Jim Cramer questions where the bitcoin bulls are as the price of the cryptocurrency falls to $74,000

Jim Cramer sounds the alarm about the "lack of reliability" of bitcoin as a short-term currency following a sharp drop over the weekend.

What you need to know:

Cramer highlights $73,000 as a vital level for bitcoin, warning that the asset must recover $77,000 to establish a "launching pad" for future gains. Despite Strategy president Michael Saylor hinting at new purchases over the weekend, Cramer expressed skepticism about whether "usual defenders" can exert enough buying pressure to stop a deeper drop. The sell-off is leaking into other sectors; Cramer noted that leveraged traders in metals and speculative stocks are liquidating positions to cover losses in cryptocurrencies, which could drag down broader risk markets.#btc $BTC

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