You can access the "Daily Market with JR Crypto" 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 $ 82,900. While the $ 79,100 - $ 80,763 region stands out as a strong support area, if BTC can hold on in this region, 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 $ 1,905. The $ 1,900 level stands out as a critical support point. In case of an upward reaction, the $ 2,000 and $ 2,250 resistance levels will be followed. If ETH breaks the $2,250 level, it may accelerate towards the $2,534 and $2,721 levels. On the downside, losing the $1,900 support could increase the risk of a pullback towards the $1,800 levels.
Crypto News
- Trump and Putin will have a phone call today between 16:00 and 18:00
- Justin Sun: Big news is coming.
- Canary applies for a spot ETF for SUI.
- MicroStrategy buys 130 BTC.
- Binance announces 0% transaction fees on Binance Wallet until September.
Cryptocurrencies
Top Risers
KOGE → up 29.2% to $62.57.
PLUME → up 19.9% to $0.18208021.
CHEEMS → up 19.9% to $0.00000136.
PRIME → up 12.6% to $4.74.
PENDLE → up 10.2% to $2.37.
Top Fallers
WHITE → down 19.3% to $0.00035986.
PI → down 15.4% to $1.15.
LAYER → down 13.7% to $0.99190826.
VANA → down 12.4% to $5.94.
FARTCOIN → down 9.9% to $0.27491544.
Total Daily Net ETF Inflows
BTC ETFs: $156.50 Million
ETH ETFs: -$7.30 Million
Global Markets
US stock markets continued to rise on the first trading day of the week. The S&P 500 gained 0.64%, the Dow Jones gained 0.85% and the Nasdaq gained 0.31%. While 10 out of 11 major sectors finished the day in gains, real estate (1.65%), energy (1.56%) and essential consumption (1.55%) were the sectors that rose the most. Only the discretionary consumption sector lost value, with Tesla shares falling 4.79%.
Retail sales data released in the US came in weaker than expected. The monthly increase was 0.2%, compared to an expected 0.6%, while the annual increase slowed from 4.2% to 3.1%. Core retail sales increased by 0.3%, in line with expectations. Following the data, there was short-term selling pressure in the bond market, while long-term purchases were dominant. Today, construction permits and housing starts data for the housing sector will be monitored.
While Asian stock markets are on a positive course, European markets are also expected to start the day with buyers.
With increasing safe-haven demand, the price of gold increased by 0.6% to close the day at $3,001/ounce. This morning, it broke a record by rising to $3,012/ounce.
According to the OECD's March Economic Outlook Report, the global economy remains resilient. However, growth is expected to be 3.2% in 2024, 3.1% in 2025 and 3.0% in 2026. Previously, 3.3% growth was expected for 2025 and 2026. It is emphasized that changes in trade policies could negatively affect growth and inflation.
The report states that the US economy will grow by 2.2% in 2025 and 1.6% in 2026, while these rates will be 1.0% and 1.2% in the Eurozone, respectively. China's growth is expected to decline from 4.8% to 4.4%. The growth forecast for Turkey was revised from 2.6% to 3.1% for 2025, while the 2026 forecast was updated to 3.9%. Turkey's inflation forecast was raised from 30.7% to 31.4% for 2025.
Most Valuable Companies and Stock Prices
Apple (AAPL) → Market value: $3.21T, Share price: $214.00 (+0.24%)
NVIDIA (NVDA) → Market value: $2.92T, Share price: $119.53 (-1.76%)
Microsoft (MSFT) → Market value: $2.89T, Share price: $388.70 (+0.04%)
Amazon (AMZN) → Market value: $2.07T, Share price: $195.74 (-1.12%)
Alphabet (GOOG) → Market value: $2.02T, Share price: $166.57 (-0.63%)
Borsa Istanbul
In February, Turkey's central government budget had a deficit of 310.1 billion TL. The Treasury's cash balance is 397.6 billion TL deficit, while the budget deficit was 153.8 billion TL in the same period last year. In other words, the budget deficit has almost doubled this year. The non-interest budget deficit (the difference between income and expenditure excluding interest payments) was 170.4 billion TL. This deficit was 99 billion TL in the same period last year, which shows that the non-interest balance is gradually deteriorating. The total budget deficit reached 449.4 billion TL in the first two months of the year. The cumulative budget deficit of the last 12 months is 2.25 trillion TL, while the non-interest budget aThe avalanche is at 853.7 billion TL. These figures show that the government has a looser fiscal stance compared to the Medium Term Program (MTP) targets. In other words, while public expenditures remain high, revenues are not enough to close the budget deficit.
