Morning Bulletin – Februar 24, 2025

MARKTKOMPASS

There is a mixed picture in Asia-Pacific stock markets this morning after Wall Street indices suffered significant losses on the last trading day of the past week with a mix of tariffs, inflation, consumer confidence and projections of major companies. In the continent, where Japanese stock markets are closed due to the holiday, it is effective that the Trump administration continues to target China with moves involving investment, trade and other issues.

European stock markets are expected to start the new day with a rise. There were no surprises in the German elections over the weekend. Attention now turns to the process of coalition building with clear leadership, which is seen as necessary to push forward critical fiscal reforms. For now, however, markets are not looking too pessimistic

On the digital assets front, the hacking incidents on Freitag were effective and continue to be effective on the direction of prices. There are some recovery efforts after the developments that caused confidence erosion for the cryptocurrency market. We think that the data and macro-political agenda from the US will be effective this week. We maintain our expectation for crypto assets to be horizontal-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 behaviors, 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

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INFORMATIONEN

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RECHTLICHER HINWEIS

The investment information, comments and recommendations contained in this document do not constitute investment advisory services. Investment advisory services are provided by authorised institutions on a personal basis, taking into account the risk and return preferences of individuals. The comments and recommendations contained in this document are of a general type. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based only on the information contained in this document may not result in results that are in line with your expectations.