Wu Says Daily Selected Crypto News - Altcoin Selling Pressure Hits Five-Year High, Net Sell-off of $209 Billion in 13 Months

1. Altcoin Selling Pressure Reaches Five-Year High, Net Selling of $209 Billion in 13 Months

Altcoin selling pressure hits a nearly five-year high. The cumulative buy-sell difference for altcoins excluding BTC and ETH has dropped to -$209 billion. As of January 2025, this indicator remains close to zero, representing the last balance point of supply and demand. Since then, there have been 13 consecutive months of unilateral net selling. Market structure shows retail funds have largely exited, capital has rotated, and there are no signs of institutional accumulation. Analysis indicates this is not a short-term correction but rather over a year of sustained net selling pressure in spot markets, with buyer strength clearly insufficient.

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2. CFTC Chair: Crypto Market Structure Legislation Soon to Be Signed into Law

The Chair of the U.S. Commodity Futures Trading Commission (CFTC) stated that the Crypto Market Structure Legislation is “soon to be signed into law.” He said, “We want to proactively prepare the legislative framework for crypto and cannot allow a second Gary Gensler to overturn everything. We will ensure the bill passes smoothly.”

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3. Willy Woo: Bitcoin Bearish Trend Continues to Strengthen, Volatility Has Not Yet Peaked

Renowned analyst Willy Woo posted that Bitcoin’s bearish trend is still intensifying, which is bad news for long-term bulls. He pointed out that volatility is a key indicator for quant analysts to detect trends. When volatility spikes rapidly, BTC enters a bear market; sustained rising volatility indicates the bearish trend is strengthening; when volatility peaks in the later stages of a bear market, the trend begins to weaken. Typically, a second or third smaller volatility peak appears at macro bottoms, reflecting market capitulation.

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4. Claude Opus 4.6 Coding Vulnerability Led to Moonwell Loss of $1.78 Million

Smart contract auditor pashov tweeted that Claude Opus 4.6 contained vulnerable code, leading to an attack that resulted in approximately $1.78 million in losses. The price of cbETH was incorrectly set at $1.12, whereas it should have been around $2,200. Project PR shows that the code was jointly authored by Claude, which may be the first “vibe-coding” incident causing a Solidity hack. SlowMist founder Cosine added that this event occurred on DeFi lending protocol Moonwell and was caused by a basic error in the oracle pricing formula.

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5. Peter Thiel and Related Entities Controlled by Founders Fund Have Liquidated All Ordinary Shares of ETHZilla Corporation

U.S. SEC documents show that PayPal co-founder Peter Thiel and entities controlled by Founders Fund had liquidated all holdings of common stock in ETHZilla Corporation by the end of 2025, reducing their stake to zero. The filings were made under Schedule 13G passive rules, with the declarant stating no common control or intent to influence company control. Thiel’s investment team previously acquired 7.5% of ETHZilla (formerly 180 Life Sciences) through its entities.

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