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ChatGPT-Style Crypto App Sets AI Loose on Fed Rate-Bitcoin Price Relationship
The team behind Hong Kong-based Chain of Demand has built investment analytics engines for financial institutions and data providers like Bloomberg.
Updated Jun 13, 2023, 11:30 a.m. Published Jun 13, 2023, 11:30 a.m.
Riding the artificial intelligence (AI) popularity wave, investment data analytics firm Chain of Demand is providing a widget that examines bitcoin (BTC) price movements around the time of U.S. interest-rate changes just ahead of Wednesday's Federal Reserve rate announcement.
The Chain of Demand dashboard creators, who have worked on complex machine-learning engines with financial institutions and data providers such as Bloomberg, have pivoted into AI chatbots, specifically the popular language-recognition engine ChatGPT (Generative Pre-trained Transformer.)
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Technology-focused hedge funds tend to hire postgraduates with science backgrounds to conduct complex statistical analysis on very large data sets or to apply natural language processing. The explosion of generative AI platforms is leveling the playing field and is potentially well matched to the retail-first crypto trading space.
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An investor interested in bitcoin price movements around Fed rate announcements, for example, would want fast and easy access to a range of insights that go much deeper than a generic ChatGPT response, CEO AJ Mak said.
“We add in our own datasets and signals,” he said in an interview with CoinDesk. “When looking at [the] bitcoin price the day after the last 10 Fed rate announcements, I can then ask what else impacts the price. So that could be indicators of social sentiment around bitcoin and whale transactions over $100,000, for example.”
This week’s Fed rate/bitcoin price pattern modeler offers a teaser of what’s to come, Mak said. The Hong Kong-based company's dashboard is in beta testing and will be rolled out in about two months, he said.
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
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Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
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