Bitcoin regains ground, crosses $114,000
Jim Cramer posted “buy crypto” atop a picture of the national debt clock, which was reposted by Strategy’s Michael Saylor with a slight change.
Bitcoin is starting the week with some momentum, up roughly 4% in the past 24 hours and crossing $114,000 around 10:40 a.m. ET. This uptick follows a week where bitcoin dropped below $109,000, driven largely by overleveraged positions and ETF outflows. Last week, bitcoin ETFs saw $902.5 million in outflows, according to data from SoSoValue, while cryptos overall lost $300 billion in value.
This week, with the looming government shutdown, risks of volatility might resume, however.
“Market sentiment will swing between ‘rate-cut optimism’ and ‘political/valuation risks.’ BTC short-term support: $108,000–$106,000, secondary support: $104,000. Resistance: $116,000–$118,000, with potential upside to $120,000 if confirmed breakout occurs. Risk management: reduce leverage and scale positions gradually,” Bitunix analyst Dean Chen told Sherwood News.
Jim Cramer posted a simple rallying cry — “buy crypto” — this morning, on top of a picture of the national debt clock, which was reposted by Strategy’s Michael Saylor with a slight change: “buy bitcoin.”
Buying bitcoin is exactly what Saylor did, announcing that Strategy acquired 196 bitcoin for $22.1 million. The largest corporate bitcoin holder now has 640,031, acquired for $47.35 billion.
In other bitcoin news:
Bitcoin mining company Bitdeer acquired 31.4 bitcoin and now holds 1,998 bitcoin.
French company Capital B acquired 12 bitcoin, bringing its holdings to 2,812 bitcoin.
Bitcoin treasury company Matador Technologies filed with the SEC to list on the Nasdaq.
