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Daily Market Summary with JrKripto 12 March 2025
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 $ 82,700. While the $ 79,100 - $ 80,763 region stands out as a strong support area, if BTC can hold on at this level, it can rise towards the $ 85,600 and $ 90,700 levels. However, if this support is lost, there is a risk of a pullback to the $ 74,100 - $ 74,200 band.Ethereum (ETH) is trading at $ 1,900. The $ 1,900 level is a critical support point, and if it breaks downward, a drop to $ 1,800 levels can be seen. In upward movements, $2,000 and $2,250 are being monitored as resistance levels. If ETH exceeds $2,250, it may accelerate towards $2,534 and $2,721.Crypto NewsSEC Postpones Altcoin Spot ETFsTrump: I don't see any recession in the economy. The country will rise.Trump is considering lowering Canadian tariffs.The White House said the stock market is in a transition period.Senator Lummis has reintroduced the 'Bitcoin Act' bill, which proposes buying $1 million BTC in 5 years with a minimum 20-year hold.Texas lawmaker has introduced a bill to buy up to $250 million worth of Bitcoin and crypto.CryptocurrenciesTop GainersXYO → up 27.8% to $0.01191196.AKT → up 25.1% to $1.49.PI → up 21.6% to $1.67.DAG → up 20.3% to $0.04818391.KET → up 16.4% to $0.16915201.Top FallersGRASS → down 12.1% to $1.29.ENA → down 9.1% to $0.37089987.HYPE → down 9.1% to $13.10.ARKM → down 8.6% to $0.53429102.APT → Down 7.1% to $5.18.Daily Total Net ETF InflowsBTC ETFs: -$371.00METH ETFs: -$21.60MData to Watch Today15:30 / USCore Consumer Price Index (CPI) (Monthly) (February)Expected: 0.3%Previous: 0.4%Consumer Price Index (CPI) (YoY) (February)Expected: 2.9%Previous: 3.0%Consumer Price Index (CPI) (Monthly) (February)Expected: 0.3%Previous: 0.5%16:30 / USEnergy Information Administration Crude Oil StocksPrevious: 3,614M17:00 / USAJob Opportunities and Turnover Rate (JOLTS) (January)Expectation: 7,710MPrevious: 7,600MGlobal MarketsGlobal markets left behind a volatile day due to mutual tax moves and political developments. While Canada announced that it will impose a 25% tax on electricity it supplies to the US, Donald Trump announced that he will increase the customs duty applied to steel and aluminum coming from Canada to 50%. He also said that he will make additional increases if other high taxes are not removed. However, after Canada backed down from its electricity tax decision, Trump also signaled that he will reduce customs duties. Following these developments, positive pricing was seen in the markets.On the other hand, Trump's announcement that he will invite Ukrainian President Zelenskiy back to the White House caused talk of a ceasefire in the Russia-Ukraine war. During this intense news flow, global stock markets experienced volatile movements and the major US stock indexes finished the day with losses. The S&P 500 lost 0.76%, the Dow Jones lost 1.14% and the Nasdaq lost 0.18%. While all sectors in the S&P 500 experienced declines, the sectors that suffered the most losses were industry, mandatory consumption and healthcare.Markets continue to discuss uncertainties regarding growth, customs duties and inflation. The US February CPI data to be announced today is of great importance. According to expectations, headline inflation will increase by 2.9% annually and 0.3% monthly. Core inflation is expected to be 3.2% annually and 0.3% monthly. While Asian stock markets started the new day positively, European markets are also expected to have a strong opening.Most Valuable Companies and Stock PricesApple (AAPL) → Market value: $3.32T, Share price: $220.84 (-2.92%)Microsoft (MSFT) → Market value: $2.83T, Share price: $380.45 (+0.08%)NVIDIA (NVDA) → Market value: $2.65T, Share price: $108.76 (+1.66%)Amazon (AMZN) → Market value: $2.08T, Share price: $196.59 (+1.05%)Alphabet (GOOG) → Market value: $2.01T, Share price: $165.98 (-1.09%)Borsa IstanbulRetail sales volume in Turkey increased by 12.5% annually and 2.0% monthly in January. This shows that domestic demand is strong. Total turnover in the industry, construction, trade and service sectors increased by 35.4% annually and 1.6% monthly.Construction costs increased by 9.10% monthly in January, especially due to the increase in workers' wagesincreased, while the annual increase decreased from 34.3% to 26.6%. When adjusted for seasonal effects, the monthly increase was only 0.2%.The Treasury borrowed a total of 102.4 billion TL in the bond auctions it held yesterday. The average interest rate of the 2-year bond was 37.28% annually.Turkey's current account deficit data for January will be announced today. The current account deficit was 4.65 billion dollars in December and 10 billion dollars in total for 2023. The current account deficit is expected to be 2.7 billion dollars in January.While sales were seen in the banking, insurance and aviation sectors yesterday, retail stocks, which had a sharp decline the day before, remained flat. BIST-100 index closed the day with a slight increase with purchases in industrial stocks. Aselsan, Koç Holding and Ford Otosan made the strongest contributions to the index.After the BIST close, news of the Ukraine-Russia ceasefire came, which caused the Borsa Istanbul Futures Market (VIOP) to continue rising. Global markets, on the other hand, fluctuated due to growth concerns, customs duties and ceasefire news.Yesterday, the BIST-100 index rose above the 10,500 level, but closed at 10,438. The 10,570-10,598 band is seen as a strong resistance zone. In order for the index to