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U.S. Core Personal Consumption Expenditures (PCE) Announced
The US Core Personal Consumption Expenditures (PCE) Price Index, announced on February 28, 2025, has become a critical data closely followed by economists and market participants. This index, one of the most important indicators in the US Federal Reserve's (Fed) inflation assessments, is of great importance in terms of the direction of inflation and the Fed's monetary policy decisions.January Core PCE DataThe US Core PCE Price Index increased by 2.6% on an annual basis in January. This rate was in line with market expectations and was lower than the 2.9% increase in the previous month. On a monthly basis, an increase of 0.3% was observed. There was a monthly increase of 0.2% in December, and the January data show that inflation continues to accelerate, albeit slowly.The Fed and Its Impact on Monetary PolicyThe US Federal Reserve considers the Core PCE data as a critical indicator to understand the course of inflation when making monetary policy decisions. The Fed's inflation target is 2% and since the latest data is close to this target, markets do not expect a radical change in interest rate policies. However, if inflation remains under control, the issue of when the Fed will start the interest rate cut process remains on the agenda.What to Expect in the Future?Economists are evaluating what kind of policy the Fed will follow in the upcoming period by taking into account employment and growth indicators as well as inflation data. Market expectations are that if inflation remains under control, interest rate cuts may be on the agenda in the second half of 2025. However, global economic developments and geopolitical risks continue to be important factors that may affect the Fed's decisions.The 2.6% annual increase in the US Core PCE Price Index indicates that inflation is close to the Fed's target levels. This situation is interpreted as the Fed may continue its tight monetary policy but create space for interest rate cuts in the near future.Author: Besim Şen
Arizona Crypto Reserve Laws Move Closer to Becoming Law After Passing the Senate
The US state of Arizona is preparing to add cryptocurrencies to its official reserve assets. On February 27, 2025, the Arizona Senate approved two important bills that would allow the state to create crypto reserves. This development could pave the way for greater acceptance of digital assets in the legal and financial systems in the US.Content of Arizona Crypto Reserve LawsThe Arizona state government aims to accept Bitcoin and other digital assets in order to diversify the state's financial reserves and provide economic flexibility. The bills approved by the Senate allow the state to hold a certain amount of cryptocurrencies and consider them as reserve assets.This step is considered as part of Arizona's efforts to strengthen its financial infrastructure. If the law goes into effect, it will bring a major change to the state's financial policies and cryptocurrencies will be considered on par with traditional assets.Possible Effects of the LawsThe passage of these laws could make Arizona one of the crypto-friendly states in the US and inspire other states to make similar regulations. Cryptocurrency reserves could increase the state’s economic resilience and pave the way for more innovation in the financial system.However, there are risks to this process. The volatility of cryptocurrencies could lead to financial imbalances if they are accepted as reserve assets. It also remains unclear how regulators will approach such initiatives.Cryptocurrency Regulation in the US and the Role of ArizonaCryptocurrency regulations are increasingly being discussed across the US. Different states have different approaches, especially regarding the role of Bitcoin and other digital assets in the financial system. Arizona aims to be a pioneer in this area with its crypto reserve laws.One of the bills that passed the Senate on February 27, 2025, would allow the Arizona Treasury Department to hold a certain amount of Bitcoin and other digital assets as reserves. The other bill would allow the state government and public institutions to use cryptocurrencies for certain financial transactions.If these laws become law, Arizona would stand out as one of the states that both encourages financial innovation and evaluates cryptocurrencies more broadly.The crypto reserve laws approved by the Arizona Senate on February 27, 2025 are considered a major step towards digital assets gaining more ground in the financial system. If the laws are passed at the state level, Arizona could become one of the crypto-friendly states in the US, and this development could pave the way for more comprehensive regulations in the cryptocurrency market.Author: Besim Şen
