Reports of a potential Lorenzo/Ducati deal broke last week, but the Spaniard insisted during Yamaha's 2014 launch that he had no interest in moving.
Crutchlow has joined Ducati from Tech 3 Yamaha for this season, replacing Nicky Hayden alongside Andrea Dovizioso.
The Briton said that while he was not at all surprised to see Lorenzo dismissing the story, that did not mean a Ducati move was out of the question for the double MotoGP champion.
"I believe that maybe there is truth in it," Crutchlow told the official MotoGP website.
"As Jorge has said himself, every manufacturer is going to want to speak to him.
"Of course [Yamaha team boss] Lin [Jarvis] is going to deny it because he wants to keep him.
"I hope [Lorenzo] makes the right decision on where he goes.
"It would be a big challenge for him if he did come to Ducati, but I know nothing about it. The best guys to ask are the bosses of the manufacturers.
"Of course Jorge will deny it too, as he will want to speak to the current manufacturer that he is with."
Ducati has not won a MotoGP race since Casey Stoner's 2010 Australian Grand Prix triumph.
Valentino Rossi's high-profile move to the Italian squad for 2011-12 also failed to pay off, as the nine-time world champion took just three podium finishes during that period.
Crutchlow added that he did not see the Lorenzo rumours as a threat to his job.
"If he did come to Ducati in 2015 when I'm still there it would not affect me in the slightest, though he would bring a wealth of data and a lot of speed," he said.
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