Jim Cramer Casts Doubt on Bitcoin’s Future Amidst Decline in Market Value and Grayscale's Move to Coinbase Prime
Jim Cramer, host of CNBC's "Mad Money," has expressed doubt about the future of Bitcoin due to its struggle to maintain value above $40,000. This skepticism is in contrast to the high expectations set by the introduction of Bitcoin ETFs, which have coincided with a decline in Bitcoin's market value. Grayscale's recent deposit of 15,308 BTC to Coinbase Prime has garnered attention from analysts, with some suggesting it could lead to increased bearishness in the market. The "Inverse Cramer ETF" has seen an uptick in value, while spot Bitcoin ETFs are now in bear markets, experiencing a drop of 20% or more from their peak.
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