Cramer's Bitcoin Suggestion Backfires, Sending Price Down $2,000

Bitcoin's price took an unexpected turn after CNBC host Jim Cramer recommended buying it. In a statement that seemed counterintuitive, Cramer said 'Just go buy Bitcoin'. However, instead of boosting the token's value, its price plummeted by $2,000.

The broader crypto market also experienced significant liquidations, with around $1.3 billion in positions being forced to be sold across global crypto derivatives over the past 24 hours. Although Cramer's comments were likely a contributing factor, no direct causal link has been confirmed between his statement and Bitcoin's decline.