maintain its upward movement, the 10,357-10,276 levels are monitored as support.If the 10,570-10,598 levels are exceeded, a new upward movement towards the 11,156-11,172 band may begin. However, if there is a drop below the 10,276 level, downside risks may increase.Stocks That Gained the Most:ETILR → increased by 10.00% to 6.49 TL.KERVN → increased by 10.00% to 2.31 TL.DAGHL → increased by 9.98% to 58.40 TL.TERA → increased by 9.98% to 47.18 TL.KFEIN → increased by 9.96% to 113.70 TL.Stocks That Declined the Most:KGYO → decreased by -93.97% to 2.89 TL.GEDZA → decreased by -9.98% to 32.64 TL.DIRIT → decreased by -9.93% to 22.68 TL.AKYHO → decreased by -9.79% to 3.87 TL.DGNMO → decreased by -9.73% to 6.96 TL.Companies with the Highest Market Value on Borsa Istanbul:QNB Finansbank (QNBTR) → 920.41 billion TL market value, 277.00 TL per share price, 0.82% increase.Türkiye Garanti Bankası (GARAN) → 573.72 billion TL market value, 143.6 TL per share price, 5.12% increase.Aselsan Elektronik Sanayi (ASELS) → 533.52 billion TL market value, 115.2 TL per share price, -1.54% decrease.Turkish Airlines (THYAO) → 456.09 billion TL market value, 335.00 TL per share price, 1.36% increase.Koç Holding (KCHOL) → 442.26 billion TL market value, 178.4 TL per share, 2.29% increase.Precious Metals and Currency PricesGold: 3424 TLSilver: 38.89 TLPlatinum: 1161 TLDollar: 36.59 TLEuro: 39.90 TLHoping to meet again tomorrow with the latest news!Author: Besim Şen
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12 Mar 2025
Statement from the White House on Stock Market and Economic Transition Period
The sharp declines in US stock markets in recent days have made investors nervous. The declines in the Dow Jones, S&P 500 and Nasdaq indexes in particular have had a major impact on the markets. While such fluctuations have had significant effects on the global economy, the White House has made a critical statement on the subject.Latest Situation in US Stock MarketsThe recent sharp declines in US stock markets have caused approximately $2 trillion to be wiped out of the markets. While technology stocks in particular experienced major losses in value, investors have begun to evaluate the possibility of a recession.The Dow Jones Index fell by approximately 900 points, losing 2.08%.The S&P 500 Index fell by 2.75%, entering a serious downtrend in the markets.The Nasdaq Index lost 4%, its worst day since 2022.Following these developments, the White House made a statement stating that the economy is currently in a "transition period".White House Responds to Recession ClaimsWhite House Press Secretary Karoline Leavitt, in a statement she made at the press conference, evaluated the economic turbulence as “part of the economic transition period.” She also emphasized that the economic chaos left by the previous Biden administration caused such fluctuations.President Donald Trump made the following statement over the weekend:“There is a transition period right now because what we are doing is very big. We are bringing wealth back to America. This is a very important thing. There are always periods that take a while.”Secretary of Commerce Howard Lutnick, on the other hand, made a more optimistic comment for the markets by saying, “There will be no recession in America,” contrary to Trump.Economic Transition Period and Its Effect on Stock MarketsThe White House’s emphasis on the transition period shows that there are major changes in the economy and that fluctuations are inevitable during this process. While the losses seen in technology stocks and stock market indices shake investor confidence, the importance of long-term investment strategies is once again on the agenda.Economic transition periods often involve instability, uncertainty and volatility. However, historically, new growth opportunities have emerged following such processes. These statements from the White House are trying to direct investors to act carefully without panicking.A Critical Process for InvestorsThe recent declines in US stock markets and the statements from the White House are providing important signals for the global economy. It is critical for investors to remain calm and take conscious steps during such transition periods for long-term financial health. Such fluctuations can also open the door to new opportunities in the markets, as they have in the past.Author: Besim Şen
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11 Mar 2025
Trump's Harsh Additional Tax Decision for Canada: Customs Duty on Steel and Aluminum Increased to 50%
US President Donald Trump announced that he has increased the tariff on steel and aluminum products imported from Canada to 50%. This decision was made in retaliation for the tariffs imposed on US-origin energy in the Canadian province of Ontario. The new tariff could increase tensions in US-Canada trade relations.Trump's Strong Response to CanadaTrump stated in his statement that he had given instructions to the US Department of Commerce and that an additional 25% was added to the existing 25% tariff on steel and aluminum imported from Canada, bringing the total to 50%. The main reason for this decision was cited as Ontario's new tariffs on energy imported from the US.The US administration argues that Canada's restrictions on the energy sector negatively affect American industry and that the additional tariff is therefore a balancing policy. Trump emphasized that this move was necessary to protect US steel and aluminum producers.New Tensions in US-Canada TradeCanada is one of the US's largest trading partners, and trade