A recent post about Bitcoin (BTC) on X by Jim Cramer has caused a stir on the internet, leaving viewers unsure of what to expect from the American television personality. This uncertainty stems from Cramer’s conflicting predictions in recent weeks, creating a sense of unpredictability in the crypto industry.
Cramer’s skeptical statement on X, in which he indicated that there is a “major top in Bitcoin,” suggests that he believes Bitcoin will not surpass its current level, despite the excitement surrounding the potential approval of a spot Bitcoin ETF. This unexpected stance comes just a week after Cramer openly expressed confidence in Bitcoin as a lasting asset.
Furthermore, Cramer’s previous expression of skepticism towards cryptocurrencies, including his prediction of “another weak year for crypto,” has raised eyebrows within the crypto ecosystem. Despite his pessimism, the industry has continued to demonstrate resilience and growth, particularly with increased adoption and integration by institutional investors. The recent push for spot BTC ETF approval from the SEC reflects this growing acceptance of the asset class.
In parallel to Cramer’s remarks, Bitcoin’s price has experienced a downturn, dropping below $46,000 in recent days and trading at $45,185.83 at the time of writing, marking a 6.5% decrease within 24 hours. Despite the anticipation surrounding the spot Bitcoin ETF approval, the price of Bitcoin has shown only marginal gains, fluctuating between $44,531.55 and $46,977.82 before stabilizing at the current level.
While the impact of the spot Bitcoin ETF approval on Bitcoin’s price has been limited thus far, it is important to note that the full extent of its influence may not be immediately apparent. As such, it is advisable to monitor the market closely in the coming days to determine the trajectory of Bitcoin’s price in response to this development.
