According to Gordon (@AltcoinGordon), the current situation in the cryptocurrency markets is perceived to be worse than the previous collapses of FTX and LUNA. This suggests a significant level of market distress or potential risks that traders should be aware of. Although specific details are not provided, the comparison to FTX and LUNA highlights the gravity of the current market conditions. Traders should exercise caution and stay informed of any further developments from reliable sources.