between the two countries reaches hundreds of billions of dollars each year. However, protectionist policies and mutual trade barriers have recently caused tension in bilateral relations.The Canadian government reacted strongly to Trump's additional customs duty decision. Officials announced that this decision taken by the US may be against WTO (World Trade Organization) rules and that they may respond.What Will the Additional Duties Have on the Economy?The additional customs duties are expected to negatively affect some sectors in both the US and Canada. It is predicted that steel and aluminum prices may increase, especially in the automotive, construction and manufacturing sectors.US industrialists and some business representatives say that this additional duty will increase costs for consumers and damage production chains. In contrast, the Trump administration argues that US steel and aluminum producers will have an advantage in global competition.Trump’s move has created new tension in US-Canada trade relations, and is being closely monitored in terms of global trade policies. How Canada responds to this situation will determine the course of economic relations between the US and Canada in the coming period.The impact of this development on the markets and its implications for the balance of trade between the two countries will become clearer in the coming days. Trump Author: Besim Şen
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11 Mar 2025
Texas Introduced a New Bill for a $250 Million Investment in Bitcoin and Cryptocurrency
Texas is taking another big step in the crypto space. On March 11, 2025, state officials introduced a new bill that would allow up to $250 million in investments in Bitcoin and other crypto assets. The bill, called “House Bill 4258,” aims to invest in digital assets from the state’s economic stability fund (Rainy Day Fund).Second Attempt for a Bitcoin ReserveThis is Texas’ second major step toward creating a Bitcoin reserve. Previously introduced, Senate Bill 778 would allow the state to accept taxes and donations in cryptocurrency. However, that bill did not include a specific budget allocation for the state to invest in Bitcoin.With the new bill, HB 4258, Texas plans to allocate a specific budget to digital assets for the first time. According to the bill:The state Treasury Department will be able to purchase up to $250 million in Bitcoin or other crypto assets.Municipalities and counties in Texas will be able to invest up to $10 million of their own budgets in Bitcoin and other digital assets.The purchased Bitcoins must not be sold for at least five years, so that a long-term investment strategy can be followed.If passed by the Texas House of Representatives, the bill will go into effect on September 1, 2025.Why is the Bitcoin Reserve Bill Important?This new bill represents a significant shift in Texas’ economic strategy. It goes beyond traditional reserve models and allows state funds to diversify into Bitcoin and other digital assets.Supporters argue that Bitcoin is a hedge against inflation and will maintain its value in the long term. However, opponents state that Bitcoin and other crypto assets can be a risky investment for state funds due to their volatility and regulatory uncertainties.Recent developments have further increased these concerns. In March 2025, President Trump imposed high tariffs on imports from Canada, Mexico and China, causing volatility in global markets.Despite this, the Texas administration believes that Bitcoin will gain value in the long term. If the bill becomes law, low Bitcoin prices could create a buying opportunity for Texas, which could make the state economically stronger in the future.Texas’ Bitcoin investment plan could be a historic milestone for the cryptocurrency market. If the bill becomes law, Texas will be one of the first states in the US to add Bitcoin to its official reserve assets. This development could also affect how other states and even national governments approach crypto investments.The Texas House of Representatives is continuing to evaluate the bill, and a final decision is expected on May 24, 2025. If passed, Texas will be one of the pioneer states in the US to legalize crypto reserves, and this move could go down in history as an important step in the US’s digital economy policy.Author: Besim Şen
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11 Mar 2025
SEC Accepts Grayscale's HBAR ETF Application
The US Securities and Exchange Commission (SEC) has officially accepted Grayscale’s Hedera (HBAR) ETF application. This step stands out as one of the notable developments in the cryptocurrency market, and after SEC approval, it may offer investors the opportunity to invest in HBAR through traditional financial instruments.What is HBAR ETF and Why is it Important?The HBAR ETF will allow investors to invest in HBAR through an exchange-traded investment fund without directly owning Hedera Hashgraph (HBAR). Such funds allow institutional and individual investors to access crypto assets more easily and securely.A New Stage in the Grayscale and SEC ProcessGrayscale had previously applied to the SEC for the HBAR ETF. The SEC’s evaluation of the application indicates that the process has moved forward. However, regulatory approval must be completed for this ETF to be launched.Potential Market ImpactsInstitutional investor interest may increase: Large investors may invest in HBAR through exchange-traded funds instead of directly buying and holding cryptocurrencies.Hedera ecosystem may strengthen: ETF approval could increase HBAR adoption and have a positive impact on the price.Signal of progress in crypto ETFs: The SEC’s acceptance of this application could indicate that more crypto asset ETFs may receive approval in the future.The ETF still needs to wait for final approval to be launched. However, the SEC’s acceptance of the application stands out as an important development indicating that institutional adoption is increasing in the crypto market.Author: Besim Şen
