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As the Security and Exchange Commission (SEC) moves closer to approving the <a href="https://news.todayq.com/delay-or-green-light-for-bitcoin-etf-sec-gives-quick-feedback/">spot Bitcoin Exchange Traded Fund (ETF)</a>, the cryptocurrency community has experienced a significant surge in overall cryptocurrency prices. Amidst this, a signal from former hedge fund manager and host of CNBC’s Mad Money, Jim Cramer, has garnered everyone’s attention. Inverse Cramer signal says Bitcoin “Topping Out” 
In the realm of finance, we are all familiar with the inverse nature of signals associated with Jim Cramer. Recently, on CNBC’s Mad Money show on January 8, 2024, Cramer made a statement that Bitcoin is “topping out” and enough is enough. This clip from his TV show went viral on X (previously Twitter), where many members of the crypto community retweeted and replied that this is what they were waiting for – the biggest buy call ever. Some also mentioned the law of inverse Cramer is in play, suggesting a new all-time high is in the making. 
JIM CRAMER ALERT🚨🚨🚨:“I think Bitcoin’s topping out.” 
Cramer’s asset recommendations often lead to opposite movements, prompting the creation of an Inverse Cramer ETF. This ETF is designed specifically for betting against the assets Cramer mentions on his popular show, serving as a tool for taking the opposite stance on his asset picks. 
Currently, Bitcoin is trading near $46,585, and in the last 24 hours, it experienced a significant over 6% price surge. However, if we examine Bitcoin over a longer period, in the last 30 days, Bitcoin was in consolidation mode, but the recent 24-hour price surge caused it to show over a 6% move in the last 30 days. This significant price surge in the last 24 hours has created a bullish sentiment in the cryptocurrency landscape, with other altcoins also experiencing bullish momentum. Bitcoin technical analysis and resistance zone 
According to an expert’s technical analysis, Bitcoin is currently near its strong resistance zone ($48,200), and this zone might prompt a reversal from a price action perspective. Additionally, Bitcoin reached this level on March 21, 2022, but from this level, Bitcoin dropped to $15,700 before reaching this level again. However, the overall cryptocurrency market is bullish, and with the imminent approval of a spot Bitcoin ETF, a reversal from this level might not be easy. Source: TradingView 
Furthermore, if the $48,200 level is breached and any daily Bitcoin candle closes above this strong resistance level, we may see a new all-time high in the coming days. Currently, Bitcoin is in a bull run, trading above its 200 Exponential Moving Average (EMA), which highlights a bullish view. 
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Bitcoin “Topping Out,” says Jim Cramer, buy or not?

Todayq News

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