Dogecoin Founder Comments on Bitcoin Price Crash: Details

Bitcoin's Dip Likened to Fast Food Indulgence by Dogecoin Co-Founder

In a humorous tweet, Dogecoin co-founder Billy Markus, known as "Shibetoshi Nakamoto," quipped about Bitcoin's recent price decline of over 5%. "Bitcoin ate some fast food this morning," Markus joked, accompanying his comment with a Bitcoin price chart showing its drop.

Markus's playful remark suggests that the leading cryptocurrency experienced a quick dip, akin to consuming fast food. His comment came amidst a broader market sell-off, resulting in substantial liquidations across various digital assets.

As of the time of writing, the total crypto market capitalization had declined 6.28% within the past 24 hours, reaching $3.35 trillion, according to CoinMarketCap. Bitcoin dropped 5.61% to $95,607 in the same period. Other major cryptocurrencies also faced declines, with Ethereum losing 8.3% and Dogecoin dipping by nearly 12%.

Bitcoin's Market Dip

Bitcoin's recent decline is part of a broader downturn in the cryptocurrency market. Data from CoinGlass indicates that over $711 million in liquidations have occurred across various assets.

Bitcoin peaked at $102,735 on Monday, its highest point since December 19th. However, its return above $100,000 proved short-lived. On Tuesday, Bitcoin plunged to its lowest point in over two weeks, reaching $96,105. This decline mirrored a sell-off in U.S. stocks, driven by fresh economic data and rising Treasury yields.

An Institute for Supply Management report on U.S. service providers showed that a price-paid measure had reached its highest level since early 2023. Additionally, data indicated a surge in U.S. job openings beyond expectations.

Bitcoin continued its losses on Wednesday, dropping to an intraday low of $95,222. This decline brought the cryptocurrency beneath its daily SMA 50 of $97,689, which had supported its late December trading before the start of its 2025 rebound.

Investors are anticipating labor market data scheduled for Wednesday, as well as the minutes from the Federal Reserve's December meeting.