Monad co-founder refutes the claim that "Jane Street suppresses Bitcoin below $150,000": Shorting IBIT makes it difficult to push prices down unilaterally

CycleProphet · 2026-02-26T03:36:27+00:00

Monad co-founder Keone Hon responded to the conspiracy theory that "Jane Street is shorting Bitcoin," stating that it is unfounded. He pointed out that other market participants hold futures short positions and hedge through spot trading, and that Bitcoin's price is influenced by the overall supply and demand balance, and cannot be simply attributed to the actions of individual institutions.

CycleProphet

2026-02-26 03:36:27

Abstract generation in progress

Deep Tide TechFlow News, February 26 — In response to the market speculation that “Jane Street’s short selling caused Bitcoin not to reach $150,000,” Monad co-founder Keone Hon stated that this conspiracy theory is unfounded. He believes that if one shorts iShares Bitcoin Trust (IBIT) and hedges with Bitcoin futures, other market participants would naturally hold futures short positions on average and hedge through holding spot Bitcoin. From a delta exposure perspective, the total of all market positions always equals the current total supply of Bitcoin. Any single participant can choose to short, thereby increasing the long side of the market, but this is a common structural feature of perpetual contract markets and not unique to IBIT or authorized participants (APs). Keone Hon added that simply attributing Bitcoin price movements to the actions of individual market makers fundamentally overlooks the overall market hedging structure and supply-demand balancing mechanisms.

BTC1,96%

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