You can access the "Daily Market with JrKripto" summary below, where we compile daily important developments in cryptocurrency, global and local markets.
Let's analyze the general situation in the markets together and take a look at the most up-to-date evaluations.
Bitcoin (BTC) touched the horizontal support area of $ 79,100 - $ 80,763 and the long-term rising trend line. At the same time, the 200-day moving average is in this area, strengthening the support. If the price holds at this level, the levels of $ 85,600 and $ 90,700 can be tested again. However, if the support is lost, the next critical area will be the $ 74,100 - $ 74,200 band. The price movement at this support level in the coming days will be decisive in terms of the general direction of the market.
Ethereum (ETH) is trading close to the long-term rising trend support and the lower band of the symmetrical triangle. If the $2,121 - $2,140 support zone is maintained, the possibility of an upward recovery increases. However, if this zone is lost, a pullback towards the $1,900 level may be seen. In upward movements, the $2,300 and $2,534 levels are critical resistance points, and if they are overcome, it may gain momentum towards the $2,721 and $3,000 levels. The direction of ETH will depend on the price action at these support levels.
Crypto News
- SEC and Justin Sun are working to resolve their fraud case.
- Bitwise registered its Aptos ETF in Delaware.
- Texas Business and Commerce Committee passed the Strategic Bitcoin Reserve bill, moving to the Senate plenary.
- SEC agreed to drop the Consensys case.
- BitMEX exchange stated that it is looking for a buyer and is preparing for a sale.
- SEC and Coinbase have definitely dropped the case between them.
- SEC: Meme coins are generally not securities under federal law.
Cryptocurrencies
Top Risers
CAR → up 23.5% to $7.24.
CKB → up 10.8% to $0.00681041.
MORPHO → up 7.4% to $2.27.
BIO → up 4.2% to $0.12435946.
PLUME → up 2.6% to $0.14162723.
Top Fallers
KAITO → down 27.4% to $2.00.
KET → down 21.4% to $0.24872803.
SPX → down 20.8% to $0.47942694.
VANA → down 19.7% to $7.51.
WEMIX → down 18.0% to $0.57890206.
Daily Total Net ETF Inflows
BTC ETFs: -$275.90M
ETH ETFs: -$71.20M
Data to Watch Today
Friday, February 28, 2025
16:30 | 🇺🇸 US - Core Personal Consumption Expenditure Index (MoM) (January)
Expectation: 0.3%
Previous: 0.2%
16:30 | 🇺🇸 US - Core Personal Consumption Expenses Price Index (YoY) (January)
Expectation: 2.6%
Previous: 2.8%
Global Markets
While US indices were preparing to start the day with reactionary purchases due to Nvidia's balance sheet exceeding expectations, they experienced sharp sales after Donald Trump announced that customs duties on Canada and Mexico would come into effect on March 4 and that an additional 10% customs duty would be imposed on China. Trump stated in a statement on Wednesday that the tariffs on Canada and Mexico would come into effect on April 2. He also announced that he was canceling the exemption agreement for oil sales provided to Venezuela during the term of former President Joe Biden.
Stock markets ended the day with declines led by technology stocks. Nasdaq lost 2.78%, S&P 500 lost 1.59%, and Dow Jones lost 0.45%. While 7 of the 11 main sectors in the S&P 500 Index declined, technology showed the weakest performance with a loss of 3.79%, infrastructure 2.23%, telecommunications and discretionary consumption 1.80%. Finance, energy 0.48%, and real estate 0.39% were the sectors that positively differentiated themselves. Nvidia shares declined by 8.5%.
The US economy grew by 2.3% on an annualized basis on a quarterly basis in the 4th quarter. While consumption expenditures made the highest contribution to growth (+2.8 points), housing fixed investments and public spending also supported growth. Net exports contributed +0.12 points.
Durable goods orders increased by 3.1% in January (expected: 2.0%) after a 1.8% decrease in December. Orders excluding transportation were flat. Pending home sales decreased by 4.6% monthly in January, falling more than expected (-0.9%).
Weekly unemployment benefit applications increased by 22,000 in the week ending February 22, reaching 242,000 (expected: 221,000). The four-week moving average increased by 8,500 to 224,000. Continuing applications were announced as 1.86 million.
