Pregledni rad
https://doi.org/10.46672/aet.12.1.5
OVERVIEW OF PRICE MOVEMENTS OF DIFFERENT INVESTMENT INSTRUMENTS IN 2025
Hrvoje Volarević
orcid.org/0000-0002-1087-6992
; Libertas međunarodno sveučilište
Sažetak
This paper analyzes the price movements
of selected instruments on global markets during 2025.
The analysis includes instruments from the commod
ities market—Brent crude oil and gold, along with
instruments from the securities market—the S&P 500
stock index and U.S. 10-year Treasury bonds (US 10Y),
as well as crypto assets, specifically the cryptocurrency
Bitcoin. These are different types of instruments that
achieved the highest market capitalization, that is that
were traded the most on global markets during 2025.
The collected data were systematized on a weekly basis,
and a qualitative analysis of the price movements of all
instruments was conducted, with a focus on the most
significant changes in their value throughout the year.
Also, graphical comparisons of the obtained results
for each type of investment instrument were used and
subsequently synthesized at the level of weekly price
changes. Data for this type of analysis were collected
using the Bloomberg Terminal, which provided access
to daily price movements of all instruments in 2025.
The results of the conducted analysis were synthe
sized on a weekly basis, enabling the establishment
of a cause-and-effect relationship between the reasons
for price changes and the typical market reaction (in
crease/decrease) in their movement throughout the
year. Based on the aggregated results, the conclusion
is that investment in oil and gold on commodity mar
kets largely depends on geopolitical uncertainties that
directly influence the rise or fall in the prices of these
commodities. In contrast, investment in stocks and
bonds primarily depends on macroeconomic indicators,
particularly inflation and the movement of central bank
benchmark interest rates. As for Bitcoin, pronounced
weekly price fluctuations are the result of changes in
global market liquidity, investors’ willingness to accept
higher market risk, and regulatory developments relat
ed to cryptocurrencies. The conclusion of the analysis indicates that Bitcoin price movements in 2025 were
to a significant extent recorded during the same time
intervals in which changes in the prices of selected stock
indices and government bonds were also observed. Such
a trend in the price movement of these instruments may
be expected in the future due to the noticeable increase
in regulation and standardization of cryptocurrencies
by international financial institutions. Accordingly,
cryptocurrencies are gradually losing their main char
acteristic that defines them as decentralized and finan
cially independent assets. Future research on this topic
may include a longer time series of data, a quantitative
statistical model, and/or different types of instruments
that could also demonstrate potential interdependence
between various variables and cryptocurrencies.
Ključne riječi
Hrčak ID:
347545
URI
Datum izdavanja:
1.6.2026.
Posjeta: 0 *