You can find today’s edition of 'Daily Market with JrKripto' below, featuring a roundup of the most important developments from both global and local markets. Let’s take a closer look at the overall market conditions and the latest insights together.
Bitcoin formed a narrow trading range over the weekend. With the start of the new week, BTC moved upward, climbing as high as $106,600. The $106,500–$107,300 range remains a key resistance zone. Despite ongoing uncertainty in global markets, Bitcoin is showing strong bullish momentum. If buying pressure continues at this pace, a breakout above resistance could pave the way toward the next target at $108,900. On the downside, holding above the $105,000 level is a positive sign. The next major support lies at $103,900.
As noted in our technical analysis section, Ethereum continues to trade within an ascending channel. Currently retesting a key resistance area, ETH has entered the week with strong buying momentum. The $2,580–$2,630 range remains a crucial resistance zone, with Ethereum trading around $2,620 at the moment. A breakout above this level could open the path toward the upper boundary of the channel, around $2,900. In case of a pullback, initial support is seen at $2,580, followed by a secondary support level at $2,500.
Crypto News
- VanEck filed an updated version of its spot Solana ETF S-1 application.
- The SEC approved the Trump Media filing, opening the door to billions of dollars in Bitcoin purchases.
- Trump: Iran and Israel must reach an agreement.
- Binance Futures will launch AAVEUSDC and UNIUSDC futures contracts.
Cryptocurrencies
Top Gainers:
- KTA → Increased by 15.0% to $0.99917686.
- CHEX → Increased by 14.7% to $0.24206435.
- JTO → Increased by 14.1% to $2.30.
- SYRUP → Increased by 14.1% to $0.52734284.
- TKX → Increased by 13.0% to $32.38.
Top Decliners:
- XSOLVBTC → Declined by 7.3% to $100,147.47.
- TRIBE → Declined by 6.3% to $0.42285928.
- RVN → Declined by 4.6% to $0.01914205.
- PI → Declined by 2.0% to $0.60475777.
- GT → Declined by 1.7% to $16.61.
Fear Index:
- Bitcoin: 61
- Ethereum: 52
Dominance:
- Bitcoin: 64.58% ▼ 0.18%
- Ethereum: 9.55% ▲ 0.71%
Daily Total Net ETF Inflows
- BTC ETFs: $301.70 million
- ETH ETFs: -$2.10 million
Global Markets
Israeli Prime Minister Netanyahu announced on Friday that they had launched an attack on Iran and said that the attacks would continue until the threat was eliminated. Netanyahu's threat is interpreted as Iran being very close to producing nuclear weapons. Attacks between Iran and Israel continued over the weekend. These developments in the Middle East have significantly heightened global tensions.
This rising geopolitical tension naturally triggered selling pressure across global markets. While gold and oil prices surged, equity markets experienced minor declines. The VIX index climbed 2.8 points to 20.8, signaling growing anxiety among investors.
Trump stated that intensive negotiations for peace are underway and that we may see positive results soon. This week, all eyes will be on developments between Iran and Israel.
In financial markets, the Fed, the Bank of England, and the Central Bank of the Republic of Turkey's interest rate decisions will be closely monitored this week. No changes in interest rates are expected at any of these meetings. Another important topic at these meetings will be economic forecasts for the future.
Most Valuable Companies and Stock Prices
- Microsoft (MSFT) → Market capitalization of $3.53 trillion, share price of $474.96, down 0.82%.
- NVIDIA (NVDA) → Market capitalization of 3.46 trillion USD, share price of 141.97 USD, down 2.09%.
- Apple (AAPL) → Market capitalization of 2.93 trillion USD, share price of 196.45 USD, down 1.38%.
- Amazon (AMZN) → Market capitalization of $2.25 trillion, share price of $212.10, down 0.53%.
- Alphabet (GOOG) → Market capitalization of $2.13 trillion, share price of $175.88, down 0.62%.
Borsa Istanbul
Today, important data for the Turkish economy will be announced. The current account deficit, retail sales, number of salaried employees for April, and central government budget data for May will be monitored. In March, the current account deficit stood at $4.1 billion, while preliminary figures for April suggest it may have widened to $7.7 billion. A rising current account deficit typically signals increased demand for foreign currency.
Additionally, the Central Bank of Turkey (CBRT) will publish its June Market Participants Survey today. In the previous survey conducted in May, the inflation expectation was 30.35%, while the CBRT’s official forecast remained at 24%.
There is also another development that could strengthen the Central Bank's position: TCMB has extended its currency swap agreement with the People's Bank of China for another three years. The agreement allows for transactions up to 189 billion TL.
On the stock market front, rising tensions between Iran and Israel have caused significant unease. The BIST100 index closed Friday at around 9,300 points, down 1.8%.
As the new week begins, markets will be closely watching both global geopolitical developments and upcoming central bank interest rate decisions.
Top Market Capitalization Companies on Borsa Istanbul
- QNB Finansbank (QNBTR) → Market capitalization of 858.44 billion TL, share price of 254.50 TL, down 0.68%.
- Aselsan Elektronik Sanayi (ASELS) → Market value of 645.24 billion TL, share price of 144.80 TL, up 2.33%.
- Türkiye Garanti Bankası (GARAN) → Market value of 492.24 billion TL, share price of 117.20 TL, no change.
- Koç Holding A.Ş. (KCHOL) → Market value of 368.72 billion TL, share price of 145.30 TL, and a decrease of 0.07%.
- Enka İnşaat ve Sanayi A.Ş. (ENKAI) → Market value of 366.66 billion TL, share price of 61.60 TL, 1.52% decrease.
Precious Metals and Currency Prices
- Gold: 4344 TL
- Silver: 46.20 TL
- Platinum: 1568 TL
- Dollar: 39.46 TL
- Euro: 45.66 TL
We look forward to bringing you the latest updates again tomorrow!
