MARKTKOMPASS
Wall Street spot markets, which were closed yesterday, will open today and futures are pointing to a positive opening. In Europe, indices started the day in positive territory, erasing most of their gains, but then managed to start rising again. The defense sector continued to rise on expectations that European governments will increase military spending to support Ukraine. However, the summit between European leaders in Paris ended without any concrete steps for a proposal to send peacekeepers to Ukraine. Meanwhile, US and Russian officials met in Riyadh, Saudi Arabia, to discuss ending the war in Ukraine, leaving both Ukraine and European countries out of the talks.
In digital assets, we continue to see sideways price changes. Except for SOL, which came under more radical pressure with Argentine President Javier Milei’s statements on LIBRA, major cryptocurrencies are not far from their price levels in the last two weeks, although there are fluctuations during this period. We maintain our expectation of sideways-volatile in the short term, slightly pressured in the medium term and bullish in the long term.
Later in the day, President Trump will hold a press conference in Washington DC regarding his recent executive orders and statements from some US Federal Reserve officials will be in the spotlight.
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.
HIGHLIGHTS OF THE DAY
Wichtige Daten des Wirtschaftskalenders
| Zeit | Nachrichten | Erwartung | Vorherige |
|---|---|---|---|
| 15:20 | FOMC Member Daly Speaks | ||
| 18:00 | FOMC Member Barr Speaks | ||
| Tentative | President Trump Speaks |
INFORMATIONEN
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RECHTLICHER HINWEIS
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.
