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 $ 89,000. According to technical analyzes, $ 88,000 stands out as a strong intermediate support point, while $ 85,500 is followed as a more critical support level. If the price drops below the $ 88,000 level, a pullback to $ 85,500 may be seen as the selling pressure increases. In upward movements, $ 90,500 is the first resistance zone, followed by $ 92,500 as a larger resistance point. If BTC exceeds these levels and maintains its permanence above them, a new upward wave may begin.
Ethereum (ETH) is currently trading at $ 2,480. The $2,500 and $2,650 levels are being monitored as strong resistance points in upward movements. If ETH cannot hold above the $2,400 level, the risk of a pullback to the $2,300 support zone first and then to the $2,200 support zone may increase. However, if the price breaks the $2,500 level and remains above it, an accelerated rise to $2,650 can be expected.
Crypto News
OKX was found guilty of operating as an unlicensed money transmission business and paid a $84M fine.
Bank of America announced that it predicts the Fed will no longer cut interest rates this year.
$1,590,000,000 was liquidated from the cryptocurrency market in the last 24 hours.
SEC Drops Investigation Into DeFi Firm Uniswap Labs
GameStop CEO Ryan Cohen said he received a letter from an investor suggesting he buy Bitcoin with the $5 billion in cash on the company's balance sheet.
Cryptocurrencies
Top Gainers
IP → Up 38.6% to $6.81.
AB → Up 25.9% to $0.01099505.
LCX → Up 24.7% to $0.2383915.
TIA → Up 24.5% to $3.86.
RUNE → Up 22.2% to $1.56.
Top Fallers
BTSE → Down 8.1% to $1.44.
FAI → Down 2.9% to $0.02367967.
OM → down 2.2% to $7.59.
VANA → down 1.4% to $8.87.
QAI → down 1.3% to $77.93.
Total Daily Net ETF Inflows
BTC ETFs: -$937.90M
ETH ETFs: -$50.10M
Data to Watch Today
18:00 | 🇺🇸 US - Energy Information Administration Crude Oil Stocks
Expected: 2,500M
Previous: 4,633M
18:00 | 🇺🇸 US - New Home Sales (January)
Expected: 679K
Previous: 698K
Global Markets
Major US indices closed with declines led by the technology sector, while the Nasdaq lost 1.35% and the S&P 500 lost 0.47% and ended the last four trading days in the red. The Dow Jones gained 0.37% and was positively separated. The Consumer Confidence Index fell to 98.3, well below expectations of 102.7, and recorded its steepest monthly decline since August 2021. The index continued to decline for three months, while consumers' inflation expectations increased from 5.2% to 6%.
Six of the 11 sectors in the S&P 500 lost value, while the essential consumption (1.69%), real estate (1.15%), healthcare (0.86%) and raw materials (0.80%) sectors were positively separated. Telecommunications (1.53%), energy (1.47%) and technology (1.37%) were the sectors that lost the most value. Yields in the bond market continued to decline.
While US President Donald Trump made decisions regarding copper imports, the White House announced that this situation was brought to the agenda due to national security reasons. Active maturity copper contracts were traded at a 4.50% premium due to concerns about tariffs on copper trade. Oil prices fell due to weak consumption expectations, and US crude oil fell by 2.65% to $69.
Housing prices continued to increase. The FHFA Housing Price Index increased by 0.4% monthly and 4.7% annually in December. The S&P CoreLogic Case-Shiller 20 city index increased by 0.52% monthly and 4.48% annually.
The Richmond Fed Manufacturing Index rose from -4 to +6 in February, entering expansion territory after 15 months. The Philadelphia Fed Non-Manufacturing Outlook Survey showed that non-manufacturing activities contracted in February.
While Asian indices are on a strong positive track, European markets are expected to start the day on a positive note.
Most Valuable Companies and Stock Prices
Apple (AAPL) → Market value $3.71 trillion, share price $247.04, down -0.02% daily.
NVIDIA (NVDA) → Market value $3.1 trillion, share price $126.63, down -2.80% daily.
Microsoft (MSFT) → Market value $2.96 trillion, share price $397.90, down -1.51% daily.
Amazon (AMZN) → Market value $2.26 trillion, share price $212.80, up 0.04% daily.
Alphabet (GOOG) → Market value $2.15 trillion, share price $177.37, down -2.11% daily.
Borsa Istanbul
See the February Sectoral Inflation Expectations announced by the Central Bank of the Republic of Turkeye, 12-month ahead inflation expectations changed to 25.3% (0.1% decrease) for market participants, 41.9% (1.9% decrease) for the real sector, and 59.2% (0.4% increase) for households. This situation shows that inflation expectations have declined on the market and real sector side, but households' inflation concerns have increased. The sharp decline, especially on the real sector side, may indicate that producers' cost increase expectations have weakened and that inflationary pressure may ease over time. On the other hand, households' rising inflation expectations indicate that concerns about price increases on the consumer side continue. Borsa Istanbul (BIST100) continued its downward trend. The banking sector was the only sector to stand out positively, while transaction volumes fell and stock-based volatility increased as the maturity date approached. The index closed below critical levels, signaling increased selling pressure. BIST100 is expected to start the day slightly positively, in line with global markets. Yesterday, BIST100 closed at 9452, its second close below the 200-day average. This indicates that the weak trend continues. Falling below 9550 could trigger a more significant decline, and the 9221-8618 range could stand out as the support area. For a short-term recovery, the index needs to rise above 9650-9715.
The Stocks That Gained the Most:
VSNMD → increased by 9.98% to 84.85 TL.
DAGHL → increased by 9.93% to 22.58 TL.
AKYHO → increased by 8.66% to 3.01 TL.
DMSAS → increased by 7.85% to 7.14 TL.
DARDL → increased by 7.83% to 4.82 TL.
Stocks That Declined the Most:
ARZUM → fell by -89.46% to 3.47 TL.
TDGYO → fell by -9.99% to 16.93 TL.
ICUGS → fell by -9.97% to 21.14 TL.
SUNTK → fell by -7.95% to 39.62 TL.
DESPC → fell by -7.01% to 49.84 TL.
Companies with the Highest Market Value on Borsa Istanbul
QNB Finansbank (QNBTR) → 850.9 billion TL market value, 259.00 TL per share price, +1.97% increase.
Türkiye Garanti Bankası (GARAN) → 538.86 billion TL market value, 131.3 TL per share price, +2.34% increase.
Turkish Airlines (THYAO) → 439.19 billion TL market value, 320.50 TL per share price, +0.71% increase.
Aselsan Elektronik Sanayi (ASELS) → 382.13 billion TL market value, 83.70 TL per share price, -0.12% decrease.
Koç Holding (KCHOL) → 380.38 billion TL market value, 150.5 TL per share price, +0.33% increase.
Precious Metals and Currency Prices
- Gold: 3415 TL
- Silver: 37.09 TL
- Platinum: 1136 TL
- Dollar: 36.46 TL
- Euro: 38.27 TL
Hoping to meet again tomorrow with the latest news!