Daily Market Summary with JrKripto 2 February 2025
You can access the "Daily Market with JrKripto" summary below, where we compile daily important developments in cryptocurrency, global and local markets.Let's analyze the general situation in the markets together and take a look at the most up-to-date evaluations.Bitcoin (BTC) touched the horizontal support area of $ 79,100 - $ 80,763 and the long-term rising trend line. At the same time, the 200-day moving average is in this area, strengthening the support. If the price holds at this level, the levels of $ 85,600 and $ 90,700 can be tested again. However, if the support is lost, the next critical area will be the $ 74,100 - $ 74,200 band. The price movement at this support level in the coming days will be decisive in terms of the general direction of the market.Ethereum (ETH) is trading close to the long-term rising trend support and the lower band of the symmetrical triangle. If the $2,121 - $2,140 support zone is maintained, the possibility of an upward recovery increases. However, if this zone is lost, a pullback towards the $1,900 level may be seen. In upward movements, the $2,300 and $2,534 levels are critical resistance points, and if they are overcome, it may gain momentum towards the $2,721 and $3,000 levels. The direction of ETH will depend on the price action at these support levels.Crypto NewsSEC and Justin Sun are working to resolve their fraud case.Bitwise registered its Aptos ETF in Delaware.Texas Business and Commerce Committee passed the Strategic Bitcoin Reserve bill, moving to the Senate plenary.SEC agreed to drop the Consensys case.BitMEX exchange stated that it is looking for a buyer and is preparing for a sale.SEC and Coinbase have definitely dropped the case between them.SEC: Meme coins are generally not securities under federal law.CryptocurrenciesTop RisersCAR → up 23.5% to $7.24.CKB → up 10.8% to $0.00681041.MORPHO → up 7.4% to $2.27.BIO → up 4.2% to $0.12435946.PLUME → up 2.6% to $0.14162723.Top FallersKAITO → down 27.4% to $2.00.KET → down 21.4% to $0.24872803.SPX → down 20.8% to $0.47942694.VANA → down 19.7% to $7.51.WEMIX → down 18.0% to $0.57890206.Daily Total Net ETF InflowsBTC ETFs: -$275.90METH ETFs: -$71.20MData to Watch TodayFriday, February 28, 202516:30 | 🇺🇸 US - Core Personal Consumption Expenditure Index (MoM) (January)Expectation: 0.3%Previous: 0.2%16:30 | 🇺🇸 US - Core Personal Consumption Expenses Price Index (YoY) (January)Expectation: 2.6%Previous: 2.8%Global MarketsWhile US indices were preparing to start the day with reactionary purchases due to Nvidia's balance sheet exceeding expectations, they experienced sharp sales after Donald Trump announced that customs duties on Canada and Mexico would come into effect on March 4 and that an additional 10% customs duty would be imposed on China. Trump stated in a statement on Wednesday that the tariffs on Canada and Mexico would come into effect on April 2. He also announced that he was canceling the exemption agreement for oil sales provided to Venezuela during the term of former President Joe Biden.Stock markets ended the day with declines led by technology stocks. Nasdaq lost 2.78%, S&P 500 lost 1.59%, and Dow Jones lost 0.45%. While 7 of the 11 main sectors in the S&P 500 Index declined, technology showed the weakest performance with a loss of 3.79%, infrastructure 2.23%, telecommunications and discretionary consumption 1.80%. Finance, energy 0.48%, and real estate 0.39% were the sectors that positively differentiated themselves. Nvidia shares declined by 8.5%.The US economy grew by 2.3% on an annualized basis on a quarterly basis in the 4th quarter. While consumption expenditures made the highest contribution to growth (+2.8 points), housing fixed investments and public spending also supported growth. Net exports contributed +0.12 points.Durable goods orders increased by 3.1% in January (expected: 2.0%) after a 1.8% decrease in