You can access the "Daily Market with JrKripto" summary below, where we have compiled important daily 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 assessments.
Bitcoin (BTC) is currently trading at $87,400. While the $79,100 - $80,763 region stands out as a strong support area, BTC has broken through the $85,600 resistance by holding on to this level and is continuing to rise. If the upward movement continues, the $90,700 level will be a critical resistance point. However, if the price retreats, the $85,600 level will be followed as the first support point.
Ethereum (ETH) is trading at $2,090. While the $1,900 level was maintained as a strong support point, ETH received an upward reaction from this level. With the breaking of the $2,000 resistance, the rise gained momentum and the next target will be the $2,250 level. If this level is exceeded, an acceleration towards the $2,534 and $2,721 levels may be seen. On the other hand, downward movements will be followed by the support of $ 2,000, while closures below this level may bring the support of $1,900 back up.
Crypto News
DWF Labs has launched a $250 million fund to support blockchain projects.
The Capital Market Board announced new measures.
Trump: "I love $TRUMP.”
Senator Cynthia Lummis said that the US government should sell its gold and buy Bitcoin.
Cryptocurrencies
Those Who Have Risen The Most:
- KET →increased by 42.2% to $ 0.23387824.
- ANKR →increased by 24.9% to $0.02244941.
- SPX →increased by 23.6% to $ 0.63053516.
- CHEEMS → increased by 18.6% to $0.00000178.
- S → increased by 15.5% to $ 0.60818454.
The Ones Who Fell The Most:
- W →fell 17.1% to $0.10500875.
- MEOW → fell by 11.0% to $0.00260545.
- KAVA →fell by 6.4% to $0.50468653.
- The PI → fell by 6.2% to $0.94838718.
- VALVE → fell 5.8% to $7.39.
Total Net ETF Inflows Per Day
BTC ETFs: $83.10 Million
ETH ETFs: -18.60 Million$
Data to Follow Today
16:45 - US / Manufacturing Purchasing Managers' Index (PMI) (March)
Expectation: 51.9
Previous: 52,7
16:45 - US / Service Purchasing Managers' Index (PMI) (March)
Expectation: 51.2
Previous: 51.0
Global Markets
US stock markets closed slightly higher after following a volatile course on the last trading day of the week. Thus, the major indexes have ended their losses that have lasted for the last four weeks. The S&P 500 and Dow Jones gained 0.08%, and the Nasdaq gained 0.52%. Only 3 of the 11 main sectors in the S&P 500 ended the day with an increase: Telecommunications gained 1.00%, discretionary consumption gained 0.63% and technology gained 0.49%. The worst performing sectors were real estate and raw materials, which lost 1.00%, infrastructure and energy, which ended the day with a loss of 0.65%.
There are important developments in terms of markets this week. There is talk that the White House is focusing on reducing some customs duties that are expected to take effect on April 2. It is stated that taxes, especially for the automotive and chip sectors, have been put on the back burner, and steps will be taken towards mutual trade taxes. This news is being priced positively in index futures. The flow of economic data will be quite intense. Monday Tuesday Thursday Friday S&P Global PMI data, Conference Board Consumer Confidence Index, Durable Goods Orders on Wednesday, Thursday U.S. growth data, followed by the Fed's inflation indicator PCE data will be announced on Friday. In addition, the statements of Fed officials will be closely followed throughout the week.
Asian stock markets started the week positively. European stock markets are expected to open similarly higher. Also today, leading manufacturing and service sector PMI data for March will be announced in the US, Eurozone and UK. In the Eurozone, the manufacturing PMI was at its highest level in the last 2 years with 47.6 in February. It is expected to increase to 48.2 in March. The manufacturing PMI in the US has been above the critical level for the last two months. February June saw its highest level since June 2022 with 52.7. In March, it is expected to be announced as 51.8. This week, markets are generally expected to focus on global economic data and Fed statements.
The Most Valuable Companies and Their Stock Prices
Apple (AAPL) → market capitalization of $3.28T, price per share is $218.27, an increase of 1.95%.
