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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
Daily Market Summary with JrKripto
You can access the "Daily Market with JR Crypto" 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 $ 82,500. The $ 79,100 - $ 80,763 region stands out as a strong support area. If BTC can hold on in this region, it can retest the $ 85,600 and $ 90,700 levels. However, if this support is lost, there is a risk of a drop to the $ 74,100 - $ 74,200 band.Ethereum (ETH) is currently trading at $ 2,105. While the $ 2,000 level stands out as a critical support point, if this region is lost, a pullback to the $ 1,900 level can be seen. On the upside, the $2,250 and $2,534 levels are important resistance points, and if they are overcome, ETH could accelerate towards the $2,721 and $3,000 levels.Crypto NewsThe US House of Representatives will vote on the Genius Act, a Stablecoin DirectiveChina will begin imposing additional tariffs on certain goods imported from the US.President Trump said 🇺🇸 America will "never sell" Bitcoin.SEC accepts Polkadot spot ETF application for review.SEC accepts Canary Spot HBAR ETF application.David Sacks said the US government will audit crypto assets "to find out what digital assets we actually own."Binance to list CHESS/USDC, EGLD/USDC, OSMO/USDC, T/USDC, and UTK/USDC trading pairs.CryptocurrenciesTop GainersENA → Up 7.0% to $0.46464746.IP → Up 5.7% to $5.09.LAYER → Up 5.4% to $0.84930028.NOT → Up 3.0% to $0.00213722.AAVE → Up 2.5% to $195.92.Top FallersSPX → Down 21.2% to $0.39393655.TRAC → Down 15.7% to $0.36262717.AIOZ → Down 15.0% to $0.25727337.HNT → Down 14.4% to $2.59.AIC → fell 14.2% to $0.25570681.Total Daily Net ETF InflowsBTC ETFs: -$409.30 MillionETH ETFs: -$23.10 MillionGlobal MarketsUS stock markets closed higher after a volatile week with trade wars and tariffs on the agenda. US Federal Reserve (Fed) Chairman Jerome Powell's statements eased concerns about the economy to some extent. Powell emphasized that the economy is strong and inflation expectations are relatively moderate, and stated that they are closely following the policies of the new US administration. With these statements, the S&P 500 gained 0.55%, the Dow Jones gained 0.52%, and the Nasdaq gained 0.70%.Eight of the 11 major sectors in the S&P 500 increased. The sectors that gained the most value were infrastructure (1.82%), energy (1.64%) and technology (1.44%), while the weakest performing sectors were essential consumption (0.61%), finance (0.58%) and discretionary consumption (0.31%).Nonfarm payrolls data for February fell slightly below expectations, increasing by 151,000 (expected: 159,000). January data was revised from 143,000 to 125,000. The unemployment rate rose from 4.0% to 4.1%, while hourly earnings were announced as 4.0% on an annual basis, below expectations of 4.1%.As the week began, inflation data from China was weaker than expected. On a monthly basis, a 0.1% decrease was expected, but a 0.2% decrease was seen, while on an annual basis, a 0.7% decrease was seen, despite expectations of a 0.4% decrease.Inflation data in the US will be closely monitored this week. The Consumer Price Index (CPI) will be released on Wednesday, the Producer Price Index (PPI) on Thursday, and the University of Michigan consumer confidence index on Friday.Most Valuable Companies and Stock PricesApple (AAPL) → Market value: $3.59T, Share price: $239.07 (+1.59%)Microsoft (MSFT) → Market value: $2.92T, Share price: $393.31 (-0.90%)NVIDIA (NVDA) → Market value: $2.75T, Share price: $112.69 (+1.92%)Alphabet (GOOG) → Market value: $2.13T, Share price: $175.75 (+0.88%)Amazon (AMZN) → Market value: $2.11T, Share price: $199.25 (-0.72%)Borsa IstanbulThe Central Bank's March Market Participants Survey has been announced. The inflation expectation for the end of 2025 fell to 28.0% (previous 28.3%). The expectation for 2026 remained constant at 19.1%, while the expectation for 5 years was maintained at 11%. The inflation expectation for the 24-month period fell from 17.3% to 17.1%. On the interest rate front, the policy rate expectation for the next three months was determined as 37.7%. This indicates that the CBRT may continue to cut interest rates by 250 basis points in the next two meetings.The Treasury had a deficit of 397.6 billion TL in February. The non-interest deficit was 265.9 billion TL. While revenues increased by 24.1% annually, expenses increased by 44.2%. A total deficit of 602.6 billion TL in the first two months of 2024formed. The Treasury will hold 2-year fixed coupon and 4-year TLREF index bond auctions tomorrow.The BIST 100 index closed last week with an 8.8% increase. The 10,500 level was exceeded with the purchases made on Friday, and the highest closing was achieved since August 2024. The stocks that rose the most on a weekly basis were Aselsan, THY, BİM, Akbank and Koç Holding, while gold mining, defense, aviation, banking and iron and steel stood out in terms of sectors. On the other hand, textile, insurance and food stocks lagged behind the index. This week, industrial production and current balance data will be followed domestically, while US inflation data will be followed abroad. Customs tariff regulations and geopolitical developments that may come from the US may cause fluctuations in the markets.Technically, the BIST 100 index