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Jim Cramer’s Call to Bitcoin Bulls: Put Your Money Where Your Mouth Is — Hopeful Response from Michael Saylor
Famous financial commentator Jim Cramer has sparked a new debate in the crypto world by questioning where the bulls are after the sharp decline in Bitcoin (BTC) price.
CNBC’s popular host Jim Cramer evaluated the weekend’s loss in value, which caused Bitcoin (BTC) to drop to around $74,000. Cramer expressed curiosity about why the most ardent supporters of the asset remained silent after this decline and emphasized that technical levels are at a critical juncture. The question among investors is whether figures like Michael Saylor will intervene in the market during this process.
Referring to analyses by strategist Jessica Inskip, Cramer identified the $73,000 region as a potential support zone. He stated that for Bitcoin (BTC) to move back toward $80,000, it must first surpass $77,000 and use that as a springboard. The question of whether MicroStrategy founder Michael Saylor has enough cash for new purchases has also resonated widely in the market.
Michael Saylor and the Bitcoin Bulls’ Move
In response to Cramer’s statement, Michael Saylor indirectly signaled new purchases with a social media post saying “more orange (bitcoin),” hinting at further accumulation. However, Cramer warned that such individual defenses might not be enough to halt the price decline. The famous commentator argued that the volatility in Bitcoin (BTC) price undermines its short-term credibility as a currency and urged investors to be prepared for these fluctuations.
Cramer also suggested that this selling pressure in the crypto market could negatively impact other risky assets. He noted that leveraged investors might sell stocks due to cash needs and emphasized that focus should be on corporate earnings rather than macroeconomic distractions. Among the risks mentioned was the possibility that open position pressure on Bitcoin (BTC) could increase ahead of MicroStrategy’s upcoming report this week.