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11 Mar 2025
SEC Reviews Bitwise's DOGE Spot ETF Application
The US Securities and Exchange Commission (SEC) has officially announced that it is reviewing Bitwise's Dogecoin (DOGE) spot ETF application. This development is considered an important step in terms of Dogecoin's integration into the traditional financial world.What Does DOGE Spot ETF Mean?Dogecoin spot ETF will offer investors the opportunity to invest in DOGE through an exchange-traded investment fund without directly purchasing it. Following the approval of Bitcoin and Ethereum spot ETFs, a similar process has begun for DOGE.Possible Effects on the MarketInstitutional investor interest may increase: Spot ETF approval may facilitate access to Dogecoin for large investors.DOGE price volatility may be seen: Price fluctuations may occur depending on the progress of the process.Signal of expansion in crypto ETFs: The acceptance of the application for DOGE may pave the way for new ETF applications for other altcoins.For now, the SEC has only announced that it is reviewing the application. Although it is unclear when the final decision will be made, this step is seen as an important development that strengthens Dogecoin’s position in the financial world.Author: Besim Şen
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11 Mar 2025
Fidelity has applied to the SEC to add staking to its Ethereum ETF.
Fidelity, one of the world's leading asset management companies, has officially filed a request with the US Securities and Exchange Commission (SEC) to add a staking feature to its Ethereum (ETH) spot ETF. This step could make Ethereum investment funds more attractive and offer investors additional earning opportunities.What Does Staking Mean in Ethereum ETFs?Staking is a system that allows investors to contribute to network security by locking their Ethereum and earn rewards in return. If the SEC accepts Fidelity's proposal:Ethereum ETF investors could earn additional income.Ethereum's market value and investor interest could increase.Other crypto ETF providers may also start evaluating staking options.This development could pave the way for Ethereum's greater adoption in the traditional financial world.SEC Decision Will Be DecisiveThe SEC has previously imposed sanctions on major crypto exchanges such as Kraken due to their staking services. However, allowing a spot ETF to stake could signal a more flexible regulatory approach.Fidelity’s application emphasizes that the staking process should be made more efficient and profitable for investors. If the SEC approves, Ethereum ETFs could become more attractive than traditional investment funds.What Will It Affect the Ethereum Price?If the new SEC administration approves the staking feature, the ETH price could see much larger increases.Fidelity’s application could open the door to a new era for Ethereum ETFs. The SEC’s decision could shape the future of not only Ethereum but also the crypto market in general.Author: Besim Şen
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11 Mar 2025
SEC Delayed Altcoin Spot ETFs
The US Securities and Exchange Commission (SEC) has postponed its decision on spot exchange-traded funds (ETFs) for many altcoins. This development is being closely followed by investors and market analysts, and it provides important clues about the SEC’s regulatory approach to crypto assets.Bloomberg ETF analysts Eric Balchunas and James Seyffart stated that the SEC’s postponement decisions were expected. Seyffart said that these delays did not reduce the likelihood of approval:“Yes, the SEC has postponed a number of altcoin ETF applications, including Litecoin, Solana, XRP, and DOGE. This is expected because this is standard procedure and SEC Commissioner Mark T. Uyeda is still in office. This does not change our likelihood of approval. Also, the deadlines for these applications are not until October.”Similarly, Balchunas recalled that decisions on currently traded Bitcoin and Ethereum spot ETFs have also been postponed, adding, “Everything is being postponed.”Postponed Spot ETF ApplicationsAmong the applications postponed by the SEC are:VanEck Spot Solana ETFCanary Spot Litecoin ETFCanary Spot Solana ETFCanary Spot XRP ETFGrayscale Spot XRP ETFGrayscale Spot Litecoin ETFGrayscale Spot Dogecoin ETFGrayscale Spot Cardano ETF21Shares Spot XRP ETF21Shares Spot Solana ETFBitwise Spot XRP ETFThese delays indicate that the SEC is continuing its oversight process over the crypto markets. However, it is important to note that Bitcoin and Ethereum spot ETFs have also been postponed and eventually approved many times in the past.Reasons for SEC’s Delay DecisionThere are several key factors behind the SEC’s decisions:1. Market VolatilityAltcoins such as Dogecoin, Solana, Litecoin, and XRP are among the assets with high price volatility. The SEC is evaluating the risks that such volatile assets may pose to investors.2. Market Manipulation ConcernsThe SEC takes a cautious approach to the possibility of manipulation in cryptocurrency markets. It is known that spot ETFs undergo a