其实，不是“币圈完了”
是过去靠快人一步信息差和行动力就能大口吃肉的大增量币圈完了，现在得靠存量时代极致内卷生存；
是过去技术叙事信手拈来靠蹿个局就能呼风唤雨的币圈完了，现在得靠有价值的技术、有用产品和庞大社区说话；

Airdrop Aggregator

市场情绪，回到“币圈完了”阶段。
过去，大概在 312/ ftx 崩盘这种级别的事情，才会出现。
而现在， btc 还在9万附近，这种错位感令人恍惚。

0xWizard

Twitter

Actually, it's not that "the crypto is finished."
The era of large- crypto growth, where one could make a fortune by being one step ahead in information and action, is over. Now, one must survive in an era of extreme involution with limited resources.
The crypto, where technical narratives were readily available and manipulation of events could bring immense influence, is over. Now, valuable technology, useful products, and a large community are what truly matter.

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...