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].

Core Viewpoint - Jim Cramer expressed concerns about a "cabal" attempting to keep Bitcoin above $90,000, indicating expectations of further downside for the cryptocurrency [1][2]. Group 1: Market Sentiment - Cramer indicated that he likes Bitcoin but is critical of 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 "major marketing push" is necessary to maintain Bitcoin's price and prevent leveraged players from selling [3]. - Dave Weisberger, a market analyst, countered that the current selling of Bitcoin is normal volatility, attributing it to early investors distributing their holdings to more informed investors [4]. Group 2: Investor Reactions - Cramer's comments led to sarcastic responses from investors who invoked the "Inverse Cramer" strategy, betting against his recommendations, although there is no definitive proof of its profitability [5]. - Cramer previously advocated for Bitcoin as a hedge against U.S. national debt, expressing concerns about the economy amid a worsening debt crisis [6]. Group 3: Current Market Data - As of the latest data, Bitcoin was trading at $92,377.34, reflecting a 0.38% increase in the last 24 hours [6].