December. Orders excluding transportation were flat. Pending home sales decreased by 4.6% monthly in January, falling more than expected (-0.9%).Weekly unemployment benefit applications increased by 22,000 in the week ending February 22, reaching 242,000 (expected: 221,000). The four-week moving average increased by 8,500 to 224,000. Continuing applications were announced as 1.86 million.The most important data for the markets today will be the January Personal Consumption Expenditures (PCE) inflation to be announced at 16:30 GMT. PCE, which was 0.3% monthly and 2.6% annually in December, is expected to increase by 0.3% monthly and 2.5% annually in January.Asian indices are on a negative course, while European indices are expected to start the day with a sell-off.Most Valuable Companies and Stock PricessApple (AAPL) → Market cap $3.56T, price per share $237.30, -1.27% down daily.NVIDIA (NVDA) → Market cap $2.93T, price per share $120.15, -8.48% down daily.Microsoft (MSFT) → Market cap $2.92T, price per share $392.53, -1.80% down daily.Amazon (AMZN) → Market cap $2.21T, price per share $208.74, -2.62% down daily.Alphabet (GOOG) → Market cap $2.06T, price per share $170.21, -2.57% down daily.Borsa IstanbulTurkey's foreign trade deficit in January was $7.54 billion, slightly below the previous estimate of $7.70 billion by the Ministry of Trade. The total 12-month foreign trade deficit rose to $83.6 billion. Exports increased by 5.8% in January to $21.2 billion, while imports increased by 9.6% to $28.7 billion.The Economic Confidence Index for February fell by 0.5 points to 99.2. When looking at sub-items, there were increases in retail trade, consumer confidence and real sector confidence indices, while decreases were seen in the service and construction sectors.Today, Turkey's last quarter growth rate and January unemployment data will be announced. The economy grew by 2.1% on an annual basis in the third quarter. Growth expectations for the last quarter are 3.0% and for the entire year are 3.1%. In addition, the Treasury will share its borrowing strategy for the next three months.Borsa Istanbul (BIST-100) closed positively for the second time in a row yesterday with a 1.8% increase. Telecom, holding and aviation sectors were the biggest gainers. It is thought that positive expectations regarding the CPI (Consumer Price Index) data were also effective in this increase. In particular, it is predicted that the regulation made regarding patient examination participation fees over the weekend may contribute to February inflation being slightly below expectations. A slightly bullish trend is expected in BIST today.BIST-100 index was bullish throughout yesterday's transactions and closed at 9741. After a three-day decline, the index rose above the 200-day average again. The 21-day average is 9771, while the 50-day average is 9805. It is thought that a permanent movement above these levels could provide a more significant recovery in the market. While closings above the 9665-9715 band may be a sign of limited optimism, it is evaluated that the index may weaken again if it falls below these levels.Stocks That Gained the Most:DAGHL → increased by 9.99% to 27.30 TL.BULGS → increased by 9.97% to 21.06 TL.GMTAS → increased by 9.94% to 11.61 TL.SEGY0 → increased by 9.89% to 5.00 TL.KSTUR → increased by 9.89% to 3,835.00 TL.Stocks That Decreasing the Most:ESCOM → decreased by -93.08% to 3.40 TL.TDGYO → decreased by -9.97% to 13.72 TL.ESEN → decreased by -9.96% to 35.42 TL.NATEN → decreased by -9.95% to 66.05 TL.ICUGS → decreased by -8.62% to 17.39 TL.Companies with the Highest Market Value on Borsa IstanbulQNB Finansbank (QNBTR) → 880.21 billion TL market value, 274.00 TL per share price, +4.28% increase.Türkiye Garanti Bankası (GARAN) → 534.24 billion TL market value, 126.7 TL per share price, -0.39% decrease.Turkish Airlines (THYAO) → 435.74 billion TL market value, 306.25 TL per share price, -3.01% decrease.Aselsan Elektronik Sanayi (ASELS) → 410.4 billion TL market value, 93.50 TL per share price, +3.89% increase.Koç Holding (KCHOL) → 387.49 billion TL market value, 153.1 TL per share price, +0.20% increase.Precious Metals and Currency PricesGold: 3459 TLSilver: 36.63 TLPlatinum: 1116 TLDollar: 36.52 TLEuro: 37.97 TLHoping to meet again tomorrow with the latest news!Author: Besim Şen
Bitwise has registered the Aptos ETF in Delaware.