The most important data for the markets today will be the January Personal Consumption Expenditures (PCE) inflation to be announced at 16:30 GMT. PCE, which was 0.3% monthly and 2.6% annually in December, is expected to increase by 0.3% monthly and 2.5% annually in January.
Asian indices are on a negative course, while European indices are expected to start the day with a sell-off.
Most Valuable Companies and Stock Pricess
Apple (AAPL) → Market cap $3.56T, price per share $237.30, -1.27% down daily.
NVIDIA (NVDA) → Market cap $2.93T, price per share $120.15, -8.48% down daily.
Microsoft (MSFT) → Market cap $2.92T, price per share $392.53, -1.80% down daily.
Amazon (AMZN) → Market cap $2.21T, price per share $208.74, -2.62% down daily.
Alphabet (GOOG) → Market cap $2.06T, price per share $170.21, -2.57% down daily.
Borsa Istanbul
Turkey's foreign trade deficit in January was $7.54 billion, slightly below the previous estimate of $7.70 billion by the Ministry of Trade. The total 12-month foreign trade deficit rose to $83.6 billion. Exports increased by 5.8% in January to $21.2 billion, while imports increased by 9.6% to $28.7 billion.
The Economic Confidence Index for February fell by 0.5 points to 99.2. When looking at sub-items, there were increases in retail trade, consumer confidence and real sector confidence indices, while decreases were seen in the service and construction sectors.
Today, Turkey's last quarter growth rate and January unemployment data will be announced. The economy grew by 2.1% on an annual basis in the third quarter. Growth expectations for the last quarter are 3.0% and for the entire year are 3.1%. In addition, the Treasury will share its borrowing strategy for the next three months.
Borsa Istanbul (BIST-100) closed positively for the second time in a row yesterday with a 1.8% increase. Telecom, holding and aviation sectors were the biggest gainers. It is thought that positive expectations regarding the CPI (Consumer Price Index) data were also effective in this increase. In particular, it is predicted that the regulation made regarding patient examination participation fees over the weekend may contribute to February inflation being slightly below expectations. A slightly bullish trend is expected in BIST today.
BIST-100 index was bullish throughout yesterday's transactions and closed at 9741. After a three-day decline, the index rose above the 200-day average again. The 21-day average is 9771, while the 50-day average is 9805. It is thought that a permanent movement above these levels could provide a more significant recovery in the market. While closings above the 9665-9715 band may be a sign of limited optimism, it is evaluated that the index may weaken again if it falls below these levels.
Stocks That Gained the Most:
DAGHL → increased by 9.99% to 27.30 TL.
BULGS → increased by 9.97% to 21.06 TL.
GMTAS → increased by 9.94% to 11.61 TL.
SEGY0 → increased by 9.89% to 5.00 TL.
KSTUR → increased by 9.89% to 3,835.00 TL.
Stocks That Decreasing the Most:
ESCOM → decreased by -93.08% to 3.40 TL.
TDGYO → decreased by -9.97% to 13.72 TL.
ESEN → decreased by -9.96% to 35.42 TL.
NATEN → decreased by -9.95% to 66.05 TL.
ICUGS → decreased by -8.62% to 17.39 TL.
Companies with the Highest Market Value on Borsa Istanbul
QNB Finansbank (QNBTR) → 880.21 billion TL market value, 274.00 TL per share price, +4.28% increase.
Türkiye Garanti Bankası (GARAN) → 534.24 billion TL market value, 126.7 TL per share price, -0.39% decrease.
Turkish Airlines (THYAO) → 435.74 billion TL market value, 306.25 TL per share price, -3.01% decrease.
Aselsan Elektronik Sanayi (ASELS) → 410.4 billion TL market value, 93.50 TL per share price, +3.89% increase.
Koç Holding (KCHOL) → 387.49 billion TL market value, 153.1 TL per share price, +0.20% increase.
Precious Metals and Currency Prices
Gold: 3459 TL
Silver: 36.63 TL
Platinum: 1116 TL
Dollar: 36.52 TL
Euro: 37.97 TL
Hoping to meet again tomorrow with the latest news!
Author: Besim Şen
