The selling pressure at 10 o'clock has disappeared. Have market makers pulled out?

Today’s crypto market felt like it hit the fast-forward button—BTC surged past the $70,000 mark, while ETH and SOL also performed strongly, with gains exceeding 13%. The most eye-catching development was the apparent disappearance of the “mechanical dump” that appeared every morning at 10 o'clock. Some immediately attributed this to the enforcement of the Jane Street lawsuit, suggesting market makers have stepped back.

Logically, this is plausible. When large market makers face legal issues, they tend to operate cautiously in the short term, naturally reducing their dumping activities. This releases short-term market sentiment, giving bulls a breather. However, we cannot completely rule out coincidence factors, such as institutional capital rotation or spontaneous short-term market consensus.

BTC breaking the $70,000 barrier undoubtedly triggered FOMO among investors. Psychologically, there’s a feeling of “finally getting the chance.” How long can this rebound sentiment last? Technical analysis shows that $70,000 is a psychological threshold and also a strong historical resistance level. If trading volume continues to grow, bulls may stabilize the situation; if volume remains insufficient, the rebound could be just a short-term correction.

Regarding coin selection, currently, BTC remains the safe haven, while ETH’s DeFi ecosystem and SOL’s efficient chain are also quite resilient. Additionally, some concept coins like AI and Layer2 tokens tend to rally when market sentiment is high. A short-term strategy could focus on mainstream coins, while also considering potential coins with clear application scenarios.

In summary: Was the halt in dumping at 10 o'clock due to lawsuit catalysts or spontaneous market adjustment? Regardless, bulls currently hold the upper hand. Short-term sentiment is hot, but key resistance levels still need volume confirmation.