detailed review process to determine whether they are vulnerable to manipulation.3. The Innovation of Spot Crypto ETFsWhile Bitcoin and Ethereum spot ETFs have recently been approved, the SEC prefers to conduct more analysis before approving similar products for other altcoins.4. Regulatory UncertaintiesThe political and regulatory environment in the US may affect the SEC’s approach to crypto assets.SEC’s Possible Future StepsHow the SEC’s process of approving crypto spot ETFs will unfold depends on several important factors:How the regulatory environment in the US will changePolitical developments and new administrations’ approach to crypto assetsThe maturation of the crypto market and the development of market infrastructureThe possibility of the SEC approving altcoin spot ETFs is still on the table. Considering the process that has been experienced with Bitcoin and Ethereum ETFs before, it is possible to say that these delays do not mean a final rejection.Investors and market experts who follow the cryptocurrency markets closely will continue to follow the SEC’s decisions closely. The decisions to be taken in the coming months may signal the beginning of a new era in the crypto market.Author: Besim Şen
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10 Mar 2025
Daily Market Summary with JrKripto 11 March 2025
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 $ 81,400. The $ 79,100 - $ 80,763 region stands out as a critical support area. If BTC cannot hold on in this region, there is a risk of falling back to the $ 74,100 - $ 74,200 band as the decline continues. In upward movements, the $ 85,600 and $ 90,700 levels will be monitored as resistance points.Ethereum (ETH) is trading at $ 1,920. The $ 1,900 level is a strong support point, and if this region is lost, the decline may deepen to $ 1,800 levels. In upward movements, $2,000, then $2,250 stand out as resistance levels. If ETH can overcome these levels, the rise towards $2,534 and $2,721 levels may gain momentum.Crypto NewsSingapore Exchange to list open-ended Bitcoin futures contracts.MicroStrategy Files for Up to $21 Billion Preferred Share Offering. The company plans to use this resource for general purposes and potential Bitcoin purchases.Coinbase announced that it will soon launch 24/7 continuous futures in the US.VanEck Solana ETF is registered in Delaware.Donald Trump plans to issue another new executive order regarding cryptocurrencies this week.More than $1.75 trillion in value was wiped out of the US stock market yesterday.CBOE Files Proposal Allowing Staking for Franklin Ethereum ETF.CryptocurrenciesTop GainersARKM → up 15.3% to $0.57807054.IOTX → up 8.7% to $0.01676431.IP → up 7.5% to $5.41.AKT → up 7.4% to $1.22.MOVE → up 5.7% to $0.48369299.Top FallersSPX → down 24.5% to $0.28587488.GRASS → down 15.7% to $1.48.FET → down 12.8% to $0.4627715.LDO → down 12.7% to $0.87767678.SUPER → Down 12.1% to $0.40774475.Total Daily Net ETF InflowsBTC ETFs: -$278.40METH ETFs: -$34.00MData to Watch Today17:00 / US / Job Openings and Job Turnover Rate (JOLTS) (January)Expected: 7,710MPrevious: 7,600MGlobal MarketsUS stock indices faced sharp sell-offs due to recession concerns. Despite US Commerce Secretary Lutnick’s statement that “There is absolutely no recession expected this year,” Donald Trump’s reference to the possibility of a recession increased selling pressure on the markets. The S&P 500 fell by 2.70%, the Dow Jones fell by 2.08% and the Nasdaq fell by 4.00%, while the Nasdaq had its worst day since September 2022. Of the 11 main sectors in the S&P 500, only infrastructure (1.04%) and energy (0.94%) closed positive, while technology (4.34%), discretionary consumption (3.90%), telecommunications (3.54%) and finance (2.20%) were the sectors that lost the most value. The “Magnificent Seven” stocks, which include large technology companies in particular, lost a total of $760 billion in market value. Rising recession concerns reinforced the expectation that the Fed will make three interest rate cuts in 2025. The Dollar Index fell to 103 in recent weeks and returned to its pre-election levels. While Asian stock markets are negative, European stock markets are expected to start the day slightly positive.Most Valuable Companies and Stock PricesApple (AAPL) → Market value: $3.42T, Share price: $227.48 (-4.85%)Microsoft (MSFT) → Market value: $2.83T, Share price: $380.16 (-3.34%)NVIDIA (NVDA) → Market value: $2.61T, Share price: $106.98 (-5.07%)Amazon (AMZN) → Market value: $2.06T, Share price: $194.54 (-2.36%)Alphabet (GOOG) → Market value: $2.03T, Share price: $167.81 (-4.52%)Borsa IstanbulIndustrial production (SÜE) decreased by 2.3% monthly in January, while increasing by 1.4% annually, according to seasonal and calendar adjusted data. The annual change adjusted for calendar effects was 1.2%. Despite the monthly decrease, a 1.8% increase was seen on a quarterly basis thanks to the strong increases in November and December. These fluctuations in industrial production provide an idea about the direction of economic activity. Despite the monthly decrease, the general trend is positive due to the previous strong increases.The Istanbul Chamber of Industry Turkey Export Climate Index was 51.1 in February. The index, which was 51.2 in January, has been above 50 for 14 months, indicating that external demand conditions are improving. While values above 50 indicate that export markets are improving, demand in Europe is weak, while the Middle East region continues to be important in terms of growth.Today, the Treasury held a 2-year fixed