continues its upward trend. With the 10,197-10,276 band being exceeded, the upward movement gained strength. If the index exceeds the 10,570/10,598 levels, the increase can be expected to accelerate and continue to the 11,156/11,172 band. Support levels are monitored as 10,407, 10,276, 10,197 and 10,121, while resistance levels stand out as 10,570, 10,598, 11,156 and 11,172. In general, BIST is expected to continue its positive trend at the beginning of the week.Stocks with the Most Increase:KERVT → increased by 9.98% to 14.77 TL.OFSYM → increased by 9.98% to 41.00 TL.BULGS → increased by 9.97% to 21.84 TL.MAKTK → increased by 9.97% to 8.16 TL.DAGHL → increased by 9.97% to 48.30 TL.Stocks That Decreased the Most:OZRDN → decreased by -9.23% to 9.34 TL.DEVA → decreased by -8.40% to 65.95 TL.MGROS → decreased by -6.46% to 521.50 TL.DSTKF → decreased by -6.24% to 133.70 TL.BIMAS → decreased by -5.59% to 523.50 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) → 595.98 billion TL market value, 141.2 TL per share price, -0.49% decrease.Aselsan Elektronik Sanayi (ASELS) → 493.39 billion TL market value, 110.5 TL per share price, +2.13% increase.Turkish Airlines (THYAO) → 463.33 billion TL market value, 336.50 TL per share price, +0.22% increase.Koç Holding (KCHOL) → 438.71 billion TL market value, 172.3 TL per share price, -0.40% decrease.Precious Metals and Currency PricesGold: 3410 TLSilver: 38.32 TLPlatinum: 1145 TLDollar: 36.51 TLEuro: 39.57 TLHoping to meet again tomorrow with the latest news!Author: Besim Şen
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9 Mar 2025
Historic Crypto Summit at the White House: The US Takes Action for Crypto Leadership
US President Donald Trump hosted the first-ever Crypto Summit at the White House, revealing his vision for the US to become a global leader in cryptocurrency and Bitcoin. Government officials and leading figures in the crypto industry came together at the summit, where Bitcoin reserves, stablecoin regulations and the future of the digital asset market were discussed.The US Strengthens the Bitcoin ReserveIn his speech, Trump reminded everyone of his promise to make the US the “crypto capital of the planet” and announced that they had taken a historic step towards this vision. Trump emphasized the decree he signed yesterday regarding the establishment of the Strategic Bitcoin Reserve.Drawing attention to the fact that the US government is one of the largest Bitcoin owners, Trump announced that the state could have 200,000 Bitcoins, including Bitcoins obtained through federal lawsuits. Stating that these assets would form the basis of the new Bitcoin reserve, Trump stated that the Treasury and Commerce Departments would investigate ways to acquire additional Bitcoins. However, he emphasized that this process should not impose additional costs on US taxpayers.Stablecoin Regulations on the Priority AgendaThe Trump administration is preparing to take serious steps not only in Bitcoin but also in regulating the digital asset market. President Trump stated that Congress should accelerate stablecoin regulation and announced that he wants these regulations to become law before the August recess.US Treasury Secretary Scott Bessent also emphasized the importance of stablecoin regulations, saying, “We will keep the dollar as the dominant reserve currency in the world and we will use stablecoins to do this.” This statement clearly revealed the US’s intention to place stablecoins at the center of its financial system.Bureaucracy’s War on Crypto EndsTrump announced that the previous IRS (US Tax Office) crypto guidelines will be withdrawn and changed, thus ending the uncertainty regarding crypto regulations. Stating that the bureaucracy has declared war on the crypto sector, Trump stated that efforts are ongoing to remove these obstacles. With the new regulations, digital assets other than Bitcoin will be managed under a new structure called the “US Digital Asset Stock”.Industry Leaders Meet at the White HouseAmong the names attending the Crypto Summit were prominent names in the sector such as Michael Saylor, Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev, the Winklevoss brothers, Kraken’s Arjun Sethi, CEO Kris Marszalek, Ripple CEO Brad Garlinghouse and Chainlink Labs’ Sergey Nazarov. The summit’s speeches discussed the US’s progress in the crypto space and strategies to get ahead in global competition.David Sacks, one of the leading names in the crypto sector, underlined the importance the government attaches to Bitcoin by saying, “Bitcoin is scarce, valuable and this is strategic for the US to hold it as a long-term reserve asset.”The US Enters the Race for Crypto LeadershipTrump’s new moves are seen as an important step towards making the US a global superpower in the crypto market. Considering the moves of countries such as China and Russia to create Bitcoin reserves, the US’s efforts to maintain leadership in this area becomes even more critical.The Crypto Summit at the White House signals a major shift in the government’s approach to crypto. The Trump administration will continue to take aggressive steps to bring the US to the top in this area, seeing Bitcoin and digital assets as an economic and strategic force.Author: Besim Şen
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9 Mar 2025
ETH Comment and Price Analysis 10.03.2025
