Jim Cramer, the host of CNBC’s Mad Money, has made headlines with his latest prediction of an impending market crash.
However, instead of sparking fear, his comments have been met with skepticism and even hope, as investors reference the “inverse Cramer index,” which suggests markets often move in the opposite direction of his forecasts.
Cramer’s cryptic post on X warned of a “total washout” in the markets, hinting at further declines across global financial sectors, including crypto. Yet, his followers seemed unfazed, with many believing that the outcome will likely defy his warning, as has been observed in the past.
This contrarian belief is so widespread that an ETF, SJIM, was created to capitalize on market movements contrary to Cramer’s predictions.
The crypto market has faced significant pressure, with $400 million liquidated due to Bitcoin’s drop below key levels, driven by institutional selling and global economic uncertainty. While some fear further declines, others see Bitcoin’s $90,804 support as a potential lifeline for recovery. Analysts suggest that holding this level could lead to a rally past $108,000.
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.
Coinbase CEO Brian Armstrong has spotlighted a significant acceleration in institutional crypto adoption, driven largely by the surging popularity of exchange-traded funds and increased use of Coinbase Prime among major corporations.
The latest market turbulence, fueled by geopolitical tensions and investor fear, offered a textbook case of how sentiment swings and whale behavior shape crypto price action.
Jefferies chief market strategist David Zervos believes an upcoming power shift at the Federal Reserve could benefit U.S. equity markets.