You can find today’s “Daily Market with JrKripto,” where we compile the most important developments in the global and local markets, below.Let’s analyze the overall market conditions together and take a look at the latest evaluations.
Bitcoin (BTC) is currently trading at $85,200. The $79,100 – $80,763 zone stands out as a strong support area, while BTC has pulled back slightly after slipping below the $85,600 level. If the price fails to hold above $85,600, the decline may continue toward $83,763. However, if the $85,600 level is regained, the uptrend could continue toward $90,700.
Ethereum (ETH) is trading at $1,910. ETH is currently below the $2,000 level, with $1,900 being followed as a critical support zone. If this area is lost, the price could retreat as far as $1,800. In upward moves, the $2,000 level may be tested again. Closures above this level could create momentum toward $2,250, $2,534, and $2,721.
Crypto News
- The U.S. Securities and Exchange Commission (SEC) has officially announced the dismissal of lawsuits filed against Kraken, Consensys, and Cumberland, and published the relevant notices.
- BlackRock’s Global Allocation Fund disclosed $47.4 million in Bitcoin ETF holdings.
- Bpifrance, the French state bank, launched a €25 million fund for new French crypto tokens.
- Circle and Ice will explore the integration of USDC and USYC into financial markets.
- Senator Moreno called for the passage of a bill to purchase 1 million #Bitcoin by August.
Crypto
Top Gaining Cryptocurrencies:
- WAL → +18.1%, reached $0.4635
- FAI → +13.1%, reached $0.02664
- SAFE → +11.8%, reached $0.5773
- AGENTFUN → +9.2%, reached $2.23
- GRASS → +7.9%, reached $1.64
Top Losing Cryptocurrencies:
- MEOW → -17.9%, dropped to $0.00253
- DEEP → -17.2%, dropped to $0.07453
- KET → -16.2%, dropped to $0.2174
- NTGL → -15.8%, dropped to $0.00090
- FARTCOIN → -15.6%, dropped to $0.4932
Other Data
Dominance:
- Bitcoin: 62.07% ▲ 0.53%
- Ethereum: 8.44% ▼ 2.23%
Daily Net ETF Inflows:
- BTC ETFs: $89.00 million
- ETH ETFs: -$4.20 million
Key Data to Watch Today
15:30 – U.S. | Core Personal Consumption Expenditures (PCE) Price Index (MoM, February)
- Forecast: 0.3%
- Previous: 0.3%
15:30 – U.S. | Core PCE Price Index (YoY, February)
- Forecast: 2.6%
- Previous: 2.6%
Global Markets
Global stock markets came under selling pressure after U.S. President Trump announced a 25% tariff on all cars not manufactured in the U.S. U.S. markets, fluctuating ahead of key economic data, ended the day with losses. The S&P 500fell 0.33%, the Nasdaq dropped 0.53%, and the Dow Jones lost 0.37%.
Among the 11 sectors in the S&P 500, 8 closed in the green. Consumer staples rose 1.00%, while healthcare and discretionary sectors also posted slight gains. Losers included energy (-0.85%), telecommunications (-0.84%), and technology (-0.75%)—the weakest performers.
The U.S. economy grew by 2.4% on an annualized basis in Q4 2024, slightly above the previously announced 2.3%forecast. The biggest contribution came from consumer spending, while housing investments and public spending also supported growth. However, non-residential fixed investments declined. Net exports added +0.26 percentage points to GDP.
Labor market data was also monitored. Weekly jobless claims came in at 224,000, slightly below expectations of 225,000. The four-week average dropped by 4,750 to 224,000. Continuing jobless claims fell by 25,000 to 1.86 millionas of March 15. The insured unemployment rate remained steady at 1.2%.
The U.S. trade deficit fell by $7.7 billion in February to $147.9 billion. Goods exports rose by 4.1%, while importsdecreased by 0.2%. In housing, pending home sales increased 2.0%, exceeding expectations (1.0%) and significantly improving from the previous month (-4.6%).
The Central Bank of Mexico cut its policy rate by 50 basis points to 9.0%, in line with expectations.