Microsoft (MSFT) → market capitalization of $2.91T, price per share is $391.26, an increase of 1.14%.
NVIDIA (NVDA) → market capitalization of $2.87T, price per share is $117.70, a decrease of 0.70%.
Amazon (AMZN) → market capitalization of $2.08T, price per share is $196.21, an increase of 0.65%.
Alphabet (GOOG) → market capitalization of $2.01T, price per share is $166.25, an increase of 0.73%.
Borsa Istanbul
Global stock markets are starting the new week with a slight recovery trend. In the country, political-oriented developments and decisions from the economic management are being followed. Some of the featured steps are; The CBRT announced that it will issue liquidity securities with futures up to 91 days from today as part of liquidity management, the CMB banned short-selling transactions until April 25 and decided to stretch the equity ratio in credit transactions by facilitating share repurchases of publicly traded companies, while Borsa Istanbul reduced the order/transaction ratio from 5:1 to 3:1 and increased the threshold value overage fee from 0.25 TL to 0.50 TL in order to limit high-frequency transactions. These measures may help to control the recent increased volatility, but it may take time to restore confidence in TL assets. In addition, it is estimated that the CBRT spent $ 20-25 billion from its reserves last week to control exchange rate volatility. A clearer picture will emerge after the CBRT Analytical Balance Sheet is announced today at 14:00. High reserve utilization can increase the fragility of the TL.
Borsa Istanbul closed last week with a sharp decline. While the BIST 100 index lost value by 16.6% depending on both the domestic market and global developments, the banking index was the sector that lost the most value with a decline of 26%. While the BIST 100 index closed at 9,045 on Friday, the weak outlook became more pronounced as it fell below the 200-day moving average. Technically speaking, the levels of support 8.980 – 8.725 – 8.618 – 8.560 – 8.000 while standing out as, the resistance levels are 9.221 – 9.451 – 9.594 – 9.784 – 9.895 he is being followed as. In particular, the 8.618 - 8.560 band is being watched as a strong support point, as it coincides with the bottom levels in November 2024. If it goes below this level, the decline may become more pronounced. On the other hand, in order for a positive mood to occur in the stock market again, the 9.594 level needs to be exceeded in the first stage. If this happens, the 9.895 – 10.197 band may come up again.
The Shares That Increased The Most:
BLSU → increased by 10.00% to TL 15.18.
DURDO → increased by 10.00% to 3.52 TL.
DCTTR → increased by 10.00% to 36.30 TL.
YBTAS → Increased by 10.00% to 169,822.50 TL.
SNKRN → reached TL 93.50 with an increase of 10.00%.
The Most Declining Shares:
ATEKS → fell by -9.97% to TL 100.20.
DERHL → fell by -9.75% to 34.44 TL.
PCILT → fell by -8.37% to TL 11.16.
ETHYLR → fell by -7.78% to 7.70 TL.
AKCNS → fell by -5.78% to TL 168.00.
The Companies with the Highest Market Capitalization in Borsa Istanbul:
QNB Finansbank (QNBTR) → Market capitalization of TL 1.25 trillion, price per share is TL 370.00, a decrease of 0.87%.
Aselsan Electronics Industry (ASELS) → Market value of TL 503.88 billion, price per share is TL 115.00, an increase of 4.07%.
Garanti Bank of Turkey (GARAN) → market value of TL 450.24 billion, price per share is TL 112.70, an increase of 5.13%.
Turkish Airlines (THYAO) → market value of TL 394.33 billion, price per share is TL 301.50, an increase of 5.51%.
Koç Holding (KCHOL) → Market value of TL 389.51 billion, price per share is TL 158.90, an increase of 3.45%.
Precious Metals and Foreign Exchange Prices
Gold: 3691 TL
Silver: 40.41 TL
Platinum: 1195 TL
Dollar: 38.08 TL
Euro: 41.16 TL
Hope to meet you again tomorrow with the latest news!
