You can find today’s “Daily Market with JrKripto,” where we’ve compiled the most important developments in global and local markets, below. Let’s analyze the general market conditions together and take a look at the latest evaluations.
Bitcoin (BTC) is currently trading at $104,300. Following a strong uptrend that started from the $75,930 level, BTC continued its rise by breaking through the $101,059 resistance and then the $104,000 level. If this upward move continues, the next potential targets are $108,000 and $109,850. However, in the event of short-term profit-taking, $101,059 should be monitored as the first support level. If BTC falls below this level, the $96,115 and $94,570 support zones could come into play. To maintain the strength of the trend, it is important for BTC to stay above $101,000.
Ethereum (ETH), on the other hand, has risen to the $2,550 level. The strong rally that started from the $1,486 support has accelerated after surpassing the $2,453 resistance. If this uptrend continues, $2,595 and subsequently $2,981 could be the next resistance targets. In case of a potential correction, $2,453 has now become the first support level. If this level is breached, the $2,095 and $1,790 support levels may come back into focus. To sustain the positive outlook for ETH, holding above $2,453 is crucial.
Crypto News
- Trump announced that he will sign an executive order to lower drug prices.
- China will reduce tariffs on U.S. goods from 125% to 10% for 90 days!
- The U.S. has reduced its tariffs on Chinese goods from 145% to 30%.
- Zelensky: I will wait for Putin in Turkey on Thursday.
“I expect a full, permanent ceasefire starting tomorrow.”
- The White House stated that more trade deals might be announced this week.
- OpenAI is in talks with Microsoft for new funding and a potential future IPO.
Top Gainers:
- MOODENG → Up 65.5% to $0.26478145
- PI → Up 56.8% to $1.54
- TOSHI → Up 36.8% to $0.00085043
- WIF → Up 36.5% to $1.22
- GOAT → Up 35.8% to $0.22228838
Top Losers:
- SYRUP → Down 8.7% to $0.27339711
- DEXE → Down 5.5% to $13.23
- BORG → Down 5.0% to $0.24050204
- QGOLD → Down 3.2% to $3,221.53
- PAXG → Down 3.1% to $3,228.13
Fear Index:
- Bitcoin: 70 (Greed)
- Ethereum: 60 (Greed)
Dominance:
- Bitcoin: 62.93% ▼ 0.36%
- Ethereum: 9.22% ▼ 0.49%
Daily Net ETF Inflows:
- BTC ETFs: $321.40 Million
- ETH ETFs: $17.60 Million
Global Markets
This morning, global stock markets are trading positively amid optimism stemming from progress in U.S.-China trade negotiations and a ceasefire between Pakistan and India. Statements made after weekend talks between the U.S. and China indicate that the trade war, which has caused uncertainty in the markets since the beginning of the year, may be nearing resolution. U.S. President Donald Trump announced on social media that significant progress has been made between the two countries, which would benefit both sides. He also stated that drug prices would be reduced by between 30% and 80%.
U.S. stock indices closed flat on the last trading day of the week (Friday), but futures are trading with strong buying interest this morning due to the positive tone of the talks. On the economic data front, the Consumer Price Index (CPI) for April, due on Tuesday, and the Producer Price Index (PPI), scheduled for Thursday, will be in focus. In corporate earnings, Cisco Systems on Wednesday and Walmart and Alibaba on Thursday will be watched closely. Geopolitically, the ceasefire between Pakistan and India has helped reduce regional risks. Asian markets have started the week positively, and European markets are also expected to open with strong gains. Overall, global markets are showing a positive trend this week thanks to growing trade optimism and easing geopolitical risks.
Most Valuable Companies and Stock Prices:
- Microsoft (MSFT) → $3.26T market cap, $438.73 per share, up 0.13%
- Apple (AAPL) → $2.97T market cap, $198.53 per share, up 0.53%
- NVIDIA (NVDA) → $2.84T market cap, $116.65 per share, down 0.61%
- Amazon (AMZN) → $2.05T market cap, $193.06 per share, up 0.51%
- Alphabet (GOOG) → $1.86T market cap, $154.38 per share, down 0.88%
Borsa Istanbul
According to the Industrial Production Index (IPI) data released for March, seasonally and calendar-adjusted industrial production increased by 3.4% compared to the previous month. However, the unadjusted raw data showed a 2.7% year-on-year decline. The main reason for this decline is that March this year had 1.5 fewer working days compared to last year. Such calendar differences can lead to distortions in annual comparisons. In the calendar-adjusted annual data, industrial production increased by 2.5%, indicating notable monthly gains in some sectors, though this increase was not widespread across all sectors.
Domestically, key data such as retail sales volume, turnover indices, and construction cost index will be announced today. Additionally, tomorrow, the Treasury will hold bond auctions indexed to TLREF (Turkish Lira Overnight Reference Rate) and CPI (Consumer Price Index), both with 4-year maturities. The current account balance, budget balance, and CBRT Market Participants Survey, which will be released this week, will also be closely monitored for insights into the economic outlook.
The BIST-100 index ended last week with a 2.4% gain. As the new week begins, a positive outlook is forming, supported by diplomatic developments. In particular, the announcement of a meeting to be held in Istanbul on Thursday for Russia-Ukraine peace talks could positively impact Turkey's risk premium if the process proceeds well. On the economic front, Treasury and Finance Minister Mehmet Şimşek is expected to meet with domestic investors at an investment conference organized by Ak Yatırım following his contacts with international investors.
From a technical perspective, the BIST-100 index received support at the 9232 level during Friday’s intraday pullback and closed at 9391. Technically, the 9044 level remains a strong support zone. If the recovery from this level continues, the next target could be the 9475–9580 resistance band. If this band is breached, the short-term positive outlook could strengthen further, possibly pushing the index toward the 9740–9895 range. On the downside, the 9044–8870 zone is a critical support area. A drop below this range could trigger a more pronounced decline toward 8725–8618 levels.
In general, Borsa Istanbul is expected to start the week with a bullish tone in parallel with the positive global market sentiment. However, the course of economic data and diplomatic developments should be monitored closely.
Most Valuable Companies on Borsa Istanbul:
- QNB Finansbank (QNBTR) → ₺883.56 Billion market cap, ₺269.25 per share, up 2.09%
- Aselsan Elektronik Sanayi (ASELS) → ₺680.35 Billion market cap, ₺141.2 per share, down 5.36%
- Türkiye Garanti Bankası (GARAN) → ₺425.04 Billion market cap, ₺104.4 per share, up 3.16%
- Turkish Airlines (THYAO) → ₺405.72 Billion market cap, ₺304.00 per share, up 3.40%
- ENKA İnşaat ve Sanayi (ENKAI) → ₺398.9 Billion market cap, ₺74.20 per share, up 9.04%
Precious Metals and Exchange Rates:
- Gold: ₺4080
- Silver: ₺39.91
- Platinum: ₺1225
- USD: ₺38.74
- EUR: ₺43.55
See you again tomorrow with the latest news!
