Where Are Bitcoin's Bulls? Cramer Questions Crypto's Reliability

$74,000. That's where Bitcoin crashed over the weekend—its lowest level since April 2025. Even Jim Cramer, who's owned the crypto himself, is asking uncomfortable questions: "Where are the usual defenders?"

The CNBC host didn't mince words about Bitcoin's sharp slide, highlighting a troubling reality that many crypto enthusiasts might prefer to ignore.

The $73,000 Line in the Sand

Cramer identified $73,000 as a critical support level, citing strategist Jessica Inskip's analysis. But here's the kicker: Bitcoin needs to reclaim $77,000 to establish what he calls a "launching pad" back toward the low-$80,000s.

That's a $4,000 gap just to get back to neutral territory—hardly the stuff of moonshot dreams.

The veteran market commentator repeatedly invoked MicroStrategy's executive chairman Michael Saylor, wondering aloud whether the bitcoin evangelist had "dry powder" to step in. Saylor seemed to answer with a cryptic Sunday tweet: "more orange," hinting at weekend purchases.

"Unreliable" as Short-Term Currency

Here's where it gets interesting. Cramer owns Bitcoin himself, yet he used this weekend's volatility to make a pointed observation: "The demonstration of what can happen in a weekend with bitcoin demonstrates its unreliability, on a short-term basis, to be a currency."

That's not anti-crypto rhetoric—that's a Bitcoin holder acknowledging uncomfortable truths. If a $6,000 weekend drop can happen without major news, how can Bitcoin function as everyday money?

Contagion Beyond Crypto

The selloff isn't staying contained. Cramer noted that leveraged traders in metals and speculative stocks are liquidating positions to cover crypto losses. This creates a domino effect where Bitcoin's problems become everyone's problems.

It's a far cry from the "uncorrelated asset" narrative that once made Bitcoin attractive to institutional portfolios. In 2026, crypto has become deeply integrated with traditional risk markets—for better and worse.

Timing and Short Sellers

Cramer speculated that short sellers might be pressing Bitcoin ahead of MicroStrategy's earnings report later this week. It's a savvy observation: attack when the biggest corporate holder might be vulnerable to negative sentiment.

He warned that bullish narratives from "the usual defenders" might not provide enough buying pressure if the price break accelerates. Translation: cheerleading doesn't stop margin calls.

Beyond the Bitcoin Drama

Despite his concerns about crypto volatility, Cramer urged investors not to get consumed by "jeremiads of destruction." His advice? Focus on individual stocks and corporate earnings rather than macro-driven distractions like Bitcoin or precious metals.

It's classic Cramer: acknowledge the chaos, but don't let it derail your broader investment strategy.