Important developments continue to occur in the cryptocurrency market. Finally, Bitwise, one of the leading asset management companies, has registered an ETF (Exchange Traded Fund) for Aptos (APT) in Delaware. This development has created a new wave in the cryptocurrency market and has also attracted the attention of investors.Bitwise and Aptos ETFAlthough this ETF registered by Bitwise in Delaware is not yet an official SEC application, it shows that the company is preparing for an SEC approval in the future. Bitwise has previously created funds for crypto assets such as Bitcoin and Ethereum and has managed to attract the attention of large investors.The registration of the Aptos ETF means that institutional investors will have easier access to APT. If SEC approval is received, this ETF will be a new investment vehicle for individual and institutional investors. It can also accelerate the adoption of Aptos and increase its liquidity.Aptos (APT) Price ImpactBitwise's ETF registration created an immediate movement in the Aptos price. With the news, the APT price increased by approximately 10%. This situation once again showed how sensitive investors are to the impact of ETFs on cryptocurrency prices. Similar price increases were previously seen in Bitcoin spot ETF approvals.Although it is not clear whether the ETF will receive SEC approval in the future, this development is considered a factor that increases Aptos' long-term potential.SEC's Attitude and Market ExpectationsThe US Securities and Exchange Commission (SEC) is known for its recent tough regulations and lawsuits against the crypto sector. However, in recent weeks, it has been observed that the SEC has closed some important investigations and has begun to take a more flexible stance towards the sector. The closure of investigations into major projects such as Gemini, OpenSea and Uniswap is interpreted as a signal of a change in the SEC's approach.In this context, whether an SEC application will be made for the Aptos ETF in the future and what attitude the regulatory body will take are matters of great curiosity.Bitwise's registration in Delaware for the Aptos ETF has created excitement in the crypto market and increased investors' interest in APT. If the ETF is approved by the SEC, a major increase in liquidity and more institutional investor interest are expected for Aptos.However, for now, the process is only in the registration phase and official applications and regulatory approvals are not yet clear. Investors need to follow the process carefully and observe how the SEC will approach in the future.
BitMEX is Preparing for Sale: The Crypto Exchange is Looking for Buyers
BitMEX, one of the leading derivatives exchanges in the cryptocurrency world, has entered the sale process. According to the information provided by CoinDesk, it is stated that BitMEX is looking for a new buyer and has started negotiations with potential investors for this process.BitMEX Sale: Why Did It Come to the Agenda?BitMEX was once known as one of the biggest players in the crypto derivatives market. However, in recent years, it has lost its former power due to regulatory pressures and market competition. It is stated that the company has entered a sale process in order to continue its growth and operations. According to sources, the current owners of the exchange may transfer the platform if they receive a suitable offer.BitMEX's History and ChallengesBitMEX is known especially for its leveraged transactions and high-volume derivatives products. However, the lawsuits filed by US regulators and management changes in 2020 shook the platform's position in the market. Although the exchange continued its operations by overcoming legal problems, it lost market share to major competitors such as Binance and OKX.How Could the Sale Affect the Crypto Market?The possible sale of BitMEX could create significant movement in the crypto sector. The identity of the company that will buy the exchange will directly affect the platform's future strategy. If a large traditional financial institution or a strong crypto company buys BitMEX, it may be possible for the platform to regain its former power.On the other hand, the uncertainty of the sale process raises questions for existing BitMEX users. Users are advised to closely follow developments regarding the future of the exchange.Which companies the company is in talks with and under what conditions the sale will take place will become clear in the coming days. Observing the effects of this process on the crypto market may be critical for investors.