coupon and 4-year TLREF-indexed bond auctionri will do. These auctions may affect the state's borrowing policies and interest rates in the market. In addition, retail trade, turnover indexes and construction cost index data will be announced. These data provide clues about the course of consumption expenditures and the construction sector.The BIST-100 index started the week with a decline due to the competition investigation into retail chains and the weakening risk appetite in global markets. While the competition investigation had a negative impact on retail stocks, global uncertainties also increased sales in the market. While retail trade stocks lost more than 5% of their value, the positive trend in Aselsan and Tüpraş stocks provided some support to the index. Today, markets will focus on the balance sheet announcements of non-financial sectors and developments abroad. Financial results of companies may cause fluctuations in stock prices. A slightly seller-like opening is expected in BIST-100.After testing the level of 10,544 yesterday, the BIST-100 index retreated and closed at 10,422. An upward movement was attempted in the index, but it was met with sales. The rise, which weakened just below the 10,570-10,598 resistance zone, is currently considered a limited correction. Breaking this zone may trigger new increases. The 10,407-10,276 band is being monitored as a support zone. As long as the index remains above these levels, the expectation for an increase is maintained. If the 10,570-10,598 band is broken, a new movement towards the 11,156-11,172 levels may be seen. Critical levels should be monitored for the continuation of the increase.Support levels for BIST-100 stand out as 10,407, 10,380, 10,276, 10,197 and 10,121. If these levels are broken, the decline may deepen. Resistance levels are at 10,570, 10,598, 11,156 and 11,172. If these levels are exceeded, the rise may gain momentum.Stocks with the Most Increases:DSTKF → increased by 9.98% to 146.60 TL.DIRIT → increased by 9.96% to 25.18 TL.KERVT → increased by 9.95% to 16.24 TL.DAGHL → increased by 9.94% to 53.10 TL.ETILR → increased by 9.87% to 5.90 TL.Stocks with the Most Decreases:DURDO → decreased by -80.00% to 3.47 TL.GEDZA → decreased by -9.14% to 36.38 TL.OZSUB → decreased by -7.17% to 37.02 TL.BULGS → decreased by -6.87% to 20.34 TL.VBTYZ → decreased by -6.24% to 21.64 TL.Companies with the Highest Market Value on Borsa IstanbulQNB Finansbank (QNBTR) → 934.65 billion TL market value, 279.00 TL per share price, 0.00% change.Türkiye Garanti Bankası (GARAN) → 588.42 billion TL market value, 139.2 TL per share price, -0.64% decrease.Aselsan Elektronik Sanayi (ASELS) → 502.97 billion TL market value, 112.9 TL per share price, +2.36% increase.Turkish Airlines (THYAO) → 459.54 billion TL market value, 333.50 TL per share price, +0.15% increase.Koç Holding (KCHOL) → 432.88 billion TL market value, 172.0 TL per share, +0.76% increase.Precious Metals and Currency PricesGold: 3404 TLSilver: 37.71 TLPlatinum: 1131 TLDollar: 36.57 TLEuro: 39.67 TLHoping to meet again tomorrow with the latest news!Author: Besim Şen
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10 Mar 2025
Bybit CEO Calls Pi Network a Fraud: PI Token Will Not Be Listed
There has been a remarkable development in the cryptocurrency world. Bybit CEO Ben Zhou made harsh statements about the Pi Network, clearly describing the project as a “fraud”. Zhou stated that the PI token will not be listed on the Bybit exchange and claimed that the Pi Network operates in a way that is far from transparency.Why Does Bybit Not Trust the Pi Network?According to Zhou's statements, the main problems of Pi Network are:Not having a working blockchainInability to trade publicly on the marketsKYC issues that compromise personal dataHome network launches that have been delayed for yearsThe CEO of Bybit recalled that Pi Network was warned by the Chinese police in 2023 for targeting the elderly. Zhou argued that Pi had made attempts to deceive such sensitive groups.What Was the Pi Network's Response?In a statement to Cointelegraph, Pi Network stated that the warning issued by the Chinese police was directed at people who were imitating the project. He also argued that the accusations against the project were unfounded and misleading.In a post made by Pi Network's “unofficial technical team” on February 20, it was suggested that the listing offer from Bybit had been rejected. However, Zhou denied this claim and said that Pi Network had never applied for listing to Bybit, but rather that Pi was spreading false news to distract attention.Is PI Coin More Dangerous Than Meme Coins?Ben Zhou compared the Pi Network to meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB), noting that Pi is more dangerous than these projects. The reasons for this were listed as follows:DOGE and SHIB have a working blockchain infrastructure.The fact that they are listed on major stock exchanges provides transparency.The Pi Network, on the other hand, has been unable to start the main network for years and is constantly postponing.In addition, Pi Network is facing serious technical problems during the KYC process. Despite the KYC deadline extended to March 14, 2025, many users report that the problems have not been resolved.Investors Should Be CarefulZhou says Pi Network relies on investor trust and community FOMO (fear of missing out) without providing transparency and offering products. This can create huge risks in the crypto world. He emphasizes that investors should be wary of projects that are not listed.