ETHWhen Ethereum price movements are examined, important support and resistance levels become apparent on a macro scale.Macro Bottom and Major Support LevelsStrong support levels for Ethereum on a macro scale are located at $1,692 and $1,574. These levels are critical areas where there has been strong buyer interest in the past, and the price can be expected to react from here.Levels with Intense Institutional InterestThe levels that institutional investors show interest in and stand out as buying zones are $2,071 and $2,186. The $2,071 level currently works as an SR Flip (Support-Resistance transformation).Main Resistance Levels and Target ZonesIn Ethereum's bullish scenario, the first important resistance levels will be $2,534 and $2,723. In particular, the $2,071 - $2,723 region is a consolidation area that determines Ethereum's price structure, and if this region is won by buyers, the price movement is expected to enter a more aggressive uptrend.Critical RegionIf Ethereum clearly exceeds the $2,723 level, it can be considered that buyer superiority is confirmed in the market. In this scenario, the next target to be followed will be $3,406.In the pullbacks that the price will make after reaching the $3,406 level, our main target will be $5,000 as long as it does not remain below the resistance zone we have won.Ethereum's price movement will maintain its upward expectation as long as it remains above the major support levels. In the short term, the $2,071 - $2,723 region will be a critical decision area, and daily or weekly closings above this region will activate a strong bullish scenario for Ethereum.Important Note: Due to the volatile nature of the market, reactions from the determined levels should be followed carefully. In particular, global macroeconomic developments and market dynamics can directly affect price movements.These analyses, which do not provide investment advice, focus on support and resistance levels that are thought to create trading opportunities in the short and medium term according to market conditions. However, the user is solely responsible for trading and risk management. In addition, it is strongly recommended to use stop loss in relation to shared transactions.Author: Altar
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9 Mar 2025
Utah Senate Approves Bitcoin Bill: However, Critical Provision Removed
The Utah Senate has approved a major bill regarding Bitcoin and digital assets. However, the initial bill that called for Bitcoin to be held in state reserves was removed. This was met with both support and criticism from the crypto community.What Does the Bill Include?The bill that passed the Utah Senate aims to better regulate digital assets. The bill aims to formally recognize digital assets by allowing the state to adopt a more open approach to cryptocurrencies in its financial regulations. However, the provision in the initial draft that called for the state to hold Bitcoin as an official reserve asset was removed from the final version.Why Was the Reserve Provision Removed?The bill’s authors stated that Utah holding Bitcoin in reserves posed potential risks. Lawmakers believed that this move could harm the state’s economy and put public funds at risk due to volatility in cryptocurrency markets. As a result, the proposal to hold Bitcoin as a reserve asset was removed from the bill. However, this caused disappointment among crypto advocates.Pro-Bitcoin Regulations ContinueAlthough the idea of holding Bitcoin as a reserve has been abandoned, the bill shows that Utah continues to take a crypto-friendly approach. Utah continues to be among the states that are taking progressive steps in digital asset regulation. The new law aims to create a safe environment for businesses in the sector by providing more legal clarity for blockchain and crypto technologies.Crypto Community ReactionWhile cryptocurrency advocates welcome Utah’s move, they believe that the removal of the reserve provision is a huge waste of opportunity. Investors who argue that Bitcoin has strong potential as a long-term store of value think that governments should start adopting the asset as a reserve.However, some experts find Utah’s cautious approach justified. Bitcoin’s volatility suggests that holding it in state reserves can be risky. The Utah government seems to have chosen a more balanced regulatory path considering this risk.The Bitcoin bill passed by the Utah Senate shows that the state has adopted a positive attitude towards cryptocurrencies. However, the removal of the provision requiring Bitcoin to be held as a reserve asset is seen as a development that limits the impact of the regulation. Still, Utah is expected to continue to develop as a crypto-friendly state, and this law could pave the way for more comprehensive regulations in the future.Author: Besim Şen
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9 Mar 2025
SEC Took a Step Back from Crypto Lawsuits
