Recent weeks have seen crypto markets fall across the board. This has led many analysts and market participants to wonder what the cause could be. While the crash may be the product of a normal bear market, speculation continues to mount.
Recent allegations from Jim Cramer on CNBC’s Squawk Box have also caught the market’s attention.
What did Jim Cramer say?
After the price of Bitcoin fell below the realized price of $79.1k, this was dubbed a rare “Black Swan” event. However, Jim Cramer looked optimistically at the move to $60,000. On one episode from CNBC Live’s Squawk Box, Jim Cramer said the US government is now buying Bitcoin. According to the analyst
“I heard he’s going to fill the Bitcoin Reserve for $60,000 that you can cover better.”
For its part, the crypto community, for some, did not take the rumors seriously labelling Cramer as a joker.
Some even claimed he was confusing Strategic Reserve and Strategic Holdings. Given the lack of established rules for the Bitcoin Strategic Reserve, the latter might be more plausible.
Here it is worth pointing out that Cramer’s claim also has no support in the chain. However, needless to say, the statement caused many to look at the market differently.
A rise in market confidence?
For example, the probability of a possible rate cut increased by 5% during the March 18 FOMC meeting. According to data from CME Groupthe chance increased from 18% to 23.2% over the weekend.
Usually such growth is illustrative of confidence among traders and investors. This is because they can borrow more and invest in risky assets at lower interest payments. The result is bullish for Bitcoin and the rest of crypto.
Source: CME Group
However, the figures were still very low, indicating that a decision on an interest rate cut remains difficult. In the past, when they went through it, the probability was in the 80th percentile or more.
Which brings us to the big question: Do these accusations add more weight to the significance of BTC’s $60K level?
Are there important levels to look at?
Bitcoin price charts showed an aggressive rebound after reaching $60,000. The importance of the zone was proven by its association with the US government purchase price on a psychological level.
Moreover, this order block zone kicked off the rally that saw BTC reach a high of $126,000 in 2025. It was also the closest bullish liquidity swing.
Source: BTC/USD on TradingView
However, the RSI divergence indicator indicated that bear pressure was still present. This increased the chance of breakthrough below this zone.
On the contrary, the Bitcoin Mayer Multiple reached a value of 0.6. This implied that BTC was undervalued and a bounce was looming. This finding seemed to be perfectly in line with expectations from the world’s largest cryptocurrency.
Source: CryptoQuant
While it did not confirm a price floor, it hinted that the risk approach could change as markets absorb fear.
Such episodes occurred during the lows of the bear markets in December 2018, March 2020 and November 2022. Each time, a strong recovery followed.
Final thoughts
- Jim Cramer believes the US government bought Bitcoin for $60,000.
- Bitcoin appears to be trading above a tipping point as the crypto market has absorbed panic in recent weeks.