Crypto Market Weekly Report: Miner Selling Hits Record High as Regulatory and Security Risks Persist

In the third week of April 2026, the crypto market presented a complex picture of mixed signals. Bitcoin retreated to around $74,000 after breaking above $78,000, while Ethereum's on-chain data showed strong performance. Meanwhile, regulatory battles and security incidents added to market uncertainty.

**Miner selling hit an all-time high.** In the first quarter of 2026, publicly traded Bitcoin miners sold more than 32,000 BTC, setting a new record for quarterly liquidation volume. These sales reflect a strategic shift by miners — redirecting capital toward AI infrastructure amid rising mining costs.

**Ethereum roadmap focuses on quantum safety.** Ethereum co-founder Vitalik Buterin unveiled a five-year roadmap for the blockchain, emphasizing quantum safety and stronger scalability as core priorities. Short-term goals include raising the gas limit, extending the EVM to incorporate zero-knowledge proofs (CKEVM), and supporting quantum-resistant signatures via computation abstraction. On-chain data shows that Ethereum processed over 200 million transactions in the first quarter of 2026, a roughly 43% increase quarter-over-quarter, marking the highest quarterly activity ever.

**Regulatory博弈 enters a critical phase.** In the United States, the White House publicly demanded on April 19 that the banking industry drop its opposition to the stablecoin yield provisions of the CLARITY Act, with the outcome of the standoff expected within the next two weeks. In China, eight government departments including the People's Bank of China issued a joint notice reaffirming that virtual currency-related business activities are illegal financial activities, continuing the prohibition policy on virtual currencies. The Hong Kong Monetary Authority issued its first batch of stablecoin issuer licenses on April 10, granting only two licenses out of 36 initial applications, reflecting a cautious approach.

**Security incidents raise market concerns.** In just the first 20 days of April, crypto protocols suffered over $606 million in losses from hacks, marking the most severe monthly loss record since February 2025. One of these attacks stole nearly $300 million from a low-profile crypto project and triggered a liquidity crisis on the DeFi lending platform Aave, prompting users to urgently withdraw approximately $9 billion in funds.

**Market sentiment has improved somewhat.** The Crypto Fear & Greed Index has rebounded to 29 ("Fear"), up from 12 ("Extreme Fear") last week and last month, reflecting eased investor anxiety. Spot Bitcoin ETFs recorded approximately $996 million in net inflows last week, their strongest weekly performance in three months.

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