CNBC Mad Money host Jim Cramer stated that Bitcoin (BTC) could rally to higher levels despite the cryptocurrency’s recent sharp decline. In a Sunday commentary, Cramer argued that if Michael Saylor steps in as a large buyer after checking S&P 500 futures, BTC could jump from roughly $76,500 toward $82,000—the strongest current resistance level, according to Finbold. He warned that such a move might trick traders into calling a “double bottom” while ignoring the technical damage from BTC’s breakdown below key support.
Cramer’s Rally Thesis and Short-Seller Warning
Cramer referenced Saylor’s pattern of purchasing Bitcoin on Mondays, cautioning against rallies driven by those buys. He described those who view potential upticks as a double bottom as “ill-advised folks,” per the report. The CNBC host also urged followers not to disregard the break below certain levels regardless of short-term price moves, suggesting the downturn might be an attempt by short sellers to “break” Saylor by pressuring his holdings.
Short-Term Floor and Currency Reliability Critique
Cramer indicated a likely short-term bottom exists at a certain level (exact figure not disclosed in the report) but emphasized that recent volatility demonstrates the cryptocurrency remains too unreliable to function as proper money. He disclosed he still owns Bitcoin despite his criticism. The price target matched the $82,000 resistance, and BTC staged a Monday morning rally after earlier declines, recovering some losses to trade near $78,500 at press time, up about 2.5% on the day.
Market Sentiment and Debate
Cramer’s track record as a contrarian indicator adds a layer of division among traders. Some see a potential short squeeze if Saylor indeed buys, pushing price toward $80K; others fear Cramer’s “inverse” reputation makes his bullish call a sell signal. Regardless, Cramer maintained that an asset with such volatility cannot serve as a medium of exchange—a consistent theme in his Bitcoin commentary.