- Cramer sees crypto back in a highly speculative phase, akin to markets circa 2000, when risk was rampant
- According to CoinGlass data, over $730 million in leveraged positions were liquidated in a 24-hour span
- The total crypto market cap fell back to around $3.65 trillion, showing that even with some occasional price bounces, investors are still feeling cautious overall
Jim Cramer, a well-known and frequently outspoken CNBC personality, reignited market chatter on X with his post. He stated:
“We are in 2000 territory on specs. It is where the cockroaches are.”
The post suggests Cramer sees crypto back in its highly speculative phase, akin to markets circa 2000 when risk was rampant.
Also, his mention of cockroaches, in addition to ‘2000 territory’, alludes to excess leverage, neglected assets, and risk‐taking across lesser‐watched corners of crypto. Cramer’s analogy resembles the tech bubble, where speculation ruled before a sharp fall.
Related: India and the U.S. Lead Global Crypto Adoption in 2025 as Stablecoin Volume Hit $4 Trillion
Additionally, he referenced news that Jamie Dimon (CEO of JPMorgan Chase) is launching a massive $1.5 trillion plan to invest in key American industries. Even though this isn’t specifically about crypto, the sheer size of the investment and its timing might be making investors more confident and optimistic, leading them to look more favorably at digital assets like Bitcoin.
Cramer’s X post and warning have two sides. On one hand, he implies crypto could be ready for a short-term price jump, but on the other, he believes this is happening within a larger, overheated market that reminds him of the risky tech bubble of the late 1990s.
Current market weakness
Around the same time as Cramer’s remark, crypto markets exhibited weakness. Bitcoin traded around $107,000 (at the moment, it’s hovering roughly at $108,500), down from recent highs, while according to CoinGlass data, over $730 million in leveraged positions were liquidated in a 24-hour span. Ethereum (ETH), Solana (SOL), and other major altcoins also registered declines.
Furthermore, the total crypto market cap fell back to around $3.65 trillion, showing that even with some occasional price bounces, investors are still feeling cautious overall.
The recent market swings are happening at the same time the crypto industry is gaining more mainstream financial acceptance. For instance, just a few weeks before these major sell-offs, the SEC approved generic listing standards for a host of new crypto exchange-traded products (ETPs).
That said, this market pullback, triggered by a wave of liquidations, appears to validate Cramer’s caution about excessive leverage.
Although the positive long-term outlook supported by institutional investments such as JPMorgan’s remains, the sudden decline shows the current market’s fragility.
Related: Mainstream Asset Managers Will Flood Into Bitcoin Soon – Jim Cramer
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