Jim Cramer returned to X on September 22, warning about what he called the “endless rally of speculation” across gold, crypto, and profitless companies. The post came just hours after one of the sharpest market shakeouts in weeks.
The crypto market was hit particularly hard. In less than 20 minutes, over $1 billion worth of Bitcoin long positions were liquidated as low-liquidity conditions during the Sunday night session triggered a sudden drop. As often happens in these time frames, thin order books amplified the sell-off, creating a washout across the digital asset space.
Virtually all top-ten cryptocurrencies turned red over the past week, with the sole exception of BNB, which has continued to defy the broader pullback. XRP, Ethereum, and Bitcoin all posted multi-day lows, sparking heated debate among traders. One user responded directly to Cramer’s post, writing:
At the same time, gold is charting an entirely different path. The safe-haven asset surged to a new all-time high above $3,726 per ounce on Monday, underscoring its resilience amid global macro uncertainty.
Cramer’s comments lumped gold into the same speculative basket as crypto, though for many investors, the divergence highlights the contrasting roles the two assets play: one as a volatile risk asset, the other as a hedge in turbulent times.
The question of “profitless companies” remains ambiguous, with Cramer not naming specific stocks. However, the remark points to a familiar theme in his commentary, where unprofitable tech names often come under scrutiny when markets shift toward risk-off sentiment.
Despite Cramer’s call for a pause, seasoned traders noted that crypto dips during thin weekend sessions are often bought back into the U.S. market open, a pattern that has played out repeatedly this year. It remains to be seen whether this week follows that script depends on how Bitcoin reacts to the liquidation flush and whether institutional buyers step in at lower levels.
Source: https://finbold.com/jim-cramer-slams-crypto-and-gold-as-bitcoin-erases-1b-in-longs/
