2026-04-16 13:45 to 14:00 (UTC), ETH spot prices fell by 1.23% in just 15 minutes. The candlestick price range covered 2291.2 to 2336.98 USDT, with a swing of 1.96%. Market volatility intensified, sell pressure on the board became concentrated, and the trading community’s focus clearly shifted toward changes in capital outflows. The main driver behind this abnormal move is large-scale, concentrated selling from retail. In the spot market, net outflows in the first 5 minutes reached as high as -$95.57M. Although some lead/major funds attempted to accumulate at lower prices (net inflows of +$18.95M in large orders over 5 minutes), the overall scale was limited and unable to effectively hedge the overall short-term selling pressure. Meanwhile, the ETH futures market did not show extreme liquidations or large-scale position closures, indicating that the core of the abnormal move came from a spot supply-and-demand imbalance rather than leveraged liquidation cascades. In addition, ETH spot ETF funds have continued to experience net outflows in early April. On April 1, the single-day net outflow was $7.1M. The overall trend in Q1 was bearish, directly reflecting weakening institutional capital allocation intent and further undermining market confidence. Some funds have shifted to on-chain staking and emerging DeFi protocols. It is also worth noting that large holders with holdings in the 100,000-ETH range have continued to reduce their positions since the end of March. Whale capital outflows have persisted, and retail has followed the above signals, leading to a multi-factor selloff resonance effect in the short term. Although both the number of active addresses on the ETH chain and daily trading volume have hit historical highs, network usage and liquidity are overall strong, but capital flow has not formed any substantive spot buy orders, making it difficult to drive a price reversal. At present, short-term market risk remains significant. Investors should pay attention to the strength of subsequent retail selling, the direction of ETF fund flows, and changes in large-holder positions. If large holders and major funds do not form a strong follow-through/acceptance, the spot market may continue to be affected by the release of structural supply. It is recommended that investors monitor key support zones in real time, track large on-chain fund movements, and watch for macro news developments, in order to reasonably mitigate the risk of short-term price fluctuations and promptly obtain more market information.

Gate News message, according to Gate official announcements. Gate Yu Ebao is now live with AIA fixed-income wealth management products, offering three lock-up periods: 7 days, 14 days, and 30 days. The annualized return rate can be as high as 25%, and the minimum initial investment is 10 AIA. DeAgentAI is an AI agent infrastructure that covers the Sui, BSC, and BTC ecosystems, providing trustless autonomous decision-making capabilities for AI agents on-chain. Interest will be paid out in the form of AIA to participating users.

The IRS will enforce mandatory cost basis reporting for digital asset brokers starting April 15, 2026, requiring them to submit Form 1099-DA to report sales and exchanges. This aims to reduce underreporting of capital gains and align cryptocurrency tax reporting with traditional securities.

Gate News, according to Gate’s official announcement Gate’s Yuebi Bao launches an ETH 7-day term wealth management product with an additional rewards pool. Subscription users can enjoy a 10% annualized return bonus. This rewards pool cumulatively provides 500,000 OFC in additional rewards, using a first-come, first-served mechanism. The additional rewards will be distributed to users’ accounts on a daily basis in the form of an equivalent amount of OFC. The platform has an overall cap on the total activity rewards and a limit on the maximum amount each individual user can receive.

Ondo Finance filed a request with the SEC on April 13, seeking confirmation that recording securities interests on the Ethereum mainnet in a tokenized form is compliant under certain patterns. Ondo believes that this on-chain recording can improve collateral monitoring, optimize processes, and simplify reconciliations, with the goal of operating in coordination with traditional finance.

The message says that on April 13, a certain account placed a win bet of about $58k on Bilibili Gaming in the League of Legends esports World Cup China qualifiers, with a win rate of over 77%. Bilibili Gaming has been in good form recently, while JD Gaming has performed poorly; the winner will have a chance to advance to the main esports World Cup event.

Gate News message: On April 13, according to Gate Market data, as of the time of writing, VVV (Venice) is trading at $8.20. In the past 24 hours, it is up 0.47%, with a high of $8.28 and a low of $7.72. Its current market cap is approximately $373 million. Venice is a privacy-focused artificial intelligence platform that offers services such as private conversations and image creation. The platform uses a privacy architecture to ensure user data security; all data is stored on the user’s device rather than on servers. Venice provides multiple advanced open-source models, including Claude, GPT, and others. It supports developers in building high-performance applications through OpenAI-compatible APIs, while also working to eliminate any form of censorship on the platform. This information does not constitute investment advice. Investors should be mindful of market volatility.

Bittensor co-founder Jacob Steeves responded to Covenant AI’s exit from the network, proposing to restart the subnet governance mechanism and bring in community votes to elect the team. He believes this is an opportunity to redefine the subnet’s form and criticized Covenant AI’s founder’s decision-making.

Gate US launched a tax dashboard on April 9, providing users with a unified interface to access tax information and tools. Users can submit W-9 or W-8 forms according to IRS requirements, view the applicable IRS forms, and get reminders of filing deadlines.

Crypto analyst Ali Martinez says that current market volatility could provide cycle-level get on board opportunities, and has set multiple key price ranges based on on-chain data. The main support band is $63,111 to $70,685; if it breaks below, it could lead to a liquidity vacuum. In the long term, BTC is approaching its historical uptrend line, and it’s recommended to accumulate in batches.