Main navigation

Jim Cramer's Tweet Catches Crypto Community's Attention: Details

Wed, 04/19/2023 - 15:15
article image
Tomiwabold Olajide
Bitcoin dipped below psychological $30,000 mark
Jim Cramer's Tweet Catches Crypto Community's Attention: Details
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Cryptocurrencies, European stocks and U.S. equity futures all fell as persistently high U.K. inflation stoked concerns about interest rates rising for an extended period.

Amid a wider decline in cryptocurrencies, Bitcoin once again dipped below the psychological $30,000 mark. The lead cryptocurrency fell as much as 5% before reversing some of its loss to trade at roughly $29,465 at press time. Cryptocurrencies like Solana and Avalanche saw bigger declines than the 7% loss experienced by Ethereum (ETH).

According to statistics from Coinglass, the unexpected sell-off caused long positions worth $237 million to be liquidated across exchanges.

CNBC Mad Money host and financial analyst Jim Cramer took to Twitter to comment on the drop seen across the board, saying, "Getting near being oversold."

The tweet caught the attention of the cryptocurrency community, as Cramer's predictions often turn out contrary. A Twitter user commented, "dump confirmed," while others posted funny memes telling Cramer to take the opposite view.

Crypto market still in disbelief: Santiment

According to on-chain analytics firm Santiment, social metrics and funding rates are showing contrary stories at the moment, as the trading crowd tries to navigate crypto's tight range.

In a blog post, it notes fewer people are participating in discussions on Twitter, Discord, Telegram and Reddit now than were at the start of the year. This drop might imply the crowd does not know what to think. In general, falling crowd interest despite rising prices typically denotes that there is some disbelief going on.

Bitcoin (BTC) Might Reach $32,000 Based on This Chart Validation Pattern

With around a year until Bitcoin's eagerly anticipated halving, Q1 was an incredible trip for crypto bulls, and now the crypto market must watch out for the social metrics and funding rate to decide whether Q2 will be a continuation.

article image
About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.