11 月 25 日，Bitget 行情显示，BGB 短时突破 1.65 美元，续创历史新高；现报 1.6406 美元，24 小时 涨幅为 4.35%。

<div><p>11 月 25 日，Bitget 行情显示，BGB 短时突破 1.65 美元，续创历史新高；现报 1.6406 美元，24 小时 涨幅为 4.35%。</p></div>

BGB短时突破1.65美元，续创新高

On November 25, Bitget's market data showed that BGB briefly broke through $1.65, setting a new all-time high; it is currently trading at $1.6406, with a 24-hour increase of 4.35%.

<div><p>On November 25, Bitget's market data showed that BGB briefly broke through $1.65, setting a new all-time high; it is currently trading at $1.6406, with a 24-hour increase of 4.35%.</p></div>

BGB briefly broke through $1.65 and continued to hit a new high

The Pi Network community is raising the alarm about a new scam that has emerged, resulting in millions of Pi Token being stolen from users' wallets.
This scam exploits the payment request feature...

Pi Network has temporarily suspended payment requests after being scammed out of 4.4 million Pi coins.

A business backed by football star David Beckham has unexpectedly abandoned plans to expand its Bitcoin holdings, despite having recently successfully raised tens of millions of dollars with the goal of building a...

David Beckham-backed company abandons plans to buy Bitcoin.

The charts speak for themselves, and market sentiment has shifted accordingly. As 2025 draws to a close, we must face reality: Bitcoin has officially entered a bear market.

For months, traders and analysts have debated whether the price action was merely a consolidation phase or a deeper correction. Now, confirmation signals have arrived, not only in price but also in on-chain data, reversals in capital flows, and the convergence of fragmented market structures. While the term "bear market" often triggers panic, understanding the mechanisms behind this downturn is the first step to navigating this difficult period successfully.

This in-depth analysis will break down the factors defining the current landscape at the end of 2025...