Probably coincidence - general market is up strongly too. Or, too hard to tell anyway.

You have to connect this to the market or the article. I certainly don’t believe Jane Street is keeping crypto down somehow. What kind of non-conspiracy theory are you proposing?

The article links to https://x.com/InvestWithD/status/2026381475776692426 which purportedly quotes a Jane Street insider that after pausing BTC activity, they expect BTC will go up.

I personally don't understand how any of this works.

The tweet used as the source is a troll. That guy uses the "I just got off the phone with..." template all the time to joke/troll about things going on in markets.

Ah, what a world.

I suspect this theory is cope from people who missed the top.

I bet that's the case. Crypto bros need a villain to justify being trigger-happy top buyers flooded by greed every time. Jane Street is particularly useful to KoLs who have been shilling crypto all the way down from the top. There is already strong confirmation bias from everyone yapping "See? You lost moniez because of market manipulation! I'm a successful trader (here is my paid substack and exchange reflink)"