Trump Administration May Buy Bitcoin, Cramer Claims Amid Market Volatility
- Market Controversy: CNBC's Jim Cramer claimed that the Trump administration might buy Bitcoin at a $60,000 price point, a statement made amid Bitcoin's 52% drop from its October high, which wiped out over $1.2 trillion in market value, highlighting investor sensitivity to market narratives.
- Expert Rebuttal: George Noble, a former aide to Peter Lynch, dismissed Cramer's assertion as “complete nonsense,” emphasizing the lack of evidence or sources and criticizing Cramer's history of inaccurate market predictions, which further exacerbates market anxiety.
- Legal Constraints: Noble pointed out that a 2025 executive order restricts the government from using public funds to purchase Bitcoin, noting that government-held 328,000 BTC has remained untouched for over a month, indicating legal limitations on the government's role in the Bitcoin market.
- Gold vs. Bitcoin Comparison: Noble contrasted Bitcoin's plummeting value with gold's rise to $5,020 per ounce, underscoring gold's role as a stable store of value and advising investors to remain cautious during market turmoil.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 40818.203 | 50409.102 | 60005.013 | 69595.912 | 79191.823 | 88782.722 | 98378.633 |
| Fibonacci | 50409.102 | 57738.463 | 62266.55 | 69595.912 | 76925.273 | 81453.36 | 88782.722 |
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