Bitcoin Market Cap Plummets $100 Billion After Jim Cramer's Bullish Call, Price Falls from $99,000 to $95,000

Bitcoin's market value has seen a significant decline since Jim Cramer, a prominent financial commentator, expressed a bullish stance on the cryptocurrency.

Since his endorsement, Bitcoin's price has dropped from $99,000 to below $95,000, resulting in a loss of $100 billion in market capitalization. This downturn has led to a collapse in the odds of Bitcoin reaching $100,000 before December, with prediction markets like Kalshi showing a decrease from 88% to 36%. The odds of hitting $100,000 by November have also plummeted to 37%. The market has experienced $430 million in liquidations, and the odds of reaching $100,000 this month are now at 42%.

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