Surprising Message from GİB to Crypto Investors
Many cryptocurrency investors have encountered surprising messages from the Revenue Administration (GİB). The message states that the individuals concerned have been detected to have "earned rental income from housing." However, many people who receive this message state that they have not earned any rental income, but have only made transfers from cryptocurrency exchanges to their bank accounts.Wrong Categorization?According to initial investigations, it has been revealed that transfers made from cryptocurrency exchanges to banks have been incorrectly categorized in the GİB system and appear as "rental income." This error has caused confusion for many investors.User Reactions and ConcernsInvestors who receive these messages are concerned about being subject to an incorrect assessment in terms of tax liability. It is requested that the situation be corrected so that there are no errors in tax declarations. Although no official statement has been made yet, it is thought that this situation may be a technical error.Developments AwaitedThe Revenue Administration is expected to make a correction regarding this issue. In this process, it is considered important for investors to follow the situation and take official statements into consideration.
Strategic Bitcoin Reserve Move from the Texas Senate
The Texas Business and Commerce Committee has unanimously approved a bill that would create a Strategic Bitcoin Reserve. Known as Senate Bill 21, the bill aims to increase the state’s financial resilience and protect it from economic volatility. The bill will now undergo further consideration in the Senate General Assembly.Why is the Bitcoin Reserve on the Agenda?The bill is based on the idea of considering Bitcoin as a strategic asset to strengthen Texas’ economic stability. Supporters argue that a Bitcoin reserve would increase the state’s financial diversification and protect against inflation. Given factors such as global economic uncertainty and the depreciation of the dollar, it is thought that digital assets could be used as a reserve tool.How Does Texas Approach Cryptocurrencies?Texas has been noted for its crypto-friendly policies in recent years. Many Bitcoin mining companies are moving to Texas due to its favorable energy costs and business-friendly regulations. If the Strategic Bitcoin Reserve bill is passed, Texas could become one of the first states in the U.S. to have a crypto reserve.What Does the Future Hold?After the Senate General Assembly debates, it will be clear whether the bill will become law. If passed, it could open the door for digital assets to play a larger role in Texas’ financial structure. However, the details of the bill’s implementation and potential impacts will become clearer over time.We will continue to share updates as more developments occur regarding crypto markets and US states’ crypto policies.
SEC Dismissed the ConsenSys Case
The U.S. Securities and Exchange Commission (SEC) has agreed to drop its lawsuit against Ethereum infrastructure company ConsenSys. The SEC’s decision is considered a significant development for the cryptocurrency industry.Why Was the Lawsuit Filed?In a lawsuit filed against ConsenSys in June 2024, the SEC alleged that certain features of the company’s popular wallet service MetaMask violated securities laws. The lawsuit alleged that MetaMask’s staking services and integration with decentralized finance (DeFi) applications were specifically linked to unregistered securities transactions.SEC Backs DownConsenSys waged a determined legal battle against the SEC’s claims and filed a lawsuit against the SEC in April 2024 in an attempt to block Ethereum from being classified as a security. As a result of this fight, the SEC reportedly stopped its investigation into Ethereum. Then, as of February 27, 2025, the SEC decided to drop the lawsuit against ConsenSys.What Does It Mean for the Crypto Sector?This step back by the SEC is considered a positive development in the cryptocurrency markets. Recently, the SEC has also started to drop the lawsuits it filed against other major crypto companies such as Uniswap, Robinhood Crypto, and Gemini. This indicates that the regulatory environment is changing and a more collaborative process may emerge.Statement from ConsenSysConsenSys founder and Ethereum co-founder Joseph Lubin announced that they have reached an agreement in principle with the SEC and that the formal process has been initiated to close the case. Lubin said, "We were determined to fight this case to the end, but we welcome this outcome."The SEC's decision to drop the ConsenSys case strengthens hopes that regulatory clarity may increase for the crypto sector. How the interaction between regulators and the industry will shape and how similar cases will play out in the future will continue to be closely monitored in the crypto world.