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10 Mar 2025
Singapore Exchange (SGX) Launches Bitcoin Continuous Futures Trading
Singapore Exchange (SGX) to Launch Bitcoin Perpetual Futures Contracts in 2025As crypto markets become increasingly attractive to institutional investors, the Singapore Exchange (SGX) has taken a major step forward by announcing that it will launch Bitcoin perpetual futures contracts in the second half of 2025. This development is fueling interest in crypto derivatives in the traditional finance world and supporting Singapore’s ambition to become the crypto hub in Asia.A Regulated Option for Institutional InvestorsThe Bitcoin perpetual futures contracts offered by SGX will be available exclusively to institutional investors and professional clients. Individual investors will not be able to access these contracts. This move aims to ensure that large-scale investors can trade safely on a regulated platform.Singapore’s Crypto Regulations and SGX’s StrategyThese new futures contracts from SGX will be approved by the Monetary Authority of Singapore (MAS) and operate within its regulatory framework. The move is part of a strategy that aims to bridge the gap between traditional finance and crypto assets.SGX is expanding its role in the traditional finance world by entering the crypto derivatives market for the first time. This will allow large investors to invest in Bitcoin with less volatility risk and provide more stable pricing in the markets.Importance of SGX’s Bitcoin Perpetual FuturesThis new financial instrument has the potential to make Singapore one of the largest crypto financial centers in Asia. The prominent advantages of Bitcoin perpetual futures are:Continuous Trading: Perpetual futures are traded without a specific maturity period.Less Volatility: Large investors are expected to make Bitcoin prices more stable.Institutional Assurance: Being offered by a reliable exchange like SGX minimizes risks.Singapore Exchange Enters Crypto Derivatives MarketSGX’s move shows that traditional exchanges around the world are increasingly interested in the crypto derivatives market. Providing institutional investors with access to Bitcoin in a regulated environment will contribute to the maturation of the crypto market.In conclusion, SGX’s launch of Bitcoin perpetual futures contracts further blurs the line between the crypto and traditional financial worlds. This new product for institutional investors on a regulated and trusted platform could further strengthen Singapore’s place on the global financial scene.Author: Besim Şen
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10 Mar 2025
MicroStrategy Plans to Increase Bitcoin Purchases with $21 Billion Stock Offering
MicroStrategy plans to sell up to $21 billion in preferred stock as part of its strategy to grow its Bitcoin investments. The filing with the U.S. Securities and Exchange Commission (SEC) shows that the company aims to increase its financial flexibility and expand its Bitcoin holdings.What Does MicroStrategy’s Stock Offering Mean?MicroStrategy aims to raise significant funding from the market by issuing Series A perpetual preferred stock. These shares will offer a fixed annual yield of 8% and can be converted into the company’s Class A common stock at a later date. The company’s move offers both an attractive opportunity for investors and supports MicroStrategy’s long-term Bitcoin strategy.Goal: Buy More BitcoinThe company plans to use the funds to purchase Bitcoin and for corporate financing needs. MicroStrategy CEO Michael Saylor stated that they see Bitcoin as a long-term store of value and that the company will continue to build its financial strategy on Bitcoin. This move also reveals that MicroStrategy is targeting a total capital increase of $42 billion as part of its 21/21 strategy.MicroStrategy’s Current Bitcoin AssetsMicroStrategy stands out as one of the largest institutional Bitcoin investors in the cryptocurrency market. As of March 2025, the company reportedly holds 499,096 BTC, and these assets were acquired at an average cost of $66,357 per Bitcoin. This new move by the company could further increase its Bitcoin reserves and expand its influence in the crypto market.How Will MicroStrategy’s Strategy Affect the Crypto Market?MicroStrategy’s aggressive Bitcoin buying strategy could increase institutional investors’ interest in Bitcoin. The company’s move could increase overall confidence in the crypto market and strengthen Bitcoin’s position as a long-term investment vehicle. In addition, MicroStrategy shares will continue to offer an investment opportunity directly related to the Bitcoin price for stock investors.Conclusion: A New Era for Bitcoin and Institutional InvestorsMicroStrategy’s $21 billion stock sale shows that the company is determined to pursue its Bitcoin strategy even more aggressively. This could increase institutional investors’ interest in Bitcoin and strengthen confidence in the digital asset market. This step by MicroStrategy could further solidify Bitcoin’s role in the financial system.Author: Besim Şen
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10 Mar 2025
Coinbase is launching 24/7 uninterrupted futures trading.
