Plunging quickly from $113K to $109K, Bitcoin’s market dip came right after Jim Cramer’s weirdly-encouraging message.
CNBC’s Mad Money TV show host Jim Cramer is back doing his magic tricks again. About 21 hours ago, the controversial ‘Inverse Cramer’ posted a message on X, cheering the crypto market’s recent rally: “Here we go: HUGE!!!!!!!!!!!!!!!!!!!!!!!!!!!”.
BTC, ETH Dip Hard: Jim Cramer Has Done It Again
While Mr. Cramer couldn’t conceal his enthusiasm, some crypto connoisseurs immediately identified a concerning pattern. Typically, when Jim Cramer says something ultra bullish, a market dip follows. This time, this is exactly what happened.
“That’s what she said”, uttered the Dutch D Guy, but other crypto enthusiasts on X took the message a lot more seriously than that. “Nooooo!”, – screamed Crypto Seth, receiving over 200 likes with the dooming reaction. Others like Big Shib Johnson couldn’t mince words, telling Jim Cramer straight up to “STFU”, alleging that every time he opens his mouth, crypto takes a dive.
Last week, Jim Cramer also mentioned setting up children funds for Bitcoin (BTC) & Ethereum (ETH), as these crypto’s top-tier assets could serve as a long-term hedge against the United States Dollar’s (USD) forecasted inflation in the upcoming years.
Is $109K Bitcoin The Bottom Or Just The Start?
If Friday’s market gloom retreats and the $109K monthly lows for Bitcoin (BTC) will serve as a bounce back floor, this would mirror BTC’s price movement in April, 2025. Then, Bitcoin (BTC) bounced off $74K, representing the lower-bound Bollinger Band (BOLL) on the MVRV technical chart.
However, most cryptocurrency whales beg to differ, as the general large player sentiment still leans towards selling. With the Chaikin Money Flow (CMF) dwelling in negative territory, BTC’s hope lies in the oversold condition, depicted in both Stochastic Relative Strength Index (StochRSI), as well as the regular one.
On The Flipside
* Crypto’s Fear & Greed Index is evenly balanced at 50, meaning that crypto market participants are not in panic, but rather divided between selling & buying.
* Seasoned market watchers rationalize Friday’s market dip by the uneasy geopolitical conditions & the multi-billion Bitcoin options expiration today.
Why This Matters
High-profile financial commentators have brought blockchain to the mainstream, and the coverage is likely to deepen after a series of legal crypto victories this year.
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