin just had the… https://t.co/bs2rzkCxUl
— Bark (@barkmeta) February 25, 2026
The lawsuit claims that Jane Street used inside information from Terraform Labs to fiddle with Bitcoin prices during the chaos of the Terra-Luna collapse. The bit that’s really key to market traders today is that investigators think Jane Street is also behind that notorious “10 a.m. dump” that’s been forcing Bitcoin prices lower every morning, giving the smart players a chance to jump in and buy at a discount.
Key Revelations from the Filing:
- The Break: An investigator called Bark noted a pretty impressive correlation: “The moment Jane Street got sued, the 10 a.m. dumps just stopped.”
- The Pattern: For weeks, Bitcoin would have a sudden and inexplicable flash crash at the start of the New York session, and then recover later, netting some smaller investors with those pesky stop-losses.
- The Relief: When the legal papers were filed, Bitcoin didn’t just stabilise – it actually started heading upwards, from the 10 a.m. mark.
Crypto rebound heating up! BTC just touched $70K before pulling back but alts are stealing the show
ETH +7%
SOL +7%+
UNI +15% on fee switch governance vote potential $27M+ revenue boostAltseason rotation incoming after Feb crash clear out? Bulls loading up! What’s your top… pic.twitter.com/P9w32c7tpz
— Joe (@0ximjoe) February 26, 2026
Crypto Market Rebounds to $2.4 Trillion: Is the Bear Market Finally Over?
Now that the artificial selling pressure seems to have vanished, the rest of the crypto market has followed Bitcoin’s 7% intraday surge. One analyst, Nonzee, says this isn’t just a “dead cat bounce” – it’s actually a real relief rally.
Analyst Eric Balchunas from Bloomberg reckons that the removal of this institutional “anchor” could be marking the start of some seriously sustained upward momentum. “When you remove a systematic seller from the equation, the natural demand finally gets to breathe”, Balchunas said.
| Market Metric | 24-Hour Change | Current Value |
| Bitcoin (BTC) | +7.2% | $70,450 |
| Total Crypto Cap | +$170 Billion | $2.4 Trillion |
| Sentiment | Shift to “Greed” | 68 (Fear & Greed Index) |
The “Schiff” Factor: Contrarians Go into Hiding
The sheer vertical move has left a lot of bears scrambling. Renowned gold bug and crypto-skeptic Peter Schiff had recently predicted more declines, pointing to the fact that Bitcoin had dropped 50% since last October.
But this latest development shows that the reality of today is that institutional manipulation – not lack of demand – might have been the root of the recent slump.
While the big picture experts still say that things like Fed liquidity and global tariffs remain the main long term drivers, the immediate “clearing” of the order books has given many investors a welcome entry point.
The Analysts Verdict: Watch the New York Open
For me, a professional analyst, my eyes are now glued to the New York Stock Exchange open. If Bitcoin continues to hold above $70,000 without that dreaded 10 a.m. drop-off, we’re looking at a “short squeeze” like we’ve never seen before.
Trade Idea: Keep an eye on the price to see if it can consolidate above $68,500. If it does, that suggests $74,000 could be the next stop. Also keep an eye on the Jane Street legal proceedings – any counter-claim or regulatory wrangling could add fresh volatility.
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