Renowned CNBC host Jim Cramer recently took to the X social media platform to comment on Bitcoin’s sharp decline, cautioning that the cryptocurrency is nearing a critical “code red” threshold.
Cramer identifies $73,600 as a vital support level for Bitcoin, emphasizing its importance in maintaining market stability.
Bitcoin at 73,600 is approaching that code red zone
— Jim Cramer (@jimcramer) February 4, 2026
Relentless Downturn
Earlier today, Bitcoin dropped to a fresh yearly low of $72,185 according to CoinGecko’s data.
The crypto market is currently experiencing an intense deleveraging phase. Within the past 24 hours alone, there was a significant liquidation event totaling $861.28 million. Out of this amount, roughly $677.53 million originated from long positions being liquidated.
This downturn places Bitcoin on track for what could be its fifth consecutive month of losses.
The recent slide has brought the price dangerously close to the $70,000 mark—a level previously highlighted by Michael Burry of “The Big Short” fame as likely to trigger institutional margin calls.
If this trend continues downward momentum might accelerate toward Peter Brandt’s forecasted target near $54,000.
Meanwhile, Matt Hougan from Bitwise Invest has expressed optimism by suggesting that the crypto winter may be nearing its end.