MARKET COMPASS
The last trading day of the week in traditional markets was positive for Asia. The rapid revenue growth of Chinese company Alibaba boosted optimism for the sector and supported technology companies. In addition, Trump’s recent statements that a trade deal with China is possible and that he has good relations with the country’s leader Xi are among the dynamics that underpin the positive mood.
European stock markets are expected to start the new day slightly higher, and Wall Street is expected to start the last trading day of the week with a similar picture. Market concerns about Trump’s tariffs seem to have eased somewhat and expectations that the US Federal Reserve (FED) will not be in a hurry to cut interest rates are slowly being digested. However, in addition to the inflation data, macro indicators that will provide information about the country’s growth outlook should also be carefully monitored during this period. In this respect, it would not be wrong to say that the PMI data to be released today may be important.
Digital assets have managed to remain resilient in this latest complex ecosystem. Major cryptocurrencies, which managed to gather buyers by not breaking critical supports downwards, recorded rises. We maintain our expectation for crypto assets to be sideways-volatile in the short term, slightly pressured in the medium term and bullish in the long term
From the short term to the big picture.
Trump’s victory on November 5, one of the main pillars of our bullish expectation for the long-term outlook in digital assets, produced a result in line with our predictions. In the process that followed, the appointments made by the president-elect and the increasing regulatory expectations for the crypto ecosystem in the US, as well as the emergence of BTC as a reserve, continued to take place in our equation as positive variables. Then, 4 days after the new President took over the White House, he signed the “Cryptocurrency Working Unit” decree, which was among his election promises, and we think that the positive reflection of the outputs it will produce in the coming days on digital assets may continue.
On the other hand, the expectations that the FED will continue its interest rate cut cycle, albeit on hiatus for now, and the fact that the volume in crypto-asset ETFs indicates an increase in institutional investor interest, support our upside forecast for the big picture. In the short term, given the nature of the market and pricing behavior, we think it would not be surprising to see occasional pause or pullbacks in digital assets. However, at this point, it is worth underlining again that we think the fundamental dynamics continue to be bullish.
Important Economic Calender Data
| Time | News | Expectation | Previous |
|---|---|---|---|
| Toncoin (TON) Exclusivity Deadline | – | – | |
| Fasttoken (FTN) 20M Token Unlock | – | – | |
| Immutable (IMX) 24.52M Token Unlock | – | – | |
| Metars Genesis (MRS) 10M Token Unlock | – | – | |
| 14:45 | US Flash Manufacturing PMI (Feb) | 51.3 | 51.2 |
| 14:45 | US Flash Services PMI (Feb) | 53.0 | 52.9 |
| 15:00 | US Existing Home Sales (Jan) | 4.13M | 4.24M |
| 15:00 | US Michigan Consumer Sentiment (Feb) | 67.8 | 67.8 |
| 16:30 | FOMC Member Jefferson Speaks | – | – |
INFORMATION
*The calendar is based on UTC (Coordinated Universal Time) time zone.
The economic calendar content on the relevant page is obtained from reliable news and data providers. The news in the economic calendar content, the date and time of the announcement of the news, possible changes in the previous, expectations and announced figures are made by the data provider institutions. Darkex cannot be held responsible for possible changes that may arise from similar situations.
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The investment information, comments and recommendations contained herein do not constitute investment advice. Investment advisory services are provided individually by authorized institutions taking into account the risk and return preferences of individuals. The comments and recommendations contained herein are of a general nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations.
