Bitwise Chief Investment Officer Matt Hougan dismissed conspiracy theories blaming Jane Street and others for Bitcoin’s (CRYPTO: BTC) decline, arguing “a bunch of people who were long Bitcoin sold their Bitcoin exposure” as BTC consolidates between key Fibonacci levels.

The Boring Reality

Hougan on X pushed back against escalating conspiracy theories targeting different firms each week. 

“First it was Binance and then it was Wintermute and then it was an unknown offshore macro hedge fund and then it was paper bitcoin and today it is Jane Street and next week it will be someone else,” Hougan wrote.

The actual reason is straightforward. People sold Bitcoin via spot, unwound…

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