Coinbase, one of the largest exchanges in the cryptocurrency market, has announced that it has launched 24/7 continuous futures trading in the US. The move means that Bitcoin (BTC) and Ethereum (ETH) futures can now be traded on weekends.Coinbase’s futures will be traded in compliance with the US Commodity Futures Trading Commission (CFTC) and will be offered under the umbrella of Coinbase Derivatives LLC. This development will allow the US markets to be more integrated with global crypto trading norms.What Does Coinbase’s 24/7 Futures Offer?Unlike traditional US futures markets, Coinbase’s perpetual-style futures will be open at any time, allowing investors to react more quickly to market fluctuations.These new futures:Continuous trading: While traditional futures are traded at specific hours, Coinbase’s perpetual futures will be open 24 hours.A first in US markets: This model, which has not been implemented in the US before, will increase competition with global markets.Open to institutional and individual investors: Coinbase appeals to a wide audience, from small investors to large funds.More efficient risk management: While investors in traditional futures must constantly renew their contracts, there will be no such requirement in indefinite futures.A New Era Begins in US Crypto MarketsFutures account for 75% of global crypto trading volume. However, the vast majority of these transactions were made outside the US. This move by Coinbase will allow US-based investors to compete on the same level as international markets.Coinbase CEO Brian Armstrong stated in a recent statement that they want to make financial markets in the US more competitive. He also said that tokenized securities could be added to the Coinbase platform.It is estimated that US exchanges will follow this trend initiated by Coinbase and become open 24/7 in the coming months.Author: Besim Şen
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10 Mar 2025
VanEck has applied for a Solana ETF.
VanEck Files for Solana ETF! SOL Price Drops Below $120A new development has occurred in the crypto investment world. Global asset management giant VanEck has filed an official application in Delaware for the Solana (SOL) spot ETF. This step will make it easier for institutional investors to invest in Solana via the stock exchange and could trigger a major change in the crypto market.What Does VanEck's Solana ETF Application Mean?VanEck continues to increase its investments in the crypto ecosystem. Finally, the company filed an exchange-traded fund (ETF) application for Solana in Delaware. Although this application is not an official file submitted to the SEC, it is considered the first step in Solana's ETF journey.The approval of the Solana ETF will allow investors to invest in Solana via traditional stock exchanges, opening the market to a wider audience of investors. Considering the significant interest in spot ETFs approved for Bitcoin and Ethereum, a similar process is possible for Solana.However, considering the SEC’s cautious approach to spot crypto ETFs in the past, it remains unclear whether the Solana ETF will be approved in the short term.What Will Be the Impact on the Market if the Solana ETF is Approved?Institutional Investor Inflow:If the Solana ETF is approved by the SEC, large investment funds and institutional investors will be able to invest in Solana more safely. This could trigger a large capital inflow, just like the Bitcoin spot ETFs.Positive Impact on Price:Bitcoin and Ethereum ETF approvals have pushed prices up in the past. A similar scenario could happen for Solana, and the ETF approval could push the SOL price back up.Regulatory Uncertainty Continues:How the SEC will evaluate crypto assets is a critical factor. Solana is at a controversial point in terms of decentralization, which could affect the ETF process.VanEck’s Solana ETF application is considered a significant development in the crypto market. However, it remains unclear what the SEC’s stance will be. Although the market does not seem to have priced in this news yet, the ETF approval in the future will bring new increases for Solana.Author: Besim Şen
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10 Mar 2025
CBOE Submitted a Proposal Allowing Staking for Franklin Ethereum ETF
The Chicago Board Options Exchange (CBOE), one of the leading options exchanges in the US, has submitted a proposal that would allow Franklin Templeton's Ethereum ETF to be staking on the Ethereum network. This proposal is being reviewed by the US Securities and Exchange Commission (SEC) and could be a significant turning point for Ethereum ETFs if approved.What is Staking and Why is It Important?Ethereum is a blockchain network that works with the Proof-of-Stake (PoS) mechanism. In this system, Ethereum holders can contribute to the security of the network by locking their ETH and earn rewards in return. The proposal presented by the CBOE aims to include Franklin Templeton's Ethereum ETF in this system.If this proposal is accepted, Ethereum ETF investors can earn additional income not only from ETH price movements, but also through staking rewards.SEC's Attitude Will Be DecisiveThe SEC is known for its regulatory approach to crypto staking. Previously, major exchanges like Kraken have been sanctioned for their staking services. However, allowing an ETF to stake could indicate increased flexibility in the regulatory framework.If this proposal is accepted, Ethereum ETFs could become more attractive compared to traditional investment funds. Because investors will be able to earn additional income not only from ETH price movements but also through staking.Is a New Era Beginning for Ethereum ETFs?This proposal from the CBOE could allow Ethereum ETFs to become part of the network rather than just a passive investment vehicle. If the SEC accepts this proposal, this could encourage other Ethereum ETF providers to consider staking options.This development could have a major impact on crypto markets. The decision the SEC will make in the coming days could shape the future of Ethereum ETFs.Author: Besim Şen
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10 Mar 2025