Jim Cramer seemingly mocks Cathie Wood's $1M Bitcoin prediction

Market Overview - Bitcoin is currently trading at $83,706.66, down 8.2% in 24 hours, marking its lowest level in seven months [1] - Crypto liquidations reached $2.19 billion overnight, with Bitcoin accounting for $1.12 billion [1] Market Sentiment - The sell-off in Bitcoin began after the U.S. missed its October jobs report, leading to a global retreat from risk assets [2] - Analyst Mike McGlone indicated that Bitcoin's current structure resembles its 2018 breakdown, predicting a potential price drop to as low as $10,000 [2] Analyst Commentary - CNBC host Jim Cramer criticized "consistent bullish crypto cheerleaders," suggesting that they will need to defend their optimistic predictions for Bitcoin reaching $1 million by 2030 [3] - Cramer’s comments indirectly referenced Cathie Wood of Ark Invest, who has been a long-time proponent of Bitcoin's potential [3] Predictions and Revisions - Cathie Wood's firm revised its 2030 bull case for Bitcoin from $1.5 million to $1.2 million, citing the rise of stablecoins like USDT and USDC [4] - Other notable figures, such as Eric Trump, have also predicted Bitcoin reaching $1 million [4] Company Exposure - MicroStrategy, led by CEO Michael Saylor, holds 649,870 BTC at an average price of $74,433, experiencing a 40% decline over the past month and 68% below its all-time high [5] - A note from JPMorgan suggested that MicroStrategy could be removed from the MSCI USA Index if its Bitcoin exposure remains above 50% of total assets [5]