Recently, the US Securities and Exchange Commission (SEC) has made a significant change in its attitude towards the cryptocurrency sector, halting or withdrawing lawsuits and investigations against many major cryptocurrency companies. This step is considered a harbinger of a new era in the cryptocurrency market.The SEC's Changing ApproachThe SEC had previously filed lawsuits and initiated investigations against leading cryptocurrency exchanges such as Binance, Coinbase, Kraken and Uniswap for violating securities laws. However, with the decisions made in February and March 2025, these lawsuits and investigations were either halted or completely withdrawn.Suspended or Withdrawn Cases and InvestigationsAmong the cases and investigations that the SEC has recently halted or withdrawn are the following:Binance: Case withdrawn on February 10, 2025.Coinbase: Case halted on February 21, 2025.OpenSea: Investigation was stopped on February 21, 2025.Robinhood: Investigation was stopped on February 24, 2025.Uniswap: Investigation was stopped on February 25, 2025.Justin Sun (Tron): Investigation was stopped on February 26, 2025.ConsenSys: Investigation was stopped on February 27, 2025.Kraken: Case was withdrawn on March 3, 2025.Yuga Labs: Investigation was stopped on March 4, 2025.DRW: Investigation was stopped on March 4, 2025.These developments indicate that the SEC is taking a more flexible approach towards the cryptocurrency sector.Ripple Case ContinuesOn the other hand, the case against Ripple is still ongoing in the court of appeals.This new approach by the SEC towards the cryptocurrency sector could be a significant turning point for the future of the sector. A more flexible and collaborative attitude by the regulator could contribute to a more stable and reliable structure for cryptocurrency markets.Author: Besim Şen
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8 Mar 2025
The US Banking Regulator Approves Banks' Participation in Crypto Activities.
The US Office of the Comptroller of the Currency (OCC) has once again confirmed that banks can participate in certain crypto activities. This step is considered an important development towards strengthening the integration between traditional finance and the digital asset ecosystem.Green Light for Banks’ Crypto Asset ServicesAccording to the statement made by the OCC, banks in the US will start to offer some crypto services within the appropriate regulatory frameworks. In this context, banks will be authorized to offer cryptocurrency custody services and certain stablecoin activities to their customers. However, it is emphasized that these activities should be carried out in cooperation with regulatory authorities.Stablecoin and Digital Asset Custody Services in the ForefrontThe OCC states that it is particularly focused on stablecoin transactions and digital asset custody services. Since stablecoins are indexed to traditional currencies such as the US dollar, they are considered lower-risk crypto assets by regulators. In order for banks to offer these services, they need to strengthen their risk management procedures and obtain regulatory approval.Banks' Interest in Crypto Activities is IncreasingIn recent years, large banks and financial institutions have increased their interest in the crypto sector. Giants such as JPMorgan, Bank of America, and Citibank have begun to take steps to offer various services in the crypto space. This decision by the OCC could pave the way for banks to offer more digital asset services and could lead to the start of a new era in the sector.Regulatory Clarity is an Important Step for BanksOne of the banking sector's biggest concerns about cryptocurrencies was regulatory uncertainty. This statement by the OCC could encourage the expansion of crypto services by providing a clearer framework for banks. However, it is stated that banks should comply with strict compliance procedures and prioritize risk management in this process.New Opportunities Ahead for BanksThe statement by the US Office of the Comptroller of the Currency clearly stated that banks can operate in certain areas such as crypto asset custody and stablecoin transactions. This could enable banks to develop new business models and accelerate their integration into the crypto ecosystem. As the crypto market continues to grow, it is anticipated that traditional financial institutions will continue to take part in this area.Author: Besim Şen
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8 Mar 2025
Daily Market Summary with JrKripto 7 March 2025
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 NewsDonald 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.CryptocurrenciesTop GainersBTSE → 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 FallersRED → 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 InflowsBTC ETFs: -$134.30METH ETFs: -$10.00MData to Watch Today16:30 | US | Average Hourly Earnings (MoM) (Feb) → Expected: 0.3% | Actual: 0.5%16:30 | US | Nonfarm Payrolls (Feb) → Expected: 159K | Actual: 143K16:30 | US | Unemployment Rate (Feb) → Expected: 4.0% | Actual: 4.0%19:00 | US | Fed Monetary Policy Report20:30 | US | Fed Chair Powell’s Speech21:30 | US | US President Trump’s SpeechGlobal MarketsUS 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 PricesApple (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 IstanbulThe 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 IstanbulQNB 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 PricesGold: 3411 TLSilver: 38.22 TLPlatinum: 1139 TLDollar: 36.48 TLEuro: 39.48 TLHoping to meet again tomorrow with the latest news!Author: Besim Şen
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7 Mar 2025
Big Step for SUI: Canary Capital Filed ETF Application in Delaware!
