---
title: 🚨Very interesting comment by Bull Theory @BullTheoryio on why Bitcoin always dumps at 10 a.m. when the U.S. market opens ?
description: "Yesterday, Bitcoin erased 16 hours of gains in just 20 minutes after the US market opened.\n‼️ Since early November, BTC has dumped most of the time after US market opens. The same thing happened in Q2 and Q3.\n\n📌 @zerohedge has been calling this out repeatedly, and he thinks Jane Street is the most likely entity doing this.\n\nBull Theory then highlighted that when you look at the chart, the pattern is too consistent to ignore: a clean wipe out within an hour of the market opening followed by slow recovery. That’s classic high-frequency execution.\n\nThey add that it actually fit their profile:\n• Jane Street is one of the largest high-frequency trading firms in the world.\n• They have the speed and liquidity to move markets for a few minutes.\n\nThey then assume (this is NOT verified) that what Jane Street does in a consistent manner is the following:\n1. Dump BTC at the open.\n2. Push the price into liquidity pockets.\n3. Re-enter lower.\n4. Repeat daily.\n\nAnd by doing this, they might have accumulated billions in $BTC.\nAs of now, Jane Street holds $2.5B worth of BlackRock’s IBIT ETF, their 5th largest position.\n\nDoes it mean that the dump in BTC isn't due to macro weakness but due to manipulation by one major entity???\n\nWhat’s your take?"
---

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# [🚨Very interesting comment by Bull Theory @BullTheoryio on why Bitcoin always dumps at 10 a.m. when the U.S. market opens ?](https://blog.syzgroup.com/syz-the-moment/very-interesting-comment-by-bull-theory-bulltheoryio-on-why-bitcoin-always-dumps-at-10-a.m.-when-the-u.s.-market-opens)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Dec 9, 2025, 4:07:18 PM

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