According to Odaily Odaily, on February 25th, the crypto market saw one of its strongest single-day rebounds in recent times, with Bitcoin, Ethereum, and Solana all rising, driving the overall crypto market capitalization up by approximately $170 billion, bringing the total market capitalization to nearly $2.5 trillion.
Market data shows that Bitcoin briefly broke through the $70,000 mark, Ethereum rose by more than 13%, and Solana rose by more than 15%. This rebound ended the previous continuous correction trend since the high point in October last year.
Market analysts believe the recent surge is related to the insider trading lawsuit against market maker Jane Street. Some crypto market commentators have pointed out that in the past few months, there had been a pattern of seemingly concentrated Bitcoin selling around 10 AM Eastern Time every day, but this pattern appeared to have stopped abruptly after the lawsuit was announced.
However, there is currently no publicly available evidence to suggest that Jane Street is systematically selling Bitcoin at fixed intervals. Nevertheless, the market generally believes that the expectation of reduced potential selling pressure has boosted investor sentiment in the short term.
