Dogecoin Co‑creator Shrugs as $150B Wipes Out in Crypto Crash
The crypto market plunged, erasing roughly $150 billion in market value and liquidations within 24 hours. Bitcoin fell below $90,000 after briefly reclaiming $96,000 amid renewed geopolitical tensions in northern Europe. Gold surged to a record above $4,800/oz as traders sought safe havens. Major altcoins including Ethereum and Solana posted double‑digit losses, while meme coins were hit hardest. Crypto whales and heavy leveraged positions drove cascading liquidations across exchanges. Dogecoin co‑creator Billy Markus (X: Shibetoshi Nakamoto) reacted to the collapse with a single word: “Oh,” reflecting his long‑standing skepticism and limited personal holdings (under one BTC and a small amount of DOGE). Key takeaways for traders: elevated volatility and liquidation risk remain high; flight‑to‑safety flows can pressure crypto prices; meme coins are especially vulnerable during market stress. Primary keywords: crypto crash, Bitcoin price, Dogecoin, liquidations. Secondary keywords: altcoins, leverage, safe-haven, gold.
Bearish
The news describes a rapid, large-scale market decline driven by concentrated selling from whales and cascading liquidations of leveraged positions—classic bearish drivers. Bitcoin slipping below a recently reclaimed level ($96k → <$90k) signals loss of short-term support and heightens downside risk. Record gold prices indicate a flight to safety, diverting capital away from crypto. Altcoins and meme coins recorded deeper losses, showing correlated risk-off behavior and higher vulnerability for lower‑market‑cap assets. Historically, similar liquidation cascades (e.g., March 2020, May 2021 drawdowns) produced short-term capitulation, followed by either consolidation or extended drawdown depending on macro and liquidity conditions. Short-term impact: elevated volatility, potential for further downside as leveraged positions unwind and risk sentiment remains weak. Traders should reduce leverage, widen stops, and prefer liquid blue‑chip assets (BTC, ETH) or wait for confirmed support/bottom signals. Long-term impact: if geopolitical or macro drivers persist, institutional flows to safe-havens could sustain pressure on crypto until clearer macro stabilization or liquidity injections occur. However, fundamental narratives and on‑chain demand could support eventual recovery, so watch liquidation metrics, funding rates, and macro headlines for signs of trend reversal.