BlockBeats News, February 26th. The cryptocurrency market saw one of the strongest single-day rebounds recently, with Bitcoin, Ethereum, and Solana all rising, driving the overall cryptocurrency market cap up by around $170 billion to nearly $2.5 trillion.
According to HTX market data, Bitcoin surged to near $70,000, Ethereum rose by over 13%, and Solana saw a gain of over 15%. This round of rebounding ended the continued pullback trend since the peak in October last year.
Market analysts believe that this rise is related to the recent insider trading lawsuit against market maker Jane Street. Some cryptocurrency market commentators have pointed out that over the past few months, there appeared to be a pattern of suspected concentrated Bitcoin sell-offs around 10 a.m. Eastern Time, which suddenly stopped after the lawsuit news was announced.
However, there is currently no public evidence to prove that Jane Street indeed engaged in systematic Bitcoin sell-offs at a fixed time. Nevertheless, the market still generally believes that the expectation of reduced potential selling pressure has boosted investor sentiment in the short term.
