Bitcoin's Rally to $71,000 Validates Cramer's 'Bulls Rule' Call Amid $801 Million Crypto Liquidations

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. This morning, Mad Money host Jim Cramer stated that the initiative has shifted to bulls. His forecast coincided with a sharp price reversal of Bitcoin, which triggered a massive wave of short position closures. Advertisement According to CoinGlass data, the sudden surge of BTC above the $71,000 level led to forced liquidations of short positions totaling more than $300 million in just four hours. Bulls rule for a.m. HOT Stories XRP Back on Track to $2 After Sudden Monday Price Jump, Bitfinex Whale Becomes Top SHIB Buyer With 120 Billion Shiba Inu Coins, Bitcoin's Biggest Quantum Critic Explains Bitcoin Cash Outperformance: Morning Crypto Report XRP Price Action Hovers at Critical Support — Jim Cramer (@jimcramer) March 23, 2026 Why Jim Cramer is bullish following $801 million Bitcoin short squeeze Over the past 24 hours, losses were recorded for 197,317 market participants, amounting to a total of $810.75 million. The main blow fell on Bitcoin instruments, with $253.37 million, and Ethereum with $253.54 million in liquidations. At the same time, the S&P 500 index is showing positive dynamics, rising to the 6,677 level, which is 1.56% higher than yesterday. Advertisement Liquidation Heatmap 24 Hours, Source: CoinGlass Investor optimism is being supported by a temporary deescalation of tensions surrounding the main global conflict at the moment. Against the backdrop of rising risk appetite, capital outflows from safe-haven assets are being observed. Gold has corrected by 1.3% to $4,433.47 per troy ounce, and silver is trading around $68.19. You Might Also Like Mon, 03/23/2026 - 13:19 XRP Back on Track to $2 After Sudden Monday Price Jump, Bitfinex Whale Becomes Top SHIB Buyer With 120 Billion Shiba Inu Coins, Bitcoin's Biggest Quantum Critic Explains Bitcoin Cash Outperformance: Morning Crypto Report By Gamza Khanzadaev Jim Cramer emphasizes that the current rebound in the Bitcoin price and the rise of stock indices are connected to the present moment. In other words, he is not confirming a full trend reversal but only pointing out that the bears have, for now, been sent to lick their wounds. Advertisement As can be seen from crypto market indicators, overleveraging and underestimating — or rather the overestimation of pessimism around the current situation — have made this short squeeze truly painful. #Bitcoin #Jim Cramer #Crypto Liquidations