Ex-U.S. Treasury Economist Mark Dow Reacts to Bitcoin Crash

Mark Dow, a hedge fund trader and former U.S. Treasury and IMF economist, reacted to Bitcoin's crash below $60,000 on June 25. Dow criticized promoters who 'shill Bitcoin to retail traders and make quick exits,' stating the Oct. 6, 2025 high of $126,080 was Bitcoin's market top. The economist is known for opening a Bitcoin short position in December 2017 near $20,000 and closing it in December 2018 at $3,500.

Mark Dow Shorted Bitcoin Near $20,000 in December 2017

Mark Dow opened a Bitcoin short position when the cryptocurrency traded close to $20,000 in December 2017. Within a year, Bitcoin crashed to $3,500 and Dow decided to close his short position in December 2018. "I'm done. I don't want to try to ride this thing to zero," he told Bloomberg. The blockbuster trade turned Dow into a legendary figure within the crypto community.

U.S. President Donald Trump emerged as a prominent voice of Bitcoin as Wall Street also decided to issue exchange-traded funds (ETFs) tied to the cryptocurrency. Bitcoin eventually hit a new all-time high of $126,080 on Oct. 6, 2025. But the flash crash only a few days later led to a downturn from which the cryptocurrency is still trying to recover.

Dow Reacts to Bitcoin Crash Below $60,000 on June 25

Back in November, Dow reacted to the crash with a dig at maximalists like real estate mogul Grant Cardone, "You know how you know bitcoin is over? Grant Cardone is pitching it in his ads."

As Bitcoin crashed below $60,000 on June 25, he asserted that the high last year was indeed Bitcoin's top. The former economist slammed those who he claimed shill Bitcoin to retail traders and make quick exits themselves. "No grifter left behind. Remember the ppl who made their bank trying to shill it to you."

As per CoinGlass, Bitcoin positions worth $479 million have been liquidated within the last 24 hours due to the volatile price movement. Bitcoin was trading at $59,552.91 at the time of writing, as per Decibel.

FAQ

What did Mark Dow do with Bitcoin in December 2017? Mark Dow opened a Bitcoin short position when the cryptocurrency traded close to $20,000 in December 2017 and closed it in December 2018 when Bitcoin fell to $3,500.

What did Mark Dow say about Bitcoin's crash on June 25? Dow asserted that Bitcoin's all-time high of $126,080 on Oct. 6, 2025 was the market top and criticized promoters who 'shill Bitcoin to retail traders and make quick exits,' stating 'No grifter left behind. Remember the ppl who made their bank trying to shill it to you.'