Crypto Markets Plunge as 'Rektember' Bears Down

The cryptocurrency market has started the month of September on a sour note, with many assets trading in the red. According to CoinGlass data, $361 million in crypto positions have been liquidated across the market in the last 24 hours.

Dogecoin co-founder Billy Markus, who goes by Shibetoshi Nakamoto on X, reacted to the selloff with a tongue-in-cheek observation: 'September starting great as always.'

Markus' comment is a nod to the historical trend of September being a poor month for financial markets. Since 2013, Bitcoin has averaged a loss of around 3% in September, and it's been a negative month for traditional markets as well.