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.
As the crypto market faces significant selling pressure in the early Monday session, Dogecoin cofounder Billy Markus — better known by his X (formerly Twitter) handle, Shibetoshi Nakamoto — has broken his silence with a characteristically witty yet thought-provoking post.
In a tweet that caught the attention of the Dogecoin community and beyond, Markus shared an image, offering a humorous yet pointed take on the cyclical nature of the market.
The image bore four captions: "Bear markets create strong memes," "Strong memes create bull markets," "Bull markets create bad memes" and "Bad memes create bear markets."
Arman ShirinyanMarkus's post comes at a time when sentiment is near a low across the market, with most cryptocurrencies reeling from a wave of volatility. Rather than directly commenting on the crash, his meme-driven insight subtly hints at the self-reinforcing emotional loop that often defines bull and bear cycles in crypto.
Crypto market faces brutal sell-off
A crypto market sell-off turned severe in the European morning hours Monday, as Bitcoin penetrated the $75,000 threshold, increasing losses on major tokens by nearly 20%.
XRP and SOL led the collapse, each down more than 17% in the last 24 hours and breaching key support levels. Dogecoin was not spared, dropping 16% to $0.138.
Tomiwabold OlajideTens of billions of dollars in market value were erased as the majority of cryptocurrencies fell in the hours leading up to the European Open, fueled by a wave of macroeconomic concerns and aggressive liquidations reaching $1.4 billion.
According to CoinGlass data, cryptocurrency derivatives traders suffered $1.4 billion in total liquidations. Long liquidations in cryptocurrency futures totaled more than $1.22 billion, as bullish traders faced significant losses. Short liquidations, on the other hand, saw $186 million.
Large-scale liquidations may imply market extremes, such as panic-selling or purchasing. A cascade of liquidations may foreshadow a price reversal on the horizon due to an overreaction of market sentiment.
Vladislav Sopov
Dan Burgin