Dogecoin Creator Delivers Hilarious Crypto Verdict as Bitcoin Bulls Lose $363 Million

Whoever thought that the crypto market’s roller coaster behavior only irritates retail traders and casual speculators has been proven wrong once again, as Dogecoin creator Billy Markus, better known as “Shibetoshi Nakamoto,” demonstrated in his latest post.

In his signature tongue-in-cheek manner, Markus declared that “crypto should only go up and not down.” The line, a half-joke and half-truth, echoes the long-running meme that “numbers only go up” and, at the same time, captures what so many traders secretly want from this market — a one-way elevator to riches.

Reality, however, keeps reminding everyone that the elevator often goes in both directions at full speed. In just the last 24 hours, $563.51 million worth of positions were liquidated across crypto derivatives. Out of that figure, $363.53 million were long positions, showing how brutal the downside can be for traders who pile in too aggressively. 

The trigger was Bitcoin’s failed attempt to smash through the $126,000 level toward a new all-time high. Bulls loaded up, markets got overcrowded and the inevitable flush came as a liquidity sweep that punished optimism in the most direct way possible.

Endless upside

The irony in Markus’s comment lies in its timing — traders had just watched their numbers-only-go-up dream collapse in a cascade of red candles.

Yet that is why his verdict resonates. It captures the essence of crypto’s contradictory charm: everyone knows volatility will cut both ways, but most still cling to the fantasy of endless upside.

In a market where humor often carries more truth than technical analysis, the DOGE creator has once again nailed the mood of millions with a single offhand remark.