You can find today’s edition of “Daily Market with JrKripto,” where we compile the most important developments from global and local markets, below. Let’s analyze the general market conditions together and review the latest evaluations.
Bitcoin (BTC) is currently trading at $104,700. The upward trend that started at $75,930 has continued strongly after breaking through the resistance levels of $101,059 and $104,000. Most recently, BTC is priced above the $104,629 resistance. If it maintains permanence above this level, the next targets appear to be $108,000 and $109,850. In the event of a pullback, $104,629 now serves as the first support level. Below that, $101,059 and subsequently $96,115 can be followed as support. While the overall trend remains positive, holding above $104,629 is critical for the continuation of the rise.
Ethereum (ETH) is currently trading at $2,480. After starting its rise from the $1,486 level, it broke the $2,453 resistance and tested $2,595 before pulling back. At present, ETH is trying to hold above the $2,453 level. If this support holds, $2,595 and $2,981 could again become targets. However, if it drops below $2,453, the levels of $2,095 and $1,790 should be watched as support levels. Maintaining above $2,453 is important for ETH to preserve its positive outlook.
Crypto News
- India’s Supreme Court stated that cryptocurrencies should be regulated rather than banned.
- Coinbase’s customer data theft will be investigated by the DOJ.
- The SEC has delayed its decision on Fidelity’s spot Solana ETF application.
- Trump said his meeting with Putin went very well and that ceasefire negotiations between Russia and Ukraine would begin immediately.
- Putin: "My meeting with Trump was very meaningful. It was very informative and beneficial."
- JPMorgan CEO Jamie Dimon announced that the company will not offer Bitcoin custody services but will allow customers to purchase Bitcoin.
- A class action lawsuit has been filed against MicroStrategy and its executives for allegedly making misleading statements about their Bitcoin strategy.
- The Central Bank of Russia plans to lift restrictions on financial instruments linked to Bitcoin and cryptocurrencies.
Top Gainers:
- KTA → up 31.0%, reached $0.80163842
- LAUNCHCOI → up 21.8%, reached $0.24297025
- AAVE → up 19.7%, reached $261.82
- SYRUP → up 15.9%, reached $0.36833722
- SPX → up 11.8%, reached $0.72499049
Top Losers:
- PYTH → down 8.3%, dropped to $0.13006234
- NEIRO → down 5.6%, dropped to $0.00053275
- AMP → down 5.2%, dropped to $0.00463428
- IP → down 3.5%, dropped to $4.58
- SFP → down 3.1%, dropped to $0.54123572
Fear & Greed Index:
- Bitcoin: 72 (Greed)
- Ethereum: 61 (Greed)
Dominance:
- Bitcoin: 63.80% ▼ 0.13%
- Ethereum: 9.33% ▲ 0.38%
Daily Total Net ETF Inflows:
- BTC ETFs: $667.40 million
- ETH ETFs: $13.70 million
Global Markets
Volatility in global markets continues, though signs of recovery are evident this morning. Following a 90-day trade agreement between the U.S. and China, tariff-related concerns have taken a backseat for now. Meanwhile, credit rating agency Moody’s downgraded the U.S. credit rating by one notch to Aa1 for the first time in 108 years, citing high debt and widening deficits. The outlook was revised from “negative” to “stable.”
Despite the pressure from the downgrade, a constructive two-hour meeting between President Donald Trump and Russian President Vladimir Putin, with calls to begin peace talks for the Russia-Ukraine war, helped limit market fallout.
Markets started the day with selling pressure due to Moody’s move but later recovered thanks to buying activity. Stock and bond markets ended the day flat to slightly positive. The U.S. 10-year Treasury yield tested 4.56% during the day but fell to 4.45% on increased buying.
Out of the 11 major sectors in the S&P 500, 7 closed in positive territory. The top-performing sectors were healthcare (+0.96%), consumer staples (+0.42%), and industrials (+0.38%). Energy (-1.55%) and consumer discretionary (-0.27%) were the weakest.
New York Fed President John Williams and Atlanta Fed President Raphael Bostic stated there were no short-term rate cut expectations. Meanwhile, China’s central bank (PBOC) cut its policy rate by 10 basis points for the first time in 7 months to support markets. This move was welcomed in Asia, and European markets are expected to start the day positively.
Most Valuable Companies & Stock Prices
- Microsoft (MSFT) → $3.41T market cap, stock at $458.87, up 1.01%
- NVIDIA (NVDA) → $3.31T market cap, stock at $135.57, up 0.13%
- Apple (AAPL) → $3.12T market cap, stock at $208.78, down 1.17%
- Amazon (AMZN) → $2.19T market cap, stock at $206.16, unchanged
- Alphabet (GOOG) → $2.03T market cap, stock at $167.87, up 0.26%
Borsa Istanbul
After climbing from the 9,000 level to 9,800, the BIST 100 index remains in search of direction. Toward the week’s close, limited capital inflows replaced recent outflows, leading to a recovery trend—especially driven by the banking sector. Today, the effort to hold above the 9,600 level is expected to continue.
While today’s data calendar is relatively quiet, the Inflation Report to be released by the CBRT on Thursday will be a key highlight for monetary policy direction. Turkey’s 5-year CDS started the day at 295 basis points, signaling relatively balanced risk perception.
According to CBRT’s May Market Participants Survey, year-end inflation expectations rose slightly from 30% to 30.35%. The end-2026 forecast is 20.6%, 24-month forward expectation is 17.8%, and 5-year forward is 11.2%, showing little change from the previous month.
Bloomberg HT’s Consumer Confidence Preliminary Index dropped by 1.8% in May to 70.90, signaling a slight decline in consumer confidence.
The BIST 100 index finished last week with a 3.0% gain, mainly due to strong demand for banking stocks. The average weekly return of bank shares was 6.9%. Globally, the highlight was the announcement that Russia-Ukraine peace negotiations would begin urgently following the Trump-Putin meeting.
This week’s data calendar includes:
- Today: Consumer confidence index
- Thursday: Real sector and sectoral confidence indices, capacity utilization rate
- Friday: Sectoral inflation expectations
The focus is clearly on Thursday’s Inflation Report.
Technically, the BIST 100 tested 9,516 during the day and closed at 9,668. The 9,475–9,580 range remains a key support zone. Staying above these levels suggests continued upward movement. A break above 9,740–9,760 could bring the 9,895 resistance level back into play. However, falling below the 9,475–9,580 band could trigger renewed weakness.
- Key Support Levels: 9,490/9,475, 9,230, 9,044
- Key Resistance Levels: 9,740/9,760, 9,895, 9,953
Highest Market Cap Companies on Borsa Istanbul:
- QNB Finansbank (QNBTR) → 901.15B TL market cap, stock at 267.00 TL, down 0.74%
- Aselsan (ASELS) → 632.02B TL market cap, stock at 130.80 TL, down 5.63%
- Garanti Bank (GARAN) → 475.86B TL market cap, stock at 114.00 TL, up 0.62%
- Turkish Airlines (THYAO) → 404.34B TL market cap, stock at 290.25 TL, down 0.94%
- Koç Holding (KCHOL) → 403.21B TL market cap, stock at 158.00 TL, down 0.63%
Precious Metals and Exchange Rates
- Gold: 4,006 TL
- Silver: 39.87 TL
- Platinum: 1,226 TL
- Dollar: 38.83 TL
- Euro: 43.72 TL
See you again tomorrow with the latest news!
