As of October this year, the cryptocurrency market continued to be sluggish, with a total market value loss of more than $213 billion, mainly due to Bitcoin's failure to break through the key resistance level of $66,000. With global geopolitical tensions, market sentiment has deteriorated, and 99% of cryptocurrency prices have fallen for the fourth consecutive day, disappointing investors. Dogecoin founder Billy Marcus expressed his concerns about the future of the market on social media, quoting the lines of "old" Captain America, wondering whether cryptocurrency can return to the frenzy.

As we enter the tenth month of this year, the cryptocurrency market continues to struggle, with the total market value having lost more than $213 billion since the beginning of this week. Of course, much of this decline is due to the failure of the market flagship Bitcoin to break through the key dynamic resistance level of $66,000.

Negative price action was accompanied by panic among market participants due to the worsening geopolitical situation in the world.

As a result, 99% of cryptocurrencies plummeted in price and continued to fall for the fourth consecutive day, bringing disappointment and testing the nerves of cryptocurrency enthusiasts.

From memes to crashes

One of the prominent figures in the cryptocurrency space is Billy Markus, also known by the nickname Shibetoshi Nakamoto, who was involved in the creation of the major meme cryptocurrency Dogecoin DOGEUSD could not shake off the current situation and provided a rather epic commentary.

Markus-Nakamoto recently posted on the social network X, where he has more than 2 million followers, staging a conversation asking whether the cryptocurrency market can stop falling and return to the unstoppable frenzy phase, and the market responded to him with the famous meme phrase of the "old" Captain America from the movie (Avengers: End Game) (2019).

Hey crypto can you stop the crash and go back to the unsustainable frenzy

Cryptocurrency: pic.twitter.com/J9CP5utpsx — Shibetoshi Nakamoto (@BillyM2k) October 3, 2024

Marcus’ disappointment is understandable as other traders and investors who believed in Uptober felt the same way. The green candle on the charts did not appear and this disappointment only seemed to cause Bitcoin and other digital assets to move lower.