The crypto market’s recent correction only accelerated on Sunday, with Bitcoin falling to around $74,000 — its lowest level since April 2025 — as liquidations piled up.
Despite being a self-proclaimed Bitcoin holder, CNBC markets commentator Jim Cramer suggested that the violent price drawdown is conclusive proof of Bitcoin’s volatility and limitations as a short-term currency.
“The demonstration of what can happen in a weekend with bitcoin demonstrates its unreliability, on a short-term basis, to be a currency,” Cramer said on X. “And I write that as someone who owns bitcoin.”
According to him, the weekend’s market sell-off may have been caused by short sellers frontrunning Michael Saylor’s Strategy, which is set to report its earnings later this week. “Saylor reports this week, Feb 5. So the shorts are probably trying to break him before that,” Cramer cautioned, adding that bullish narratives from “the usual defenders” might not be enough to provide enough buy-side pressure to stop a deeper break.
Cramer Calls Out The Silence Of Bitcoin’s Most Vocal Bulls
Cramer highlighted a potential support zone around $73,000, citing strategist Jessica Inskip, while suggesting bitcoin needed to strongly bounce above $77,000 as a “launching pad” back toward the $82K level.
Cramer questioned why some of the industry’s biggest bulls were silent following the Jan. 31 market-wide pullback. “Where are the usual Bitcoin defenders? I figure they have until Monday to get it back to $82,000, so they can claim double bottom, and I say that as a long-standing owner of bitcoin!!! Ahoy??”
He repeatedly mentioned Strategy executive chairman Michael Saylor, asking whether the ardent BTC bull had “dry powder” to step in.
“come Sail away, where is Michael Saylor and his acolytes? Bitcoin needs to use this $77,000 launching pad to get to $83,000 at least by Feb 7. Does he have any dry powder? Where are all the usual gang of crypto supporters? Egads! MISTER.”
Notably, Strategy bought the weekend dip, acquiring an additional 855 BTC for roughly $75 million.
Source: https://zycrypto.com/jim-cramer-sounds-alarm-on-bitcoins-unreliability-as-a-short-term-currency-after-brutal-weekend-drop-to-74000/
