Dog meme reveals the truth about the market: When panic hits, cryptocurrencies are the first to suffer

The recent crypto market has experienced a “liquidity shift.” On one side, Bitcoin and altcoins are collectively under pressure, while on the other side, traditional safe-haven assets like gold and silver are surging. Amid this stark market divergence, industry voices are becoming increasingly clear—funds are starting to “vote with their feet.” Recently, Dogecoin founder Billy Markus posted a meme that perfectly captures this sentiment.

Market Signal Behind the Meme

Billy Markus is known for his sharp commentary and clever use of dog memes. This time, he reposted a meme with a simple yet powerful message:

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

No lengthy analysis, no complex charts—just a dog meme that accurately reflects the core logic of the current market: when panic sets in, the first assets to be abandoned are often cryptocurrencies.

The Geopolitical Storm Behind the Capital Shift

Markus’s meme responds to a major report:

Financial media outlet The Kobeissi Letter reported that gold and silver experienced a market value evaporation within just 90 minutes—what is being called “one of the largest asset rotations in history.”

The driving forces behind this are clear:

• Turbulent geopolitical tensions
• Rising trade friction expectations
• Systematic sell-off of risk assets
• Capital flooding into “traditional safe-haven assets”

In short, the market’s risk appetite has suddenly collapsed.

The Founder’s Long-Term Insight

If you follow Billy Markus’s comments over time, you’ll see this isn’t the first time he’s issued such signals. He has repeatedly stated:

• Bitcoin is not truly a “safe-haven asset,” but rather a highly volatile speculative instrument
• When traditional assets (especially gold and silver) start to rally strongly, cryptocurrencies are often the first to be liquidated
• During market panic, crypto assets tend to be hit hardest

This recent trend perfectly validates his judgment.

Data Comparison: Crypto vs. Traditional Assets

Bitcoin’s Dilemma

As of the latest data (February 12, 2026), Bitcoin is priced at $65,980, down -3.47% over the past week. This reflects recent downward pressure. Over the past few weeks, Bitcoin has experienced rapid retracements from highs; while rebounds occur, they lack sustained momentum and buying support.

Gold and Silver’s Rally

In stark contrast:

• Gold has broken through the historic $5,000 per ounce mark
• Silver has hit new all-time highs
• Noted investor and author of “Rich Dad Poor Dad,” Robert Kiyosaki, even predicts gold could rise to $27,000 per ounce

Whether this forecast proves accurate or not, market actions speak volumes—capital is accelerating into traditional safe-haven assets.

The Market’s Core Doesn’t Change, But Risk Appetite Does

Billy Markus’s meme may seem simple, but it reveals a deep market principle:

The crypto market’s predicament isn’t fundamentally about technology or project fundamentals; it’s about a macro environment shift in overall risk appetite.

When geopolitical tensions escalate or global economic outlooks weaken, capital automatically flows out of high-risk assets (like cryptocurrencies) and into perceived safer assets (like gold, silver, US Treasuries).

This isn’t a temporary trend but a deep-rooted capital allocation logic.

The Key Question Moving Forward

If the meme captures the current reality, then where is the key to breaking the deadlock?

The answer is straightforward—crypto markets need to regain investor confidence by waiting for a critical turning point: geopolitical easing, improved economic outlooks, or the gradual resolution of risk events. Only when panic subsides and risk appetite returns can crypto assets potentially regain favor.

Until then, the market consensus reflected in the meme may persist—during uncertain times, traditional safe-haven assets remain more attractive.