Bitcoin · Jim Cramer · Bitcoin.com News
Digital Gold Stirs at Last, Week in Review
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This week, bitcoin awoke from its slumber, springing out of bed.
Key facts
- Bitcoin added roughly $4,400 in fifty minutes, touching $69,500 and liquidating about $1.1 billion of shorts inside an hour
- By Thursday morning, bitcoin was near $72,000, up more than 7% on the day and roughly 12% on the week
- Put another way, “only 25 out of 292,531 wallets made more than $10K
- The CME’s CEO named Trade.xyz and Hyperliquid as reasons US markets need 24/7 trading, and Nasdaq will launch overnight trading from 9 p.m. to 4 a.m
Summary
Fidelity’s Jurrien Timmer, writing days before the move, had bitcoin floundering around $65,000 with no visible catalyst in either direction, though he guessed that a rising tide in gold would eventually take bitcoin and ethereum with it. The band snapped on Thursday morning. By Thursday morning, bitcoin was near $72,000, up more than 7% on the day and roughly 12% on the week. Spare a thought for Jim Cramer, who sold all of his bitcoin immediately beforehand, and for everyone who insisted they were waiting for a Saylor liquidation to buy.