You can access the "Daily Market with JR Crypto" summary, where we compile daily important developments in cryptocurrency, global and local markets, below.
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. While the $ 88,500 - $ 89,000 region stands out as short-term support, there is a risk of a pullback below this level to $ 87,000 and $ 85,500. In upward movements, the $ 90,700 and $ 92,500 levels will be followed as the first resistance points. If BTC exceeds these levels, it may gain upward momentum towards the $ 96,000 level.
Ethereum (ETH) is currently trading at $ 2,186. The $2,150 - $2,160 region stands out as the first support point, and if this region is lost, a pullback to the $2,100 and $2,000 levels can be seen. In upward movements, the $2,260 and $2,350 levels will be followed as resistance points. If ETH can maintain its stability above $2,350, acceleration towards the $2,500 level can be expected.
Crypto News
- Donald Trump signed a decree to create a Strategic Bitcoin Reserve.
- Canary SUI ETF officially registered in Delaware.
- US President Trump will speak at the Crypto Summit at the White House today at 23:00 Turkey time.
- The White House will clarify the financing mechanism of the strategic crypto reserve and address challenges related to Congressional approval.
- 21Shares updated its Polkadot spot ETF application.
- Fed member Waller: I think there may be interest rate cuts after the Fed meeting in March.
- The Texas Strategic Bitcoin Reserve bill also passed the Senate General Assembly by a vote of 25-5.
- World Liberty Financial and Sui announced a strategic partnership.
- New Hampshire's Bitcoin reserve bill (HB302) was approved by a House committee by a vote of 16-1.
Cryptocurrencies
Top Gainers
BTSE → Up 14.9% to $1.32.
SUI → Up 5.8% to $2.84.
NFT → Up 5.3% to $0.63145287.
XDC → Up 3.6% to $0.07747272.
BSV → Up 2.9% to $38.00.
Top Fallers
RED → Down 27.7% to $0.67418505.
CHEX → down 22.4% to $0.24761346.
FARTCOIN → down 19.8% to $0.28248892.
KET → down 16.9% to $0.27889093.
MEOW → down 15.0% to $0.00343063.
Total Daily Net ETF Inflows
BTC ETFs: -$134.30M
ETH ETFs: -$10.00M
Data to Watch Today
16:30 | US | Average Hourly Earnings (MoM) (Feb) → Expected: 0.3% | Actual: 0.5%
16:30 | US | Nonfarm Payrolls (Feb) → Expected: 159K | Actual: 143K
16:30 | US | Unemployment Rate (Feb) → Expected: 4.0% | Actual: 4.0%
19:00 | US | Fed Monetary Policy Report
20:30 | US | Fed Chair Powell’s Speech
21:30 | US | US President Trump’s Speech
Global Markets
US stock indices fell due to uncertainties regarding customs duties. President Donald Trump postponed the 25% customs duties on goods from Canada and Mexico until April 2. However, this decision did not reassure the markets and the S&P 500 lost 1.78%, the Dow Jones lost 0.99%, and the Nasdaq lost 2.61%. In terms of sectors, all sectors except energy experienced declines, with the biggest losses being discretionary consumption (2.93%), real estate (2.78%) and technology (2.65%).
In the US, unemployment benefit applications fell below expectations at 221 thousand. The non-farm payrolls report, the most important economic data of the week, will be released today and employment is expected to rise from 143 thousand to 159 thousand, while the unemployment rate remains at 4.0%.
The European Central Bank (ECB) lowered interest rates by 25 basis points, lowered the deposit rate from 2.75% to 2.50% and signaled an easing in monetary policy.
The foreign trade deficit in the US increased significantly in January. The deficit, which was $98.1 billion in December, increased to $131.4 billion in January. While exports increased by 1.2%, the 10% increase in imports caused the deficit gap to widen.
While Asian stock markets are on a negative course, European markets are also expected to start the day with a decline.
Most Valuable Companies and Stock Prices
Apple (AAPL) → Market value: $3.54T, Share price: $235.33 (-0.17%)
Microsoft (MSFT) → Market value: $2.95T, Share price: $396.89 (-1.03%)
NVIDIA (NVDA) → Market value: $2.7T, Share price: $110.57 (-5.74%)
Amazon (AMZN) → Market value: $2.13T, Share price: $200.70 (-3.68%)
Alphabet (GOOG) → Market value: $2.11T, Share price: $174.21 (-0.45%)
Borsa Istanbul
The Central Bank of the Republic of Turkey (TCMB) lowered its policy rate from 45% to 42.5%, in line with expectations. No significant changes were made to the text of the decision, and it was emphasized that tight monetary policy would continue until a permanent decrease in inflation was achieved. It was also stated that necessary measures would be taken in the event of a significant deterioration in inflation.Today, the TCMB Market Participants Survey and the Treasury cash balance for February will be announced.
Following the interest rate decision, purchases accelerated at Borsa Istanbul (BIST) and the index reached its highest level in the last seven months. BIST-100 also approached 290 in dollar terms, reaching its highest value since December 10. Strong purchases were made especially in sectors such as iron and steel, metal, and glass. This movement in the industrial sector reflects the expectation of recovery in the domestic market after the interest rate cut and optimism for European economies. Borsa Istanbul is expected to continue its rise today.
The BIST-100 index retreated slightly after testing 10,284 points yesterday, but continued its rise with strong purchases at the end of the day and closed at 10,459. Remaining above the 10,197-10,276 levels supports a positive technical outlook. After this level is exceeded, the index can be expected to continue its rise towards the range of 10,569-10,598 and 11,156-11,172. For BIST-100, the levels of 10,276, 10,197, 10,121 and 9,963 will be support points, while the levels of 10,569 and 11,156 can be monitored as resistance points.
Stocks That Gained the Most:
INGRM → increased by 9.98% to 440.75 TL.
ALKLC → increased by 9.97% to 34.40 TL.
IZINV → increased by 9.97% to 39.72 TL.
DAGHL → increased by 9.96% to 43.92 TL.
MMCAS → increased by 9.92% to 26.60 TL.
Stocks That Declined the Most:
PEHOL → fell by -9.95% to 13.94 TL.
FENER → fell by -9.63% to 53.05 TL.
BULGS → fell by -8.63% to 19.37 TL.
MEGAP → fell by -7.46% to 3.10 TL.
OBAM → fell by -5.61% to 54.70 TL.
Companies with the Highest Market Value on Borsa Istanbul
QNB Finansbank (QNBTR) → 919.58 billion TL market value, 283.00 TL per share price, +3.10% increase.
Türkiye Garanti Bankası (GARAN) → 582.96 billion TL market value, 140.3 TL per share price, +1.08% increase.
Aselsan Elektronik Sanayi (ASELS) → 511.63 billion TL market value, 106.6 TL per share price, -4.99% decrease.
Turkish Airlines (THYAO) → 463.68 billion TL market value, 336.75 TL per share price, +0.22% increase.
Koç Holding (KCHOL) → 429.33 billion TL market value, 170.4 TL per share price, +0.65% increase.
Precious Metals and Currency Prices
Gold: 3411 TL
Silver: 38.22 TL
Platinum: 1139 TL
Dollar: 36.48 TL
Euro: 39.48 TL
Hoping to meet again tomorrow with the latest news!
Author: Besim Şen
