Odaily Planet Daily reports that on February 25th, the crypto market experienced one of its strongest single-day rebounds recently, with Bitcoin, Ethereum, and Solana all rising collectively, driving the overall crypto market capitalization up by about $170 billion, nearing a total market cap of $2.5 trillion.
Market data shows that Bitcoin briefly broke the $70,000 mark, Ethereum increased by over 13%, and Solana surged by more than 15%. This rebound ended the ongoing correction trend since the high point in October last year.
Market analysts believe that this rise is related to the recent insider trading lawsuit against market maker Jane Street. Some crypto market commentators have pointed out that over the past few months, there have been suspected daily sell-offs of Bitcoin around 10 a.m. Eastern Time, but after the lawsuit news was announced, this pattern seemed to suddenly stop.
However, there is currently no public evidence to suggest that Jane Street has systematically sold Bitcoin at fixed times. Nonetheless, the market generally believes that the expectation of reduced selling pressure has boosted investor sentiment in the short term.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Jane Street market manipulation rumors spark discussion on Bitcoin ETF mechanisms
Recent market speculation around Jane Street has sparked discussions about the trading mechanism of Bitcoin spot ETFs. Analysts point out that the subscription and redemption of spot ETFs can be carried out by authorized participants within a regulatory framework, without the need for immediate Bitcoin trading on the market. They may also hedge through derivatives such as futures, leading to a time lag between capital inflows and short-term price performance. This reflects that Bitcoin prices are being influenced by institutional trading venues.
GateNewsBot19m ago
Jane Street Speculation Renews Scrutiny of Bitcoin ETF Market Mechanics
In brief
Bitcoin ETF shares can be created or redeemed by authorized participants without requiring instant purchases or sales of Bitcoin on public exchanges.
Analysts say derivatives hedging and settlement timing can weaken the short-term link between ETF inflows and spot price
Decrypt28m ago
A fire occurred in Wenatchee, Washington State, which may be related to local Bitcoin mining activities.
BlockBeats News, February 26 — According to TheEnergyMag, a fire occurred in Wenatchee, Washington State, USA, suspected to be related to local Bitcoin mining activities. The local fire department has responded to the scene, and the specific extent of damage and whether there were any casualties have not yet been disclosed.
Relevant authorities are investigating the cause of the fire and whether the mining farm complies with local safety regulations. As of now, the name of the involved mining farm and the direct cause of the fire have not been disclosed.
GateNewsBot37m ago
BTC (Bitcoin) increased by 3.53% in the last 24 hours
Gate News Bot Message, February 26th, according to CoinMarketCap data, as of press time, BTC (Bitcoin) is trading at $68,369.70, up 3.53% in the past 24 hours, with a high of $69,953.53 and a low of $62,553.19. The 24-hour trading volume reached $52.55 billion. The current market capitalization is approximately $1,367.043 billion, an increase of $46.575 billion compared to yesterday.
BTC is an innovative payment network and a new form of currency. It operates using peer-to-peer technology without the involvement of central authorities or banks; transaction management and Bitcoin issuance are collectively handled by the entire network. BTC uses open-source design, meaning no one can own or control BTC, and everyone can participate. Through its unique features, BTC supports many functions that previous payment systems could not provide.
GateNewsBot37m ago
Gate Daily (February 26): Circle's financial report boosts stock price up by 35%; Kalshi heavily fines MrBeast-related editor
Bitcoin (BTC) rebounded to $68,480 on February 26, with Circle's stock price soaring over 35%, thanks to strong financial reports and growth in USDC circulation. Kalshi disclosed two insider trading cases, imposing heavy penalties on the involved parties. Overall market sentiment has improved, with U.S. stock indices generally rising, indicating a rebound in investor confidence.
MarketWhisper49m ago
