Entering the second day of April, with less than 20 days until Bitcoin’s fourth halving, the market experienced a general decline despite the prevailing positive sentiment. In a span of just 20 minutes, the price of Bitcoin dropped from $69,000 to below $67,000, and other major cryptocurrencies such as Ethereum, BNB, SOL, and AVAX also saw varying degrees of decline. According to Coinglass data, liquidations reached a staggering $162 million in the past 24 hours, with the majority being long positions. This phenomenon has led to a reassessment of the upcoming halving event in the market.
The direct impact of significant net outflows from ETFs (Exchange-Traded Funds) is considered to be the main reason for this decline. On April 2, according to HODL15Capital data, Bitcoin spot ETFs saw a net outflow of $88 million, with IBIT having a net inflow of $164 million and Grayscale GBTC experiencing a net outflow of $303 million. Additionally, according to Farside Investors data, ARKB also saw its first net outflow, amounting to $300,000. Grayscale Bitcoin Trust, iShares Bitcoin Trust, and Fidelity Wise Origin Bitcoin Fund all experienced a decline of around 3% yesterday. These figures have had an impact on market confidence and are likely the main reasons for the overall market decline.
Despite this volatility, the overall market sentiment remains bullish due to the certainty of the upcoming halving. According to Alternative data, the cryptocurrency fear and greed index is currently at 79, compared to 81 last week, indicating that the market is still in a state of extreme greed and has not cooled down.
In anticipation of Bitcoin’s fourth halving, a historic event, the 3EX AI trading platform will soon launch a trading competition and a series of activities to encourage users to seize the opportunity of this upward trend with the power of AI trading. Stay tuned for official announcements for more details.
The application of 3EX AI trading in volatile markets is both a challenge and an opportunity in the cryptocurrency market. As cryptocurrency trading becomes increasingly popular, investors are in need of intelligent tools to optimize their trading strategies, reduce risks, and increase profit opportunities. In this context, the innovative application of GPT technology by the 3EX AI trading platform demonstrates its unique value and advantages in volatile markets.
The AI trading feature provided by the 3EX platform allows users to create AI strategies and execute trades automatically. This not only provides users with new ways to customize strategies and optimize them based on real-time simulated profits and losses but also improves the efficiency and effectiveness of trading. The AI trading strategies offered by the 3EX platform, such as indicator-based strategies, template-based strategies, or strategies based on textual descriptions, provide users with the possibility of personalized and customized strategies. Even in volatile markets, AI systems can analyze market data in real-time, allowing users to quickly adjust their trading strategies to adapt to rapid market changes.
Furthermore, the AI trading copycat feature on 3EX enables users to easily follow outstanding trading strategies in the market with just one click. This feature is particularly valuable for users who don’t have the time to closely monitor market fluctuations. 3EX also provides AI trading copycat insurance services to offer users a more efficient and secure trading experience while reducing the potential risk of asset loss.
Despite the uncertainties brought by market volatility, AI trading offers a new solution aimed at enhancing trading efficiency and security. The AI trading feature on the 3EX platform, along with copycat trading and insurance against liquidation, provides powerful tools for users and traders to adapt to the rapid changes in the market.
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