August is so hot it feels like burn, but the crypto market is cold to the extreme. The group chat is completely silent; the candlestick chart just clings and won’t move. “All in” and “to the moon” have become old phrases that nobody mentions anymore. Those who used to call each other brothers in the bull market now can’t even be bothered to send stickers. The project team isn’t updating anymore; the KOLs have deleted all their forecasts. Only the fans of the mining rigs are still spinning. That’s the one voice—#PoW —that doesn’t ask about the market. No matter whether your season is mid-summer or deep winter, computing power keeps running, electricity keeps burning, and the block height keeps stacking higher. A bear market can’t freeze something like PoW that uses physical cost to carry itself—it will only clear out the weeds of traders who gamble for quick profits and shorts.