Institutional “10 AM Dumps” Theory Collides With Bearish Macro Warnings | US Crypto News
Crypto markets face conflicting narratives: bearish macro warnings versus rumors of institutional 10 AM selling dumps.Summary
The current crypto market narrative is split between two major forces: growing macroeconomic caution suggesting pressure on risk assets, and speculation regarding institutional trading behavior. Macro strategist Mike McGlone warned that Bitcoin's price action might reflect broader financial risks, noting its current mean near $66,000 but historical clustering near $28,000, and suggesting falling prices could signal a "reverse wealth effect" leading to tighter liquidity. Simultaneously, rumors persist in trading circles, amplified by commentators like Milk Road, alleging that certain institutional desks execute coordinated selloffs around 10 a.m. ET to trigger liquidations and then buy back assets cheaply. This speculation is fueled by disclosures showing firms like Jane Street are major buyers of Bitcoin ETFs like IBIT, raising questions about whether institutional flows are primarily supportive or manipulative in the short term, potentially eroding retail confidence.
(Source：BeInCrypto)