You can access the "Daily Market with JrKripto" summary, where we compile daily important developments in cryptocurrency, global and local markets, below.
Come on, let's analyze the general situation in the markets together and take a look at the most up-to-date evaluations.
Bitcoin (BTC) is currently trading at $ 82,700. While the $ 79,100 - $ 80,763 region stands out as a strong support area, if BTC can hold on at this level, it can rise towards the $ 85,600 and $ 90,700 levels. However, if this support is lost, there is a risk of a pullback to the $ 74,100 - $ 74,200 band.
Ethereum (ETH) is trading at $ 1,900. The $ 1,900 level is a critical support point, and if it breaks downward, a drop to $ 1,800 levels can be seen. In upward movements, $2,000 and $2,250 are being monitored as resistance levels. If ETH exceeds $2,250, it may accelerate towards $2,534 and $2,721.
Crypto News
- SEC Postpones Altcoin Spot ETFs
- Trump: I don't see any recession in the economy. The country will rise.
- Trump is considering lowering Canadian tariffs.
- The White House said the stock market is in a transition period.
- Senator Lummis has reintroduced the 'Bitcoin Act' bill, which proposes buying $1 million BTC in 5 years with a minimum 20-year hold.
- Texas lawmaker has introduced a bill to buy up to $250 million worth of Bitcoin and crypto.
Cryptocurrencies
Top Gainers
- XYO → up 27.8% to $0.01191196.
- AKT → up 25.1% to $1.49.
- PI → up 21.6% to $1.67.
- DAG → up 20.3% to $0.04818391.
- KET → up 16.4% to $0.16915201.
Top Fallers
- GRASS → down 12.1% to $1.29.
- ENA → down 9.1% to $0.37089987.
- HYPE → down 9.1% to $13.10.
- ARKM → down 8.6% to $0.53429102.
- APT → Down 7.1% to $5.18.
Daily Total Net ETF Inflows
BTC ETFs: -$371.00M
ETH ETFs: -$21.60M
Data to Watch Today
15:30 / US
Core Consumer Price Index (CPI) (Monthly) (February)
Expected: 0.3%
Previous: 0.4%
Consumer Price Index (CPI) (YoY) (February)
Expected: 2.9%
Previous: 3.0%
Consumer Price Index (CPI) (Monthly) (February)
Expected: 0.3%
Previous: 0.5%
16:30 / US
Energy Information Administration Crude Oil Stocks
Previous: 3,614M
17:00 / USA
Job Opportunities and Turnover Rate (JOLTS) (January)
Expectation: 7,710M
Previous: 7,600M
Global Markets
Global markets left behind a volatile day due to mutual tax moves and political developments. While Canada announced that it will impose a 25% tax on electricity it supplies to the US, Donald Trump announced that he will increase the customs duty applied to steel and aluminum coming from Canada to 50%. He also said that he will make additional increases if other high taxes are not removed. However, after Canada backed down from its electricity tax decision, Trump also signaled that he will reduce customs duties. Following these developments, positive pricing was seen in the markets.
On the other hand, Trump's announcement that he will invite Ukrainian President Zelenskiy back to the White House caused talk of a ceasefire in the Russia-Ukraine war. During this intense news flow, global stock markets experienced volatile movements and the major US stock indexes finished the day with losses. The S&P 500 lost 0.76%, the Dow Jones lost 1.14% and the Nasdaq lost 0.18%. While all sectors in the S&P 500 experienced declines, the sectors that suffered the most losses were industry, mandatory consumption and healthcare.
Markets continue to discuss uncertainties regarding growth, customs duties and inflation. The US February CPI data to be announced today is of great importance. According to expectations, headline inflation will increase by 2.9% annually and 0.3% monthly. Core inflation is expected to be 3.2% annually and 0.3% monthly. While Asian stock markets started the new day positively, European markets are also expected to have a strong opening.
Most Valuable Companies and Stock Prices
Apple (AAPL) → Market value: $3.32T, Share price: $220.84 (-2.92%)
Microsoft (MSFT) → Market value: $2.83T, Share price: $380.45 (+0.08%)
NVIDIA (NVDA) → Market value: $2.65T, Share price: $108.76 (+1.66%)
Amazon (AMZN) → Market value: $2.08T, Share price: $196.59 (+1.05%)
Alphabet (GOOG) → Market value: $2.01T, Share price: $165.98 (-1.09%)
Borsa Istanbul
Retail sales volume in Turkey increased by 12.5% annually and 2.0% monthly in January. This shows that domestic demand is strong. Total turnover in the industry, construction, trade and service sectors increased by 35.4% annually and 1.6% monthly.
Construction costs increased by 9.10% monthly in January, especially due to the increase in workers' wagesincreased, while the annual increase decreased from 34.3% to 26.6%. When adjusted for seasonal effects, the monthly increase was only 0.2%.
The Treasury borrowed a total of 102.4 billion TL in the bond auctions it held yesterday. The average interest rate of the 2-year bond was 37.28% annually.
Turkey's current account deficit data for January will be announced today. The current account deficit was 4.65 billion dollars in December and 10 billion dollars in total for 2023. The current account deficit is expected to be 2.7 billion dollars in January.
While sales were seen in the banking, insurance and aviation sectors yesterday, retail stocks, which had a sharp decline the day before, remained flat. BIST-100 index closed the day with a slight increase with purchases in industrial stocks. Aselsan, Koç Holding and Ford Otosan made the strongest contributions to the index.
After the BIST close, news of the Ukraine-Russia ceasefire came, which caused the Borsa Istanbul Futures Market (VIOP) to continue rising. Global markets, on the other hand, fluctuated due to growth concerns, customs duties and ceasefire news.
Yesterday, the BIST-100 index rose above the 10,500 level, but closed at 10,438. The 10,570-10,598 band is seen as a strong resistance zone. In order for the index to maintain its upward movement, the 10,357-10,276 levels are monitored as support.
If the 10,570-10,598 levels are exceeded, a new upward movement towards the 11,156-11,172 band may begin. However, if there is a drop below the 10,276 level, downside risks may increase.
Stocks That Gained the Most:
ETILR → increased by 10.00% to 6.49 TL.
KERVN → increased by 10.00% to 2.31 TL.
DAGHL → increased by 9.98% to 58.40 TL.
TERA → increased by 9.98% to 47.18 TL.
KFEIN → increased by 9.96% to 113.70 TL.
Stocks That Declined the Most:
KGYO → decreased by -93.97% to 2.89 TL.
GEDZA → decreased by -9.98% to 32.64 TL.
DIRIT → decreased by -9.93% to 22.68 TL.
AKYHO → decreased by -9.79% to 3.87 TL.
DGNMO → decreased by -9.73% to 6.96 TL.
Companies with the Highest Market Value on Borsa Istanbul:
QNB Finansbank (QNBTR) → 920.41 billion TL market value, 277.00 TL per share price, 0.82% increase.
Türkiye Garanti Bankası (GARAN) → 573.72 billion TL market value, 143.6 TL per share price, 5.12% increase.
Aselsan Elektronik Sanayi (ASELS) → 533.52 billion TL market value, 115.2 TL per share price, -1.54% decrease.
Turkish Airlines (THYAO) → 456.09 billion TL market value, 335.00 TL per share price, 1.36% increase.
Koç Holding (KCHOL) → 442.26 billion TL market value, 178.4 TL per share, 2.29% increase.
Precious Metals and Currency Prices
Gold: 3424 TL
Silver: 38.89 TL
Platinum: 1161 TL
Dollar: 36.59 TL
Euro: 39.90 TL
Hoping to meet again tomorrow with the latest news!
Author: Besim Şen
