CNBC host Jim Cramer has once again turned his attention to Bitcoin, questioning the leading cryptocurrency's stability and whether its supporters are willing to defend key price levels.
His statements come after Bitcoin's sudden drop below the psychological level of $80,000 over the weekend.
Bitcoin's break below $80,000 highlights fragile support levels and price volatility.
At the time of writing, Bitcoin is trading at $76,511, a decrease of 2% in the last 24 hours. This comes after a bloodbath in the cryptocurrency market over the weekend, where Ethereum and several altcoins showed the same sentiment.
In a series of posts on X (Twitter) over the weekend, Cramer highlighted Bitcoin's recent fall below $80,000, describing the event as a sign of short-term volatility and how fragile investor support is.
Cramer, who has owned Bitcoin for a long time, justified his criticism with what he sees as a structural problem in today’s markets.
“I write in How to Make Money in any Market that you must keep your eyes on the important thing, namely profit, not bitcoin or silver or whatever else confuses you,” he stated. “But no one seems to learn because we are all macro now…24/7…even though it is wrong ALWAYS.”
The CNBC host emphasized that despite Bitcoin receiving a lot of attention, fundamental factors such as corporate earnings are still the only reliable indicators for investors. Bitcoin's significant movements over the weekend further underscore Cramer's point.
“What happens on one weekend with Bitcoin shows how unreliable it is, in the short term, as a currency… And I say this as someone who owns bitcoin,” he emphasized.
By pointing out the rapid price movements, Cramer noted what he believes is an imbalance between the perception of Bitcoin as a store of value and how the price actually moves.
In his posts, Cramer repeatedly referred to the range $80,000–$82,000 as a “line in the sand,” expressing surprise that large holders and prominent Bitcoin advocates did not intervene to defend the level.
He also questioned the timing and engagement of Bitcoin's defenders, noting that they had a limited window to push the price back to $82,000 and establish a so-called double bottom.
As an experienced Bitcoin owner pointed out, the apparent absence of such supporters during a critical moment for the leading cryptocurrency.
MicroStrategy, Saylor, and Bitcoin: Short-term movements driven by stakeholders and narratives.
Cramer's comment also touched on MicroStrategy (now Strategy Inc.) and their chairman Michael Saylor, a prominent Bitcoin advocate in business.
Since the company is set to present results on February 5, he suggested that both the stock and Bitcoin could be under coordinated pressure from short sellers.
“Saylor reports this week, February 5. The bears are likely trying to pressure him before that,” Cramer wrote.
He even sarcastically suggested that Saylor might try to move the Bitcoin price to create a temporary bullish narrative.
Despite skepticism, Cramer acknowledged the possibility of a rise, noting that if Bitcoin stands at $77,000, a sudden buying interest could push the price up to $82,000.
His posts reflect the same theme: Bitcoin's short-term movements are still heavily dependent on support from key players and narrative-based purchases, rather than entirely organic demand.
Cramer's statements illustrate the tension between investor optimism, psychology around price, and the market's actual situation.
The breach of the $80,000 level could test both Bitcoin's resilience and the willingness of supporters to act. It raises questions about how much of Bitcoin's short-term price development is driven by fundamental factors versus narrative and optics.