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Bitcoin Manipulation By Jane Street? Ex-Wall Street Market Maker Says No
🤖AI Summary
BlockTower founder Ari Paul debunks theories that Jane Street is manipulating Bitcoin prices to suppress higher valuations. Paul argues that Bitcoin's recent underperformance is better explained by large-scale spot selling from long-term holders rather than systematic market manipulation by Wall Street firms.
Key Takeaways
- →Ari Paul rejects claims that Jane Street is systematically suppressing Bitcoin prices through long-term manipulation.
- →Market makers can influence short-term price movements but typically only for seconds or minutes, not sustained periods.
- →Bitcoin's price decline is attributed to significant spot selling by original holders rather than manipulation.
- →On-chain analyst James Check supports this view, emphasizing that HODLers sold large amounts of Bitcoin into the market.
- →Jane Street faces separate legal issues with a lawsuit from Terraform Labs alleging insider trading related to Terra's 2022 collapse.
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#bitcoin#jane-street#market-manipulation#ari-paul#blocktower#hodlers#spot-selling#wall-street#terra#cryptocurrency
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