12 月 31 日，据 Bubblemaps 发布数据，在 TGE 1 天后，已有约 2.5 亿美元资金自 Lighter 平台撤出。

<div><p>12 月 31 日，据 Bubblemaps 发布数据，在 TGE 1 天后，已有约 2.5 亿美元资金自 Lighter 平台撤出。</p></div>

Bubblemaps：TGE后2.5亿美元资金自Lighter平台撤出

According to data released by Bubblemaps on December 31, approximately $250 million had been withdrawn from the Lighter platform one day after TGE.

<div><p>According to data released by Bubblemaps on December 31, approximately $250 million had been withdrawn from the Lighter platform one day after TGE.</p></div>

Bubblemaps: $250 million in funding withdrawn from Lighter platform after TGE

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.

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...

Bitcoin has officially entered a bear market: On-chain evidence, fund flows, and how investors can profit.

There is no eternal winter or summer in crypto; survival is the only narrative.