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 $92,600. According to technical analysis, $90,700 stands out as a strong support area. If the price drops below this level, the decline may accelerate and a pullback to $89,000 and below may occur. In upward movements, $96,000 is followed as a resistance point. If BTC exceeds this level and maintains its permanence above it, an upward movement towards $98,500 and above may be seen.
Ethereum (ETH) is currently trading at $2,350. While the $2,260 level stands out as a support zone, if this level is broken, the risk of a pullback to $2,200 and below may increase. In upward movements, $2,550 stands out as a resistance point. If ETH breaks this level, it may gain strong momentum towards $2,650.
Crypto News
- Binance will remove non-MiCA compatible stablecoin trading pairs from the list for European users today. The assets to be affected are; $USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC and PAXG.
- Crypto Czar David Sacks said at the White House crypto summit that "more is coming".
- With the executive order issued by Trump, the Presidential Working Group was assigned for the Strategic Crypto Reserve, which will consist of XRP, SOL and ADA.
- Donald Trump announced that Bitcoin and Ether will also be included in the reserve.
Cryptocurrencies
Top Gainers
ADA → up 47.4% to $0.97525725.
FARTCOIN → up 38.4% to $0.3624395.
SNEK → up 37.9% to $0.00461275.
XCN → up 27.7% to $0.01959982.
KET → up 23.3% to $0.37730994.
Top Fallers
TRIBE → down 14.0% to $0.44380794.
PNUT → down 12.3% to $0.21913815.
IBERA → down 11.9% to $7.03.
KAITO → down 10.9% to $2.02.
BERA → fell 10.4% to $7.74.
Data to Follow Today17:45 | 🇺🇸 US - Manufacturing Purchasing Managers Index (PMI) (February)
Reported: 51.6
Expected: 51.2
18:00 | 🇺🇸 US - ISM Manufacturing Purchasing Managers Index (PMI) (February)
Reported: 50.6
Expected: 50.9
Global Markets
US stock markets rose on the last trading day of the week with strong reaction purchases following the selling pressure created by weakness in consumer confidence and geopolitical developments. S&P 500 gained 1.59%, Nasdaq gained 1.63%, Dow Jones gained 1.39%. In the session where all sectors performed positively, the strongest gains were seen in the finance (2.07%), discretionary consumption (1.80%) and technology (1.71%) sectors.
Personal consumption expenditure inflation (PCE) for January increased by 0.3% monthly, in line with expectations. On an annual basis, it decreased from 2.6% to 2.5%, reaching its lowest level since June. Personal income increased by 0.9%, above expectations (0.4%), while spending decreased by 0.2%.
Markets will focus on economic data flow this week. While ISM PMI data is being followed today, the most important agenda of the week will be the Nonfarm Payrolls data to be released on Friday.
In the US, the volatility indicator VIX index decreased from 21.1 to 19.6 on Friday, indicating that the risk perception in the markets has slightly decreased. European stock markets finished the week flat, rising by 3.3% on a monthly basis. Banking stocks in particular showed a strong performance.
Most Valuable Companies and Stock Prices
Apple (AAPL) → Market value $3.63T, price per share $241.84, +1.91% daily increase.
NVIDIA (NVDA) → Market value $3.05T, price per share $124.92, +3.97% daily increase.
Microsoft (MSFT) → Market value $2.95T, price per share $396.99, +1.14% daily increase.
Amazon (AMZN) → Market value $2.25T, price per share $212.28, +1.70% daily increase.
Alphabet (GOOG) → Market value $2.09T, price per share $172.22, +1.18% daily increase.
Borsa Istanbul
Turkey's economy recorded 3% annual growth in the last quarter of 2024. This rate was in line with market expectations, with a strong increase of 1.7% on a quarterly basis. The main source of growth throughout the year was domestic demand. The growth rate, which was 5.1% in 2023, decreased to 3.2% in 2024.
The unemployment rate decreased to 8.4% in January, while the broadly defined unemployment rate increased to 28.1%. The Services Producer Price Index (PPI) increased by 40.44% on an annual basis. The Central Bank of the Republic of Turkey (TCMB) reduced the growth limit for foreign currency loans to 0.5%. According to the data of the Istanbul Chamber of Commerce (ITO), retail prices increased by 45.35% and wholesale prices by 2.33% annually in February. According to the data announced by TÜRK-İŞ, the hunger threshold increased to 23,324 TL.
The Treasury announced that it plans to borrow 713.9 billion TL domestically in return for 566.6 billion TL domestic debt service in the March-May period. In March, 124.7 billion TL domestic debt payment was made and 201.2 million TLIt is anticipated that domestic borrowing will be carried out in the amount of TL.
Today, domestic inflation and Manufacturing Purchasing Managers Index (PMI) data for February will be announced. Consumer inflation increased by 5.03% in January and was 42.1% annually. In February, inflation is estimated to be 3% monthly and 40% annually. PMI had signaled a contraction by falling to 48.0 in January. A slight recovery is expected in February.
Borsa Istanbul (BIST-100) closed Friday with a loss of 0.8% and February with a loss of 3.5%. Banking, gold mining and technology sectors were positively separated. The focus of the new week will be the inflation data to be announced at 10:00. A monthly inflation below 3% may have a positive impact on the markets. January results of the banking sector will also be followed.
The BIST-100 index closed at 9659 points last week, while the 9594-9560 band is being monitored as a short-term support level. Staying below the 21- and 50-day averages (9761 and 9798) indicates a weak course. If the index rises above these levels, it can be expected to head towards the 9895-10,000 band. The "uptick" rule introduced for short selling transactions will continue today. Developments regarding the Russia-Ukraine ceasefire talks and US customs tariffs will be monitored abroad. BIST is expected to start the week flat.
Stocks with the Most Increase:
DOAS → increased by 10.00% to 190.30 TL.
SEGY0 → increased by 10.00% to 5.50 TL.
GMTAS → increased by 9.99% to 12.77 TL.
KSTUR → increased by 9.97% to 4,220.00 TL.
AKBNK → increased by 9.96% to 74.00 TL.
The Stocks That Decreasing the Most:
ESEN → decreased by -9.99% to 31.88 TL.
NATEN → decreased by -9.99% to 59.45 TL.
BALSU → decreased by -8.80% to 17.61 TL.
GRSEL → decreased by -8.57% to 208.00 TL.
SUNTK → decreased by -7.03% to 39.66 TL.
The Companies with the Highest Market Value on Borsa Istanbul
QNB Finansbank (QNBTR) → 917.9 billion TL market value, 290.00 TL per share, +5.84% increase.
Garanti Bank of Turkey (GARAN) → 540.54 billion TL market value, 140.8 TL per share price, +9.40% increase.
Aselsan Elektronik Sanayi (ASELS) → 426.13 billion TL market value, 97.85 TL per share price, +4.71% increase.
Turkish Airlines (THYAO) → 425.38 billion TL market value, 319.00 TL per share price, +3.49% increase.
Koç Holding (KCHOL) → 386.47 billion TL market value, 155.4 TL per share price, +1.97% increase.
Precious Metals and Currency Prices
Gold: 3463 TL
Silver: 36.51 TL
Platinum: 1115 TL
Dollar: 36.52 TL
Euro: 38.08 TL
Hoping to meet again tomorrow with the latest news!
Author: Besim Şen