SEC Dropped the Coinbase Case Definitively
The U.S. Securities and Exchange Commission (SEC) has officially announced that it has dropped its lawsuit against Coinbase. This decision, which has had a major impact in the crypto world, indicates a significant change in the SEC's regulatory approach to the sector.How Did the SEC and Coinbase Lawsuit Begin?The SEC filed a lawsuit in June 2023, claiming that Coinbase had engaged in unregistered securities transactions. This lawsuit increased regulatory uncertainties regarding cryptocurrencies in the U.S. and became a critical battleground for the sector. The SEC claimed that Coinbase's staking services and some crypto assets listed on its platform were considered securities.Why Did the SEC Back Down?There have been significant changes in the regulatory environment for the cryptocurrency sector in the U.S. in recent months. The Crypto Task Force, established on January 21, 2025, and the new administration's more flexible crypto policies paved the way for the SEC to drop the Coinbase lawsuit. This decision by the SEC is seen as a positive step towards reducing regulatory uncertainty and establishing clearer rules in the industry.Statement from CoinbaseCoinbase CEO Brian Armstrong welcomed the SEC’s decision and said, “A major mistake has been corrected. Coinbase has always acted in accordance with the law and will continue to do so.” The company has long emphasized that the crypto sector needs clear regulatory frameworks.Impact of the Dropped Case on Crypto MarketsThis decision by the SEC has created a positive atmosphere in the crypto market. With the decrease in regulatory pressure, investor confidence has increased, and hopes that the sector may have clearer rules in the future have been strengthened. It is also said that the SEC is reviewing its cases against other major crypto platforms such as Binance and may take similar steps.The SEC’s decision to drop the Coinbase case is seen as an important step towards a more collaborative and clear regulatory framework in the crypto sector.
Bitcoin for America
A Critical Event That Will Shape the US’s Bitcoin StrategyBitcoin for America will play a critical role in shaping the US’s Bitcoin strategy as a special event to be held in Washington, DC on March 11. The event will be hosted by Senator Cynthia Lummis, with Senator Saylor also announcing her participation as an honorary co-host. The event will bring together senior executives, public officials, and policy experts to discuss America’s digital asset strategy.“I am so excited to announce that I will be the honorary co-host of Bitcoin for America! Be sure to tune in on March 11. ₿Big things are coming. 🇺🇸,” Senator Saylor said on Twitter. This statement speaks to the importance of the event and the strong belief in the crypto industry.Purpose and Scope of the EventBitcoin for America aims to clarify the US’s strategic approach to Bitcoin. This event will be attended by regulators, leading figures in the financial sector, and policy experts, with important decisions expected to be made about the future of America’s digital asset policies. The event will be closed to members of the press, but selected sessions, such as Senator Saylor’s keynote, will be available to watch via livestream.Institutional and Political Support: What Does It Mean?Such events demonstrate that crypto assets are being embraced not only technologically, but also at a political and institutional level. The presence of important political figures such as Senator Lummis and Senator Saylor at the event demonstrates Bitcoin’s growing role in the US economy and financial system. This support could increase regulators’ and investors’ confidence in digital assets, paving the way for the crypto market to mature.Future Impacts of the EventBitcoin for America stands out as an important platform that will not only shape the US’s Bitcoin strategy, but will also influence regulatory approaches in the crypto sector. This event will:Regulatory Transparency: US regulators can set clearer policies regarding Bitcoin and the cryptocurrency market in general.Institutional Trust: Support from political figures can increase institutional investor confidence in the crypto sector, contributing to increased stability and liquidity in the market.Strategic Steps: The event can be a milestone for future regulations and strategic investments, creating significant opportunities for both individual and institutional investors.The Bitcoin for America event is considered a turning point in US digital asset strategies. This event, which Senator Saylor excitedly announced, will reshape America’s Bitcoin and general cryptocurrency policies, accelerate regulatory reforms, and strengthen investor confidence. The event not only provides a platform for strategic steps, but also sheds light on efforts to strengthen crypto reserves. Recently, the SEC and leading exchanges have taken significant steps to protect and increase crypto reserves, which is critical to the stability and long-term reliability of digital assets. Following this special event that will take place in Washington DC on March 11th will provide important clues about the future of the crypto world.
