You can access the summary of the "Daily Market with JrKripto" below, where we compile daily important developments in cryptocurrency, global and local markets.
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 $83,900. 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 $1,970. The $1,900 level is a critical support point, and 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 could 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
SEC accepts application for 21Shares Spot Polkadot ETF.
SEC confirms that Bitcoin and crypto mining do not violate securities laws.
NYSE proposes to allow staking for Bitwise Ethereum ETF.
Justin Sun: TRX ETF is coming.
Donald Trump calls on Congress to pass stablecoin law.
Pakistan to legalize cryptocurrency.
Cryptocurrencies
Top Gainers
ORCA → Up 169.3% to $4.26. ZRO → Up 23.2% to $3.08. MEOW → up 19.2% to $0.00277231. AUCTION → up 13.5% to $46.66. IBERA → up 13.4% to $6.15.
Top Fallers
PI → down 23.4% to $0.89995012. PENGU → down 9.1% to $0.00621443. PLUME → down 8.3% to $0.20370333. ZEC → down 8.3% to $31.35. AI16Z → down 8.3% to $0.17253949.
Total Daily Net ETF Inflows
BTC ETFs: $165.70 Million
ETH ETFs: -$12.50 Million
Global Markets
Although US stock indices started the first trading day after the Fed meeting with purchases, they finished the day with losses. The S&P 500 lost 0.22%, the Dow Jones lost 0.03%, and the Nasdaq lost 0.33%. Four of the 11 main sectors in the S&P 500 Index closed the day with gains. The best performers were the energy and infrastructure sectors (up 0.41%), the finance sector (up 0.19%), and the healthcare sector (up 0.11%). The sectors that lost the most value were raw materials (0.62%), essential consumption (0.52%), and technology (0.49%). In the US, the Philadelphia Fed Manufacturing Index was announced as 12.5, above the market expectation of 8.8. While Asian stock markets remain under selling pressure, European stock markets are expected to start the day flat and slightly positive.
The Bank of England (BoE) kept its policy rate unchanged at 4.50% as expected. In the decision, 8 members voted to keep the rate unchanged, while 1 member requested a 25 basis point rate cut. The BoE predicts that inflation will rise to 3.75% in the third quarter of 2025. While inflation is expected to decline starting in the fourth quarter, it was emphasized that caution will be exercised regarding inflationary pressures. The bank stated that monetary policy should remain tight and that it will reassess the situation at each meeting.
The Swiss National Bank, on the other hand, lowered interest rates by 25 basis points from 0.50% to 0.25%. The Swedish Central Bank, on the other hand, left its policy rate unchanged at 2.25%.
Weekly unemployment benefit applications in the US were slightly below expectations. In the week ending March 15, applications increased by 2,000 to 223,000 (expected: 224,000). The four-week average increased by 750 to 227,000. Continuing unemployment applications increased by 33,000 to 1.89 million in the week ending March 8. The insured unemployment rate remained constant at 1.2%.
Most Valuable Companies and Stock Prices
Apple (AAPL) → Market value: $3.22T, Share price: $214.10 (-0.53%)NVIDIA (NVDA) → Market value: $2.89T, Share price: $118.53 (+0.86%)Microsoft (MSFT) → Market value: $2.88T, Share price: $386.84 (-0.25%)Amazon (AMZN) → Market value: $2.07T, Share price: $194.95 (-0.30%)Alphabet (GOOG) → Market value: $2T, Share price: $165.05 (-0.74%)
Borsa Istanbul
Risk appetite in global markets is low this morning. In Turkey, shortly before the closing of Borsa Istanbul yesterday, the Central Bank (TCMB) announced that it had raised the upper band of the interest rate corridor from 44% to 46% and suspended the 1-week repo auctions of 42.5%, which are monitored as the policy rate. This step means that interest rates have actually been increased. The expectation that "TCMB will encourage growth by reducing interest rates", which has been supporting the markets recently, has been shelved for now. Since it is uncertain how long this process will last, it is possible to expect volatility and selling pressure to continue for a while longer in Borsa Istanbul. At the Monetary Policy Committee (PPK) meeting on April 17, interestIt does not seem reasonable to wait for a reduction at the moment, and non-economic developments may also have a significant impact on the market.
While the 9400-9600 point band is technically monitored as the critical support level for the BIST 100 index, the 10200-10300 range above stands out as the important resistance zone. Although the 12-month BIST 100 index target is still above 14,000 points, delaying the interest rate reduction process may cause a slowdown in growth and consumption and may cause downward revisions in these targets.
The CBRT held an interim meeting yesterday to evaluate developments in financial markets. At this meeting, the overnight lending rate was increased from 44% to 46%, while the policy rate, the 1-week repo rate, was left unchanged at 42.5% and the overnight borrowing rate at 41%. The CBRT stated that monetary policy would be tightened further if a permanent deterioration in inflation was observed. In addition, it was announced that Turkish lira settled forward foreign exchange sales transactions will be initiated in order to ensure the stable operation of the foreign exchange market and to prevent exchange rate fluctuations.
The Turkish Statistical Institute (TÜİK) announced the 2024 annual labor force statistics. The unemployment rate decreased by 0.7 points compared to the previous year, falling to 8.7%. The number of employed people increased by 988 thousand on an annual basis, reaching 32.6 million. While the labor force participation rate increased from 53.3% to 54.2%, the idle labor force rate, also known as the broadly defined unemployment rate, increased by 3.9 points to 26.7%.
The Stocks with the Most Increase:
YBTAS → increased by 10.00% to 154,385.00 TL.
QNBFK → increased by 9.99% to 44.72 TL.
TKFEN → increased by 7.72% to 127.00 TL.
RUBNS → increased by 7.56% to 23.90 TL.
SMRVA → increased by 6.37% to 31.38 TL.
The Stocks That Decreasing the Most:
MSGYO → decreased by -72.74% to 4.25 TL.
BRKO → decreased by -10.00% to 9.99 TL.
DERHL → decreased by -10.00% to 38.16 TL.
COSMO → decreased by -10.00% to 109.80 TL.
MARKA → decreased by -10.00% to 60.75 TL.
The Companies with the Highest Market Value on Borsa Istanbul:
- QNB Finansbank (QNBTR) → 1.39 trillion TL market value, 424.00 TL per share, 2.29% increase.
- Aselsan Elektronik Sanayi (ASELS) → 535.8 billion TL market value, 112.80 TL per share price, 4.00% decrease.
- Turkey Garanti Bankası (GARAN) → 492.24 billion TL market value, 109.90 TL per share price, 6.23% decrease.
- Turkish Airlines (THYAO) → 425.04 billion TL market value, 295.00 TL per share price, 4.22% decrease.
- Koç Holding (KCHOL) → 421.72 billion TL market value, 163.00 TL per share price, 1.98% decrease.
Precious Metals and Currency Prices
Gold: 3696 TL
Silver: 40.57 TL
Platinum: 1203 TL
Dollar: 37.98 TL
Euro: 41.17 TL
Hoping to meet again tomorrow with the latest news!