There has been a new development that has caused a stir in the crypto market. Canary Capital has filed a formal application in the state of Delaware to launch an exchange-traded fund (ETF) for popular blockchain project Sui (SUI). This move could pave the way for a new investment vehicle that will provide institutional investors with easier access to SUI.ETF Process for SUI Has StartedThe process, which Canary Capital has initiated by establishing a trust structure in Delaware, indicates that the company intends to advance the formal application process with the US Securities and Exchange Commission (SEC). If the process goes smoothly, a SUI-based ETF could find its place in the market, like the Bitcoin and Ethereum ETFs.This development comes on the heels of World Liberty Financial’s (WLFI) recent announcement of a strategic partnership with the Sui blockchain. WLFI took an important step for institutional investors by adding SUI to its strategic reserve fund called “Macro Strategy.”Link to Trump-Backed Crypto ProjectSUI's ETF journey has also been strengthened by its partnership with World Liberty Financial, founded by former US President Donald Trump. The fact that WLFI has accepted SUI as a strategic reserve asset shows that confidence in this blockchain project has increased.ETF ApplicationWith the news of this, there was also movement in the SUI price. The new ETF application and the WLFI partnership supported by Trump have increased the interest in SUI, and it is eagerly awaited how it will affect the market dynamics in the coming period.Now, all eyes are on the SEC's possible evaluation process. If approval is received, a major wave of institutional investment could begin for SUI!Author: Besim Şen
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7 Mar 2025
Fed Member Waller: Interest Rate Cut Possible in the First Half of 2025
Interest Rate Cut Could Come in the First Half of 2025Fed Board Member Christopher Waller made statements that strengthened expectations for an interest rate cut. Waller said that suitable conditions have emerged for an interest rate cut and that this step could be taken in the first half of 2025.Is the Ground Ready for an Interest Rate Cut?Waller stated that inflation is on a downward trend and economic data are giving supportive signals for an interest rate cut. Expressing his confidence in the Fed's current plan, Waller said, "There is a good plan in place for an interest rate cut and we are seeing signs of softer economic data."A Step Could Come After the March MeetingWaller gave an optimistic message regarding the interest rate decisions that the markets are closely following by saying, "I think there could be an interest rate cut after the Fed meeting in March." These statements strengthened the expectation that the Fed could start cutting interest rates in the first half of the year.How Will Markets Be Affected?These statements increased hopes for an interest rate cut in financial markets. Investors are especially waiting for the decisions to come out of the March meeting. If the Fed confirms that inflation is under control, interest rate cuts may occur in the first half of the year.Author: Besim Şen
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7 Mar 2025
US Agricultural Non-Farm Employment and Unemployment Data Released
US Nonfarm Payrolls Data Released: Positive Signals for CryptoThe US nonfarm payrolls data released today fell short of expectations and had a significant impact on the markets. The low employment rate signals a slowdown in the economy, while increasing the possibility of a FED rate cut.Nonfarm Payrolls: 151K (Expected: 159K, Previous: 143K)Unemployment Rate: 4.1% (Expected: 4%, Previous: 4%)The low nonfarm payrolls indicate a weakening in the labor market. Less employment indicates that the economy is cooling down and companies are being more cautious in hiring. The FED takes this data into account when determining interest rate decisions. Weak employment and rising unemployment are important factors that increase the possibility of a rate cut.An interest rate cut provides more liquidity in the market and encourages investors to turn to risky assets. Cryptocurrencies in particular are among the assets that benefit the most from such loose monetary policies.In summary, the non-farm payrolls data announced today strengthens the possibility of a FED interest rate cut as it signals a slowdown in the economy. This is also considered a positive development for crypto markets.Author: Besim Şen
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7 Mar 2025
White House Crypto Summit: Strategic Bitcoin Reserve and the US's New Crypto Policy
