You can access the "Daily Market with JR Crypto" summary, where we compile daily important developments in cryptocurrency, global and local markets, below.
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 $ 83,400. 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 $ 1,890. 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 monitored as resistance levels. If ETH exceeds $2,250, it may accelerate towards $2,534 and $2,721.
Crypto News
Secondary regulations on crypto assets were published in the Official Gazette.
SEC Accepts Filing of Franklin Ethereum ETF Staking Proposal.
The case between Ripple and SEC may end soon.
Canadian Prime Minister Mark Carney is ready to meet with US President Trump to end the customs war.
Franklin applied for Solana ETF with CBOE.
The Central Bank of Russia will allow investors to buy cryptocurrencies in a limited way.
Cryptocurrencies
Top Risers
TOSHI → Up 31.0% to $0.00046308.
ELF → up 27.6% to $0.28343156.
RED → up 23.6% to $0.59271829.
FARTCOIN → up 22.9% to $0.29935159.
SPX → up 22.4% to $0.35315314.
Top Fallers
MEOW → down 12.0% to $0.00187259.
AKT → down 10.3% to $1.34.
BTSE → down 5.8% to $1.03.
AIC → down 5.0% to $0.21304842.
ARKM → down 4.4% to $0.51157516.
Total Daily Net ETF Inflows
BTC ETFs: $13.30 Million
ETH ETFs: -$10.30 Million
Data to Watch Today
15:30 / US
Unemployment Claims
Reported: 226K
Previous: 221K
Producer Price Index (PPI) (Monthly) (February)
Expected: 0.3%
Previous: 0.4%
Global Markets
February inflation data in the US came in lower than expected, creating a positive atmosphere in stock markets. The slowdown in inflation increased expectations for a rate cut, while stock markets saw an increase.
General inflation (CPI) in February was announced as 0.2% monthly and 3.1% annually. Expectations were 0.3% and 3.2%, respectively. Core inflation (excluding energy and food) also came in below expectations. The decline in airfare and new vehicle prices, as well as the slowdown in energy and food prices, were effective in the decline in inflation.
Following these developments, the Nasdaq rose 1.22% and the S&P 500 rose 0.49% in the US stock markets, while the Dow Jones fell 0.20%. The best performing sectors were technology, telecommunications and discretionary consumption. The healthcare, essential consumption and raw material sectors lost value.
In addition to this rise in stock markets, the VIX index, which measures fear and uncertainty in the markets, also fell. European stock markets closed the day with an increase following the US inflation data and positive expectations regarding the Ukraine-Russia war.
Today, markets will follow the US Producer Price Index (PPI) data. This data may provide more clues about the course of inflation and affect market movements.
Most Valuable Companies and Stock Prices
Apple (AAPL) → Market value: $3.26T, Share price: $216.98 (-1.75%)
Microsoft (MSFT) → Market value: $2.85T, Share price: $383.27 (+0.74%)
NVIDIA (NVDA) → Market value: $2.82T, Share price: $115.74 (+6.42%)
Amazon (AMZN) → Market value: $2.11T, Share price: $198.89 (+1.17%)
Alphabet (GOOG) → Market value: $2.05T, Share price: $169.00 (+1.82%)
Borsa Istanbul
Turkey's January current account balance was $3.8 billion in deficit and exceeded expectations. The 12-month current account deficit increased from $10 billion to $11.5 billion. Excluding gold and energy, the current account surplus decreased from $52.6 billion to $51.2 billion. According to seasonally adjusted data, there was a slight deterioration in the current account balance and basic economic indicators in January. February housing sales data will be announced today.
Borsa Istanbul BIST 100 index closed the day with an increase of over 1% yesterday. Banking, telecom, aviation and holding stocks supported the increase. However, there was some profit taking in Aselsan, one of the stocks that rose the most since the beginning of the year.
Today, markets will watch the summary of the Central Bank of the Republic of Turkey (TCMB) Monetary Policy Committee meeting and the US PPI and Eurozonewill follow the production data. Low inflation data announced in the US yesterday strengthened the interest rate cut expectations and led to positive closings in the US stock markets. However, this morning, futures indices are seen to decline due to the perception of uncertainty. Despite this, Borsa Istanbul is expected to continue its bullish trend.
BIST 100 index was bullish throughout the day yesterday and closed at 10,580 points. This level is above the critical 10,570 transition zone, indicating that the upward trend may continue. If the index exceeds the 10,620 level, the next target is expected to be the 11,156-11,172 band.
Support levels for BIST 100 stand out as 10,570, 10,357 and 10,276 points. Resistance levels are followed as 10,620, 10,710 and 11,156 points.
Stocks That Gained the Most:
ETILR → increased by 10.00% to 6.49 TL.
KERVN → increased by 10.00% to 2.31 TL.
TERA → increased by 9.98% to 47.18 TL.
TKNVA → increased by 9.97% to 33.08 TL.
DURKN → increased by 9.97% to 16.54 TL.
Stocks That Gained the Most:
ENERY → decreased by -98.37% to 3.84 TL.
GEDZA → decreased by -9.99% to 29.38 TL.
YGY0 → decreased by -9.97% to 5.87 TL.
ADEL → decreased by -6.79% to 35.14 TL.
EUYO → decreased by -6.33% to 10.65 TL.
Companies with the Highest Market Value on Borsa Istanbul:
QNB Finansbank (QNBTR) → 926.28 billion TL market value, 278.00 TL per share price, 0.54% increase.
Türkiye Garanti Bankası (GARAN) → 602.7 billion TL market value, 143.7 TL per share price, 0.14% increase.
Aselsan Elektronik Sanayi (ASELS) → 528.5 billion TL market value, 118.4 TL per share price, 2.16% increase.
Turkish Airlines (THYAO) → 460.23 billion TL market value, 335.25 TL per share price, 0.52% increase.
Koç Holding (KCHOL) → 458.74 billion TL market value, 180.5 TL per share, -0.22% decrease.
Precious Metals and Currency Prices
Gold: 3462 TL
Silver: 39.03 TL
Platinum: 1167 TL
Dollar: 36.59 TL
Euro: 39.88 TL
Hoping to meet again tomorrow with the latest news!
Author: Besim Şen
