Recently, the market has been really bad. Whether it’s the FUD targeting exchanges or the drama between KOLs, things are escalating. Tactically speaking, it’s hard to say if this is just plain business competition or a bear market strategy to attract traffic. But regardless of the intention, we can’t ignore that this is a collective unconscious frenzy in a progressively worsening environment. The deteriorating environment in the crypto space reminds me of Lu Qiyuan’s theory of “centripetal collapse.” “Centripetal collapse” refers to a state where capital, resources, and power no longer expand outward (like the early days of geographical discoveries or global trade expansion) but instead shift to a zero-sum game. Capital starts to extract wealth from the middle and lower classes and the real economy through institutional design, monopolies, or financial means. Using the human body as an analogy, it’s like how, in extreme cold, the body prioritizes supplying blood to vital organs over the limbs. This is why fingers and toes can freeze off in extreme conditions. In the relatively closed environment of the crypto space, as resources within the existing system are continuously extracted, the “body” of the ecosystem will gradually deteriorate. Larger, oxygen-consuming, and energy-intensive entities may feel the impact more acutely—just like how dinosaurs went extinct after environmental changes on Earth. After the early “geographical discovery” phase of incremental expansion in crypto (DeFi, NFTs, meme booms), we’ve now shifted to a zero-sum game: exchanges siphoning off funds, institutions monopolizing liquidity, and big projects getting priority while smaller ecosystems face extinction—it’s all inevitable. Everyone should recognize their position in this system and decide whether it’s better to conserve energy and stay out of the fray or jump in and take a shot. #Crypto #BearMarket #FUD #DeFi #NFT #CryptoDrama