The current value of the cryptocurrency market has lost more than $500 billion in just two days. People in the crypto world are shocked by this major crash.
As the economic storm rages on, Billy Markus, the founder of Dogecoin and a well-known internet comedian, has stepped in with his trademark wit.Markus, whose real name is Shibetoshi Nakamoto, called out major news outlets for their apparently out-of-date headlines on the social media site X.
He posted a screenshot of two stories that expressed optimism in the market following the release of Ethereum spot ETFs. Markus thought it was strange and amusing that these headlines didn’t mention the current market turmoil.
Crypto Market Faces Challenges
Markus didn’t stop being amusing after that. In response to someone posting a Google translation that “kamala” means “horrible” in Finnish, he sent out another tweet making fun of U.S. Senator Kamala Harris. Markus quipped that the crypto market did look very “kamala,” which is a Finnish word for things being severe.
Several things led to this major sell-off, including the release of recent poor job data and the fact that growth in the tech sector has stopped. The market is also struggling because of new worries about a global economic downturn.
The price of Bitcoin (BTC) has dropped 14.53% in the last 24 hours and is now $51,806. This rapid decline has resulted in a loss of approximately $371 million on the Bitcoin market alone. The crypto market as a whole is preparing for more problems in the coming days.
Leaders in the industry, like Billy Markus, have spoken out about how pessimistic people are about the market. His wit and sarcasm bring out the harsh truth that crypto buyers face right now. The community is still on edge as the situation plays out, closely watching for any signs of improvement or further decline.
