JP Morgan Faces Accusations of Engineering the October 10 Crash with Old Document

Analysts from Bitcoin For Corporations have charged JP Morgan Chase with triggering the cryptocurrency market crash on October 10. They highlight a 42-day-old document that allegedly incited a $19 billion liquidation effect. This article explores the claims and timeline of events surrounding this incident.

Key Takeaways

Analysts accuse JP Morgan of causing the October 10 crypto market crash.
The claims involve a 42-day-old warning about MicroStrategy facing potential delisting.
Accusations include allegations of market manipulation by JP Morgan.
MicroStrategy's performance is closely tied to Bitcoin's market trends.
Upcoming MSCI decisions may impact investment strategies going forward.

JP Morgan Accused of Manufacturing Oct 10 Crash Using 42-Day-Old Document

Allegations Against JP Morgan

Analysts at Bitcoin For Corporations have put forward accusations against JP Morgan Chase, stating that the bank was responsible for the significant crash in the cryptocurrency market that occurred on October 10. This was based on a 42-day-old document that foretold a cascade of $19 billion in liquidations.

Adrian, an analyst associated with Bitcoin For Corporations, expressed that the crash appeared orchestrated. He referenced a note from JP Morgan which indicated that MicroStrategy (now referred to simply as Strategy) might be removed from the MSCI USA and Nasdaq 100 indexes, predicting $2.8 billion in outflows for the largest corporate holder of Bitcoin.

“This document has been available to the public for 42 days. The market disregarded it for six weeks,” Adrian stated. He continued, “Now, just after several lackluster days in November, JP Morgan has resurfaced it to fuel fears around ‘delisting risk.’ They’ve recycled an old story to speed up a sell-off.”

Timeline Highlights of Alleged Coordination

Adrian claimed that the timing of the MSCI document's release indicated a deliberate attack on $MSTR and other digital treasury companies. He asserted: “They want you to believe that this delisting risk is natural. The timing shows it’s a deliberate attack.”

According to Adrian's analysis, four pivotal moments between May and October demonstrate this timing:

On May 14, Jim Chanos made headlines with his “Long $BTC, Short $MSTR” strategy, which Adrian deemed a clear manipulation of market sentiment.
On July 7, JP Morgan imposed a significant margin increase on $MSTR trading from 50% to 95%, a move that Adrian claimed constricted leverage, causing forced liquidations and creating additional selling pressure.
The situation intensified on September 12, when Metaplanet announced a capital raise, prompting what Adrian identified as a panic at MSCI due to companies increasingly adopting the Saylor Playbook.
Finally, on October 10, just 16 minutes before President Trump’s tariff announcement at 4:50 PM EDT, MSCI’s extension of its consultation was announced, leading to a crypto flash crash. Adrian suggested, “There’s no way this is merely a coincidence. They utilized the macro panic to obscure this announcement.”

Fear and Panic in the Crypto Market

Crypto commentator Mario Nawfal has accused JPMorgan of inciting fear with a negative report during a time when BTC and MSTR were declining, labeling it “classic Wall Street timing.” He concluded that the crash on October 10 was not due to fundamental issues but rather a panic-induced reaction to unexpected index risks in a strained market.

Investment banker Simon Dixon also claimed that JP Morgan employed “vassalization tactics” to exert control over Saylor’s company. He argued that Saylor effectively became a Wall Street entity once he accepted corporate debt, and that banks are manipulating Bitcoin prices while centralizing the cryptocurrency within a Wall Street framework.

Dixon also criticized Saylor’s encouragement for borrowing against Bitcoin, stating that it contributes to centralization through forced liquidations.

MicroStrategy's Position and Future Prospects

In response to the allegations, Saylor asserted that MicroStrategy operates as a software company that generates revenue and offers BTC-backed credit products, rather than functioning as an investment fund. In a statement titled “Response to MSCI Index Matter,” he clarified that the MSCI classification does not determine the company’s identity.

“Our strategy is long-term, our conviction in Bitcoin remains strong, and our purpose has not changed,” Saylor emphasized.

The final judgment from MSCI is set to be announced on January 15, 2026. Analysts continue to believe that JP Morgan’s alarms have arrived at a time coinciding with MSTR's declining performance. In the third quarter, JP Morgan, BlackRock, and Vanguard combined sold over $5 billion in $MSTR shares. Notably, JP Morgan alone disposed of 25% of its holdings prior to the MSCI announcement.

JP Morgan Accused of Manufacturing Oct 10 Crash Using 42-Day-Old Document.

As it stands, BTC has fallen 12% since the start of 2025, and MSTR shares have plummeted 56% month-over-month, with a 41% drop in just the last month. Given that Strategy’s stock performance is heavily reliant on Bitcoin's fluctuations, analysts at Cryptonews warn of potentially serious repercussions ahead.