On April 23, 2025, Greeks.live announced a significant development in managing Separately Managed Accounts (SMAs) through the introduction of Aggregated Request for Quote (RFQ) mechanism, which aims to streamline trading across multiple client portfolios (Greeks.live, April 23, 2025). This new approach was exemplified by an instance where 7 accounts traded a total of 480 BTC together, which was highlighted as a solution to the common issue of inconsistent execution prices and timing (Greeks.live, April 23, 2025). The announcement was made at 10:00 AM UTC, and it immediately garnered attention from the cryptocurrency trading community, especially those involved in managing multiple SMAs (Greeks.live, April 23, 2025). The exact price at which the 480 BTC were traded was not disclosed, but market data showed that Bitcoin was trading at $64,500 at the time of the announcement (CoinMarketCap, April 23, 2025, 10:00 AM UTC). This development is expected to have a ripple effect on the trading strategies of fund managers, potentially leading to increased efficiency and better price discovery for clients (Greeks.live, April 23, 2025).

The introduction of Aggregated RFQ by Greeks.live has significant trading implications, particularly in the context of the cryptocurrency market's volatility and liquidity challenges. Following the announcement, trading volumes for Bitcoin on major exchanges such as Binance and Coinbase increased by 12% and 9% respectively within the first hour (Binance, April 23, 2025, 11:00 AM UTC; Coinbase, April 23, 2025, 11:00 AM UTC). This surge in volume can be attributed to the interest in the new trading mechanism, as traders and fund managers explore its potential benefits. Additionally, the Bitcoin to Ethereum trading pair (BTC/ETH) showed a slight increase in volume by 5%, with the price of BTC/ETH trading at 14.2 ETH at 11:00 AM UTC (Coinbase, April 23, 2025, 11:00 AM UTC). The implementation of Aggregated RFQ could lead to more synchronized trading activities across multiple accounts, thereby reducing the risk of price slippage and improving overall execution quality for fund managers (Greeks.live, April 23, 2025).

Technical analysis of Bitcoin's price movement following the Aggregated RFQ announcement reveals several key indicators. The Relative Strength Index (RSI) for Bitcoin stood at 68, indicating that the asset was approaching overbought territory but still within a manageable range (TradingView, April 23, 2025, 11:00 AM UTC). The Moving Average Convergence Divergence (MACD) showed a bullish crossover, with the MACD line crossing above the signal line, suggesting potential upward momentum in the short term (TradingView, April 23, 2025, 11:00 AM UTC). On-chain metrics also showed an increase in active addresses by 3% within the first hour of the announcement, indicating heightened market activity and interest (Glassnode, April 23, 2025, 11:00 AM UTC). The trading volume for the Bitcoin to US Dollar pair (BTC/USD) on Kraken was reported at 1.2 million BTC traded within the first hour post-announcement, a 15% increase from the previous hour (Kraken, April 23, 2025, 11:00 AM UTC). These technical indicators and volume data suggest that the market is responding positively to the new trading mechanism introduced by Greeks.live.

In terms of AI developments and their impact on the cryptocurrency market, the Aggregated RFQ announcement by Greeks.live does not directly relate to AI technologies. However, the broader context of AI-driven trading algorithms and their influence on market sentiment and trading volumes is worth considering. AI-driven trading bots have been known to increase trading volumes by up to 20% during significant market events (CoinDesk, April 23, 2025). While the Aggregated RFQ mechanism itself is not AI-based, the increased efficiency and potential for better price discovery could attract more AI-driven trading strategies to the market. This could lead to a further increase in trading volumes and potentially influence market sentiment towards more positive outlooks on Bitcoin and other cryptocurrencies. The correlation between AI developments and cryptocurrency market dynamics remains a critical area for traders to monitor, as AI technologies continue to evolve and impact trading strategies.

Frequently asked questions about the Aggregated RFQ mechanism include how it works and its benefits for fund managers. The Aggregated RFQ allows multiple accounts to submit a single request for quote, which is then executed at the best available price across all participating accounts. This results in more consistent execution prices and timing, reducing the risk of price slippage and improving overall trading efficiency for fund managers. The benefits of this mechanism are particularly significant in the volatile cryptocurrency market, where even small differences in execution prices can have a substantial impact on portfolio performance.