Today, markets will closely monitor important data, including the Core PCE index, one of the Fed’s key inflation indicators. The headline figure is expected to rise 0.3% MoM and 2.5% YoY. Also on investors’ radar are the University of Michigan Consumer Sentiment Index, ECB inflation expectations, and UK GDP data.
Asian markets started the day negative, and European markets are also expected to open lower.
Top Companies by Market Cap and Share Price
- Apple (AAPL) → $3.36T market cap, $223.85/share, ▲ 1.05%
- Microsoft (MSFT) → $2.90T market cap, $390.58/share, ▲ 0.16%
- NVIDIA (NVDA) → $2.72T market cap, $111.43/share, ▼ 2.05%
- Amazon (AMZN) → $2.13T market cap, $201.36/share, ▲ 0.11%
- Alphabet (GOOG) → $1.99T market cap, $164.08/share, ▼ 1.83%
Borsa Istanbul
Volatility and weak momentum continue on Borsa Istanbul. The Central Bank of Turkey’s reserves declined by $8 billion gross and $12 billion net. Additionally, a $440 million outflow from foreign investors occurred last week, and this trend is believed to be ongoing. Reducing short-term risks and focusing on strong companies in the mid-to-long term may be more prudent.
Today, confidence indices in Turkey and Europe, and the Core PCE data in the U.S., which the Fed closely monitors, will be released. Inflation is expected to rise from 2.6% to 2.7%, potentially delaying rate cut expectations. Turkey’s 5-year CDS rose to 319 basis points, with concerns over U.S. debt repayment capacity contributing to the increase.
In February, the foreign trade deficit was $7.8 billion. Exports fell 1.6% YoY to $20.8 billion, while imports rose 2.4%to $28.5 billion. The unemployment rate fell to 8.2%, while broad unemployment rose to 28.4%. The 2-year bond yield rose to 45.5%, and the 10-year yield to 33.5%.
Although BIST-100 opened higher yesterday, it closed lower due to cautious foreign sentiment toward banking stocks and the CBRT’s interest rate policies. Garanti Bank, defense, and gold mining stocks outperformed.
After the holiday, the market will focus on banking sector profit data on Wednesday and March inflation data on Thursday. March inflation is expected to be around 3%, and a pre-holiday sell-off may occur.
Technically, BIST-100 tested 9,831 yesterday and closed at 9,613. A break above the 9,738–9,895 resistance range could support a move toward 10,197. The 9,594–9,473 zone serves as support, and if breached, the index may decline toward 9,221–8,870.
In summary, uncertainty and volatility persist in the markets, so caution is advised. Focusing on solid companies may be beneficial. Upcoming economic data will be key in determining market direction.
Top Gaining Stocks:
- DAGHL → ▲ 9.95% to 55.25 TL
- SKTAS → ▲ 9.93% to 4.54 TL
- CEMAS → ▲ 9.70% to 3.28 TL
- SANEL → ▲ 9.00% to 23.98 TL
- POLHO → ▲ 8.19% to 14.26 TL
Top Losing Stocks:
- ISMEN → ▼ 13.15% to 41.20 TL
- PAPIL → ▼ 10.00% to 30.24 TL
- OSMEN → ▼ 10.00% to 9.18 TL
- DYOBY → ▼ 9.98% to 20.74 TL
- KUYAS → ▼ 9.96% to 37.42 TL
Top Market Cap Companies on Borsa Istanbul:
- QNB Finansbank (QNBTR) → 1.29 trillion TL market cap, 372.00 TL/share, ▼ 3.38%
- Aselsan (ASELS) → 533.52 billion TL market cap, 116.50 TL/share, ▼ 0.43%
- Garanti Bank (GARAN) → 517.02 billion TL market cap, 116.60 TL/share, ▼ 5.28%
- Turkish Airlines (THYAO) → 425.73 billion TL market cap, 305.50 TL/share, ▼ 0.97%
- Koç Holding (KCHOL) → 409.04 billion TL market cap, 160.10 TL/share, ▼ 0.74%
Precious Metals and Exchange Rates
- Gold: 3,751 TL
- Silver: 42.18 TL
- Platinum: 1,210 TL
- Dollar: 38.01 TL
- Euro: 41.01 TL
See you again tomorrow with the latest updates!
