Merkle Capital sees scope for crypto market growth

Merkle Capital, the first digital asset fund manager in Thailand to be licensed by the Securities and Exchange Commission (SEC), has identified three global risks that could shape market sentiment and investment flows in the second half of 2025, potentially driving Bitcoin to a new high of US$120,000.

- NUNTAWUN POLKUAMDEE

Investment advisor Woramet Chansen said investors should monitor three macro themes across short, medium and long-term horizons, comprising the Middle East conflict, escalating trade tensions, and the US Federal Reserve's monetary policy trajectory.

The ongoing geopolitical tensions between Israel and Iran remain a short-term concern, with markets likely already pricing in a peak level of fear, he said.

While the situation remains fluid, broader financial markets may remain relatively resilient unless the conflict escalates further, such as closure of the Strait of Hormuz or the involvement of third-party nations, said Mr Woramet.