Jim Cramer Says It Feels Like a “Cabal” Is Trying to Keep Bitcoin Above $90,000

Jim Cramer has suggested that a mysterious group might be keeping Bitcoin above $90,000.

This view comes as Bitcoin continues to struggle, trading at $91,684 amid a 12% weekly loss. Notably, BTC touched a seven-month low of $89,200 earlier in the week and has not fully regained its footing.

Now, Cramer has implied that something unusual might be happening in the market.

Cramer Says Bitcoin Feels “Propped Up”

Cramer posted on X that it “almost feels like a cabal is trying to keep Bitcoin above $90,000.”

He added that while he likes Bitcoin itself, he is not a fan of the various derivatives and “games” built around it.

The comment sparked reactions across the crypto community. Many argue that the forces keeping Bitcoin above $90,000 are visible and explainable, not the result of any coordinated effort.

Community Pushes Back: “It’s Just Math”

X user Tom Alpha countered the idea, explaining that the support around $90,000 reflects structural buying rather than manipulation. He pointed to ongoing ETF inflows and MicroStrategy’s accumulation consistently surpassing daily miner issuance, creating natural upward pressure.

Essentially, large long-term players, institutions, pensions, and even sovereign buyers are absorbing supply. In his view, the level is not being defended by a “cabal”. Instead, it’s simply the result of sustained capital entering the market.

Another commenter, “Hyper Prophet,” offered a humorous inversion of Cramer’s statement, framing it as the typical “Cramer reverse indicator” that often circulates among traders.

Similarly, eToro investor Amer Shouaeb joked that his strategy is simply to do the opposite of Cramer’s calls. He said he sells when Cramer is bullish and buys when he is bearish.

Bitcoin Is Undervalued, Not Manipulated

Meanwhile, veteran Bitcoin analyst Dave Weisberger provided a more detailed interpretation, saying Cramer’s comment contradicts itself.

He explained that investors who understand Bitcoin see it as undervalued relative to its network growth and to gold, which Bitcoin could eventually match or surpass in value.

Weisberger believes the current price drop is just part of normal market fluctuations, caused by older holders selling to new institutional investors as Bitcoin matures. He also noted that conspiracy theories about price manipulation usually make the opposite claim—that big players want Bitcoin cheap so they can accumulate more.

Jim, with all due respect, that is a self contradictory and likely upside down statement…

If you truly "liked Bitcoin" you would understand it has gotten very cheap relative to its underlying network growth AND vs Gold, whose monetary value it will ultimately equal or pass.…

— Dave W (@daveweisberger1) November 19, 2025

Ultimately, Bitcoin is facing resistance around $90,000 even as long-term demand grows, institutions continue buying, and miner supply remains low.