The total credit debt of the private sector from abroad increased by $5.2 billion in January and reached $177 billion. This level was recorded as the highest debt level since December 2019. The total debt of banks increased by $2.5 billion to $69.4 billion, the debt of the real sector increased by $2.4 billion to $98.2 billion, and the debt of non-bank financial institutions increased by $0.3 billion to $9.5 billion. The private sector needs to pay a total debt of $47.2 billion between March 2025 and January 2026. $31.4 billion of this debt belongs to banks, $11.5 billion to the real sector, and $4.3 billion to non-bank financial institutions. This situation may strain the financial structure of companies and increase the demand for foreign exchange.
The Treasury borrowed a total of 21.1 billion TL in the 7-year variable interest rate bond auction it held yesterday. Today, 3-year CPI (inflation) indexed bond auctions and 5-year fixed coupon bond auctions will be held. In addition, short-term external debt stock (January data) and housing price index (February data) will be announced today. The housing price index in particular will be a critical data in terms of seeing inflationary pressures.
After increasing for five consecutive days, the BIST 100 index followed a horizontal course yesterday and closed at 10,862. Although the 10,900 level was tested during the day, this level could not be sustained. The market is closely following the Trump-Putin meeting and global developments. A horizontal course is expected today depending on foreign markets.
Technically, the 10,874-10,902 resistance zone is important for the BIST 100 index. If this zone is exceeded, the rise towards the 11,156-11,172 band may continue. On the other hand, the 10,800 and 10,650 levels are important support. The stronger support zone is between 10,200-10,300. If the index can maintain these support levels, it may move towards the formation target of 11,500 levels. However, it may be recommended to reduce risks if the support levels are broken.
The BIST 100 index, which has increased by 15% in TL and 14% in dollar terms in the last three weeks, may enter a period of rest as it approaches the 11,000-11,250 resistance zone. However, since the peaks in dollar or inflation have not yet been reached, new record levels may be tested if the momentum strengthens again.
Tomorrow, the focus of the markets will be the interest rate decision of the US Federal Reserve (Fed). While the Fed is expected to leave interest rates unchanged, the statements will be important in terms of the direction of the markets.
Stocks That Gained the Most:
BNTAS → increased by 31.24% to 6.26 TL.
USAK → increased by 10.00% to 3.08 TL.
ETILR → increased by 9.98% to 9.48 TL.
MARKA → increased by 9.98% to 61.15 TL.
DERHL → increased by 9.95% to 41.98 TL.
Stocks That Decreasing the Most:
OSTIM → decreased by -74.18% to 2.84 TL.
BARMA → decreased by -9.99% to 18.74 TL.
KSTUR → decreased by -9.99% to 4,842.50 TL.
GRTHO → decreased by -4.93% to 356.50 TL.
SUNTK → decreased by -4.69% to 36.60 TL.
Companies with the Highest Market Value on Borsa Istanbul:
QNB Finansbank (QNBTR) → 1.05 trillion TL market value, 343.00 TL per share price, 9.94% increase.
Türkiye Garanti Bankası (GARAN) → 598.92 billion TL market value, 141.00 TL per share price, -1.12% decrease.
Aselsan Elektronik Sanayi (ASELS) → 554.95 billion TL market value, 122.10 TL per share price, 0.33% increase.
Koç Holding (KCHOL) → 462.80 billion TL market value, 187.30 TL per share price, 2.63% increase.
Turkish Airlines (THYAO) → 460.92 billion TL market value, 329.75 TL per share, -1.27% decrease.
Precious Metals and Currency Prices
Gold: 3546 TL
Silver: 40.22 TL
Platinum: 1188 TL
Dollar: 36.66 TL
Euro: 40.02 TL
Hoping to meet again tomorrow with the latest news!
Author: Besim Şen
