As the cryptocurrency market fell sharply, triggering about $1 billion in liquidations over a day, Dogecoin’s official X account posted a self-deprecating message about the downturn. The post likened the sloping chart to the “Downward-Facing Dog” yoga pose. Coinglass data showed long-position liquidations dominated. Dogecoin slid to $0.072 intraday before trimming losses. The market has stayed weak for more than eight months as liquidity declines.

Bitcoin fell overnight to as low as $58,000, marking a new 21-month low after a shock from the U.S. personal consumption expenditures (PCE) price index. After Wall Street opened, it slid to $58,035 on Bitstamp, a level last seen in September 2024. A hotter-than-expected May PCE reading lifted volatility across risk assets. Stocks wobbled and crypto saw $600 million in liquidations within an hour.