Jim Cramer Says He Likes Bitcoin, But Isn't Fond Of The 'Cabal' Trying To Keep BTC Above $90,000

Core Viewpoint - Jim Cramer expressed concerns about a "cabal" attempting to maintain Bitcoin's price above $90,000, indicating expectations of potential declines for the cryptocurrency [1][2]. Group 1: Market Sentiment - Cramer indicated a preference for Bitcoin itself but criticized the derivatives associated with it, suggesting a lack of confidence in derivative products [2]. - Richard Farr, Chief Market Strategist for Pivotus Partners, supported Cramer's view, suggesting that a significant marketing effort is needed to keep Bitcoin's price elevated to prevent leveraged players from selling [3]. Group 2: Market Analysis - Dave Weisberger, a market analyst, countered Cramer's concerns by describing the current selling of Bitcoin as "normal volatility," attributing it to early Bitcoin holders distributing their assets to more informed investors [4]. - Cramer's comments led to sarcastic responses from the market, with some investors employing the "Inverse Cramer" strategy, betting against his recommendations, although there is no conclusive evidence of its profitability [5].