Jim Cramer Weighs in on Bitcoin’s Price Action
Today, CNBC’s Jim Cramer decided to comment on Bitcoin’s recent price action, stating that the recent Bitcoin price correction could be a “sell-the-news” kind of event.
Bitcoin’s Trading Price
At the time of writing, Bitcoin is trading at around $40,316, down 0.1% in the past 24-hour period. Since the launch of the new spot Bitcoin ETFs, Bitcoin has had a 17.27% price correction, dropping from $48,733 to its current price.
Bitcoin ETF Approval and SEC’s Role
In a conversation on CNBC’s “Squawk on the Street,” Cramer discussed the calmness in the market, which drove Bitcoin’s rally to the then price of $45,658. He indicated optimism over the potential approval of spot Bitcoin ETFs by the U.S. SEC, stating that it’s a “remarkable comeback that was unexpected.”
Hot Take
Despite the volatility, Bitcoin’s future seems to be a topic of interest for both Cramer and the crypto community, as Bitcoin’s price continues to fluctuate.
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