- Bearish sentiment grows as downside targets rise, raising odds of a short-term relief rally.
- Jim Cramer publicly urged Michael Saylor to step in with aggressive buying.
- Cramer flagged $73,800 as a must-hold level while social talks target sub-$60,000.
Bitcoin traded near $76,000 at press time, down 16% over the past 7 days. The price briefly dipped to trade near $73,000 before stabilizing, and has a trading volume of $68B, an increase of more than 18% over the past 24-hours.
Santiment data shows a clear shift in trader mood. Online discussion moved away from short-term bounce calls and toward downside targets. Mentions of $50,000-$59,000 surged, while talk of $90,000-$99,000 faded, which indicates fear replacing greed. There is a possibility for a short-term relief rally because markets often move in the opposite direction from what the crowd expects.
Cramer Calls for a Forced Bounce
Jim Cramer reacted publicly as Bitcoin slid, his comments directed to Michael Saylor and Strategy. He argued that a sharp, timed buy could push the price from the $76,500 area back toward $82,500.
Cramer added that a fast move higher would distract traders from the break below $80,000 and allow bullish narratives to return. He also mocked traders who label any small rebound as a double bottom.
The TV personality noted that many of Bitcoin’s loud defenders tend to reappear only after the price recovers. Cramer claimed that without aggressive buying, the chart damage remains.
$73,800: An Important Price Tag
Cramer later tightened his view on pullback risk. He described the $73,800 zone as a critical support level that should not fail and suggested that Strategy use another zero-coupon convertible or a spot secondary offering to fund immediate Bitcoin buying. Cramer said,
At the same time, US equity markets pushed to record highs, increasing the contrast between stocks and Bitcoin. Cramer framed this divergence as pressure on Strategy to act before confidence breaks further.
Meanwhile, Strategy remains the largest corporate holder of Bitcoin, and its actions are closely watched during sell-offs. In a post on X, Saylor advised investors to do two things: buy Bitcoin and never sell Bitcoin.
OKX founder Star Xu agreed with the Bitcoin bull. The entrepreneur also stated that everyone should be their “own MicroStrategy” and “build their own long-term conviction and discipline.”
Related: What ISM Above 50 Really Means for the Bitcoin Market
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Source: https://coinedition.com/jim-cramer-urges-saylor-to-buy-bitcoin-and-stop-price-drop/
