Jim Cramer Says Market Bounce Makes ‘No Sense’ As Bitcoin Reels From $1B Liquidation Wave
Jim Cramer says traders clinging to Fed-driven optimism are delusional as Bitcoin (CRYPTO: BTC) traded as low as $81,000 on Friday.
Cramer Says Fed Optimism Is Misplaced
CNBC host Jim Cramer on Friday said traders were wrong to assume that conditions improved after Federal Reserve board member John Williams spoke.
He argued that nothing meaningful changed and that many market participants still “need to get out.”
Cramer said the latest bounce attempt made “no sense,” adding that this is not a moment where anyone can “wave a magic wand” to repair the damage.
He pointed to ongoing issues tied to data-center buildouts and structural risks across trading strategies.
The downturn intensified when the United States stumbled on its October jobs report, sparking a fast unwind across risk markets.
Liquidations Spike As Bitcoin Extends Its Breakdown
The market saw $2.24 billion in total liquidations over 24 hours, with …
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