Markets
Jim Cramer’s market statement sparks buzz in crypto community, here’s why from U.Today
U.Today – The crypto community is buzzing after a recent market statement from Jim Cramer, host of CNBC’s Mad Money. Known for his bold market predictions, Cramer’s comments have historically served as an unintended contrarian indicator, especially for crypto investors. His latest statement highlighted once again the peculiar tendency of his predictions, which are often contrary to market results.
Markets saw mixed action on Tuesday, with stocks rising as investors looked for more clues about when the Federal Reserve might start cutting rates. Cryptocurrencies have suffered a decline, leading other major companies to trade in the red, falling 1.10% in the last 24 hours to trade at $63,399.
In reaction to the market action, Jim Cramer tweeted “watch out bears” alongside a GIF image that was captioned “I’ll find you.”
The crypto community’s reaction to Cramer’s statements is a mix of skepticism and amusement. Many debate the implications of his words, with some seeing them as indicating the opposite of what he thinks.
The community’s reaction to Cramer’s latest statement is particularly notable given the current uncertainty in the market.
Bitcoin rallied late last week after new US jobs data calmed concerns that the economy was overheating and Fed Chairman Jerome Powell ruled out raising interest rates as the central bank’s next move. .
However, other contradictory economic statistics, such as the rise in the employment cost index, may indicate that the true direction of inflation remains uncertain.
Robinhood (NASDAQ:) reported on Monday that the SEC’s enforcement team had written the company a notice from Wells, suggesting that it had reached an initial determination to recommend enforcement actions – the latest hint that the agency is not backtracking on its years-long crackdown on digital assets.
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Santiment, an on-chain analytics firm, suggests that given social trends, news surrounding Robinhood could impact market activity throughout May.