A meme reveals the truth: Dogecoin's founder exposes the underlying reasons behind this wave of crypto market correction

The recent downturn in the crypto market has been brutal; just look at Bitcoin’s trajectory to see it clearly. Behind the drop from $93,300 to $86,400 lies a deeper market logic—when panic strikes, the first assets to be abandoned are often high-risk ones. Dogecoin founder Billy Markus perfectly captured this phenomenon with a meme.

What signals does Billy Markus’s meme convey?

As the creator of Dogecoin, Billy Markus is known for his sharp tongue. This time, instead of a lengthy analysis, he reposted a simple yet powerful meme that says:

“Just sold my crypto yesterday, bought gold and silver.”

No complex technical analysis, no market forecasts—just one sentence that says more than a thousand words. It actually reflects the most realistic market psychology right now—when risk hits, how do investors’ choices change?

What exactly is happening in the market?

Billy Markus’s comment is actually a response to a major news piece from financial media The Kobeissi Letter. According to their report:

• Gold and silver lost a combined market value of up to $1.7 trillion within just 90 minutes
• Industry insiders describe this as “one of the largest asset rotations in history”
• The driving forces include geopolitical tensions, trade war shadows, and a broad sell-off of risk assets

In short, capital is starting to seek safe havens.

Why are cryptocurrencies falling instead of rising?

Behind Billy Markus’s meme lies his long-term market judgment. If you follow his views, you’ll see he has repeatedly stated:

• Bitcoin is not truly a safe-haven asset; it’s more like a highly volatile speculative instrument
• When traditional safe havens (gold, silver, etc.) surge strongly, cryptocurrencies are usually abandoned first
• This shift in capital flow essentially reflects a rapid decline in market risk appetite

This round of market movement just confirms his prediction.

How weak is Bitcoin’s actual performance?

Data speaks volumes. According to the latest market data, Bitcoin’s performance over the past week can be described as “weak and oscillating”:

• Current price around $68,900, down 11.21% over seven days
• Previously dropped from $93,300 to $86,400
• Briefly rebounded to $88,700
• But this rebound failed to hold, quickly falling back near $88,000

Repeated failed rebounds indicate market confidence has not yet recovered. Buying momentum remains weak, and selling pressure is still heavy.

How fierce are gold and silver?

In stark contrast to Bitcoin’s decline, traditional safe-haven assets are performing remarkably strongly:

• Gold has broken through the $5,000/oz mark for the first time in history
• Silver has hit new all-time highs
• Renowned investor and author of Rich Dad Poor Dad, Robert Kiyosaki, boldly predicts gold could rise to $27,000/oz in the future

Whether this prediction ultimately comes true or not, the current reality is clear—capital is massively shifting toward traditional safe havens.

The deeper meaning behind the meme

Billy Markus’s meme resonates because it captures the essence of the current market:

When the market falls into panic mode, the first assets to flee are often the riskiest.

This round of market decline isn’t about technical issues or a specific project; it’s a dramatic shift in overall market risk appetite. From crypto being sold off to gold and silver being snapped up, the flow of capital is straightforward and transparent.

The key question moving forward

To turn the tide in the crypto market, one fundamental question must be answered:

When will capital once again embrace risk?

In other words, when will geopolitical tensions ease, trade war shadows lift, and market sentiment shift from panic to optimism? Until these uncertainties are resolved, capital will continue to cling to traditional safe havens like gold and silver. As a high-risk asset, cryptocurrencies may have to sit on the sidelines a while longer.

This is the core message Billy Markus’s meme truly aims to convey—it’s not a negation of cryptocurrencies, but a straightforward depiction of market reality.