US President Donald Trump signed an executive order on March 7 that foresees the establishment of a Strategic Bitcoin Reserve and a digital asset stock. This executive order is interpreted as the biggest indicator that the US government has begun to view Bitcoin and other digital assets as a long-term store of value. Following the signing of the executive order, a historic Crypto Summit will be held at the White House today.The summit will discuss US crypto policies, the financing of the strategic reserve, and the future of the sector. The event brings together leading figures in the sector and regulatory officials in Washington. The meeting will be attended by names such as Coinbase CEO Brian Armstrong, MicroStrategy President Michael Saylor, Gemini founders Cameron and Tyler Winklevoss, as well as Silicon Valley investor David Sacks, who is responsible for the Trump administration's crypto policies.White House Crypto Summit and Strategic Bitcoin ReserveThe executive order signed by Trump foresees the federal government using its Bitcoin assets as a strategic reserve. David Sacks, who was appointed as the White House's crypto czar, stated that the reserve will consist of approximately 200,000 BTC. These Bitcoins were seized as part of criminal or civil asset forfeiture proceedings in the past and were waiting to be sold until today. However, with this new decree, the US will create a national crypto reserve by holding these assets.US Treasury Secretary Bessent also said on the subject, "We need to bring Bitcoin into the country." This statement was interpreted as the US not only preserving existing Bitcoin assets for the strategic reserve, but also being able to purchase more Bitcoin in the future.White House officials will clarify the financing mechanism of the strategic Bitcoin reserve and address possible difficulties regarding Congressional approval. According to Reuters, the US government may consider four different cryptocurrencies as reserves in addition to Bitcoin. Although there is no clear statement on which assets these will be, David Sacks stated that ADA, SOL and XRP were discussed only because they are among the top 5 cryptocurrencies in terms of market value.Topics to be Discussed at the Crypto SummitAmong the most important agenda items of the summit at the White House are the US's cryptocurrency policies and regulations to be made regarding the future of the sector. The main topics to be discussed at the summit will be:Strategic Bitcoin Reserve: How will the US government manage its Bitcoins?New Crypto Regulations: Improving the current legal framework and eliminating regulatory uncertainties regarding the crypto sector.US Crypto Purchases: Which digital assets will be considered for the strategic reserve.Market Expectations: How investors and major financial institutions will react to these developments.The Trump administration has clearly shown that it will continue to follow a crypto-friendly policy. Trump, who promised to support the crypto sector during his election campaign, is showing that he has fulfilled this promise with the Strategic Bitcoin Reserve step.World Liberty Financial and Crypto Asset IncreaseAhead of the White House Crypto Summit, the decentralized finance initiative World Liberty Financial (WLFI) increased its crypto assets. According to World Liberty Financial’s on-chain data, the company added $10 million worth of Ethereum to its treasury. Arkham Intelligence data revealed that WLFI’s Ethereum holdings increased from 2,200 ETH on Monday to over 7,000 ETH on Thursday.This development shows World Liberty Financial’s confidence in the US’s crypto policies, while it also indicates that major players in the market are beginning to adapt to the new strategic reserve policy.Expectations in the Crypto MarketCrypto experts state that the US government’s establishment of a Bitcoin reserve will reduce pressure on the market and may lead to an increase in state-backed institutional purchases. It is also emphasized that this step may encourage other countries to adopt Bitcoin.The impact of the Trump administration’s crypto-friendly policies on the market is also being closely monitored. The decisions to be made at the summit will directly affect the long-term development of the crypto sector. Therefore, the meeting to be held today has created great excitement not only in the US but also in global crypto markets.In summary, this critical summit at the White House has the potential to reshape the US’s relationship with digital assets. While the Strategic Bitcoin Reserve is seen as a major step in changing the government’s perspective on crypto, the results of the summit could affect the entire industry. Crypto investors are eagerly waiting to see what roadmap the US will draw.Author: Besim Şen
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7 Mar 2025