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Top Tools & Picks

INTEREST
River: 3.3% interest on cash paid in bitcoin
›


IRA
Unchained: Keep BTC in an IRA & control your keys
›


CREDIT CARD
The Gemini Credit Card®: Earn up to 4% back in BTC
›
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Jim Cramer posted on X that bitcoin is “easy to prop up,” implying its price can be supported by manipulation or large holders.

Cramer wrote:

“Amazing how easy it is to prop up Bitcoin, isn’t it?”

The comments arrived as bitcoin traded around $86,411 after falling to an intraday low of $85,427, according to the report.

Strategy’s buying and the market move

Cramer’s post followed a major purchase by Strategy, which injected nearly $1 billion of buying pressure into the market between Dec. 8 and Dec. 14.

Strategy spent $980.3 million and bought at an average price of $92,124, but bitcoin later fell to about $85,000, meaning the market absorbed the buying and still sold off.

“Inverse Cramer” reactions

Commentary on social media focused on the “Inverse Cramer” meme, a long-running theory that Cramer’s market calls are often wrong and that traders should do the opposite.

Some users celebrated his negativity, arguing that bearish commentary can coincide with a market bottom.

BTC price

At the time of the update, bitcoin was changing hands near $86,411 after dipping to $85,427 intraday.

Original Article