CryptoQuant CEO Ki Young Ju just made a key observation that is crucial to Bitcoin’s price action as 2025 wraps up.
In a tweet, Ki Young Ju noted that CNBC’s Mad Money host Jim Cramer is 100% bearish on Bitcoin. Ju shared a chart reflecting Cramer’s sentiment, which is now completely bearish.
BREAKING: Jim Cramer is 100% bearish on Bitcoin.
Merry Christmas 🎄 pic.twitter.com/qDr2Yx2U8X
— Ki Young Ju (@ki_young_ju) December 24, 2025
This remains significant as Jim Cramer has developed a reputation in investment circles, especially on the crypto market, where many take his statements as contrarian indicators.
For instance, in late September, Cramer tweeted to “Buy crypto.” Bitcoin went ahead to hit a record of over $126,000 in early October but later crashed to near $80,000 in the weeks that followed.
Bitcoin is headed for the fourth annual decline in its history and the first one that did not coincide with a major scandal or industry meltdown.
At press time, Bitcoin was trading slightly up 0.34% in the last 24 hours to $87,327. Bitcoin is now about 7% lower for the year.
The market is still struggling to regain its footing after the October crash, as trading volumes remain thin and retail speculation is dropping. U.S. spot Bitcoin exchange-traded funds have turned into net sellers in the fourth quarter, removing a key source of demand that supported earlier rallies.
Investors have pulled in more than $5.2 billion from U.S.-listed spot Bitcoin ETFs since Oct. 10.
Santa rally coming?
Despite the current lull on the crypto markets, investors remain hopeful for a “Santa Claus Rally,” which typically encompasses the last five trading days of the year and the first two of the new one.
Elsewhere, markets are sending a very different signal. U.S. stocks have surged into a classic Santa rally as a relatively quiet session on Wall Street before Christmas saw stocks hitting all-time highs, with more signs the jobs market is not quickly deteriorating, supporting bets on a soft economic landing.
Crypto traders continue to watch out for signals as to where the market might head next. A more than $23 billion options expiry is being watched, although thin liquidity during the holidays has affected market activity.