You can find today’s “Daily Market Recap with JrKripto,” where we compile the most important daily developments in global and local markets, below.Let’s analyze the overall market conditions together and take a look at the latest evaluations.
Bitcoin (BTC) is currently trading at $87,400. The $79,100 – $80,763 range stands out as a strong support zone. BTC held this level, surpassed the $85,600 resistance, and continued its upward trend. If the upward movement persists, the $90,700 level will be a critical resistance point. However, in the case of a pullback, $85,600 will be followed as the first support level.
Ethereum (ETH) is trading at $2,020. The $1,900 level is being maintained as a strong support, and ETH received an upward reaction from this area. After breaking the $2,000 resistance, the bullish momentum accelerated, with the next target set at $2,250. If this level is breached, the price may accelerate toward $2,534 and $2,721. On the downside, the $2,000 support will be monitored. Closures below this level could bring the $1,900 support back into focus.
Crypto News
- Fidelity, a $6 trillion asset manager, will launch its own crypto stablecoin.
- Injective announced a partnership with Google Cloud.
- The state of Wyoming will launch its own stablecoin this year.
- GameStop to issue $1.3 billion in bonds to purchase Bitcoin.
- Trump: "I will be very fair and kind on April 2."
Top Gainers in Cryptocurrencies
- ZETA → up 23.3%, now at $0.40336
- NTGL → up 9.5%, now at $0.00109613
- SAFE → up 9.1%, now at $0.512805
- SUI → up 8.9%, now at $2.78
- FLUID → up 8.7%, now at $5.60
Top Losers in Cryptocurrencies
- SATS → down 12.3%, now at $0.02678821
- GIGA → down 11.6%, now at $0.02047937
- AI16Z → down 11.5%, now at $0.19139784
- CHEEMS → down 11.2%, now at $0.00000171
- HYPE → down 9.9%, now at $14.45
Other Data
Dominance:
- Bitcoin: 61.68% ▼ 0.17%
- Ethereum: 8.69% ▲ 0.07%
Daily Net ETF Flows
- BTC ETFs: $89.60 Million
- ETH ETFs: -$5.90 Million
Key Data to Watch Today
15:30 – USA | Gross Domestic Product (GDP) (quarterly) (Q4)
- Forecast: 2.3%
- Previous: 3.1%
15:30 – USA | Initial Jobless Claims
- Forecast: 225K
- Previous: 223K
Global Markets
U.S. stock indices ended the day lower, losing the optimism that had prevailed since the beginning of the week after new announcements regarding tariffs. Former U.S. President Donald Trump’s declaration of a 25% tariff on cars produced outside the U.S. decreased investor risk appetite. Nasdaq dropped 2.04%, S&P 500 fell 1.12%, and the Dow Jones lost 0.31%.
By sector, consumer staples (1.42%), infrastructure (0.70%), energy (0.60%), and real estate (0.52%) performed positively, highlighting demand for defensive sectors. However, technology (-2.46%), telecommunications (-2.04%), and consumer discretionary (-1.67%) saw the biggest losses.
Today, the final estimate for Q4 U.S. growth, weekly jobless claims, and pending home sales will be announced. The U.S. economy grew 2.3% annually in Q4, with the main contribution from consumer spending. Housing investments and public spending also supported growth. Net exports contributed 0.12 points to GDP.
Asian markets are trading mixed, while European markets are expected to start the day in negative territory.
Top Companies by Market Cap and Share Price
- Apple (AAPL) → $3.33T market cap, $221.53/share, ▼ 0.99%
- Microsoft (MSFT) → $2.90T market cap, $389.97/share, ▼ 1.31%
- NVIDIA (NVDA) → $2.78T market cap, $113.76/share, ▼ 5.74%
- Amazon (AMZN) → $2.13T market cap, $201.13/share, ▼ 2.23%
- Alphabet (GOOG) → $2.02T market cap, $167.14/share, ▼ 3.27%
Borsa Istanbul
Borsa Istanbul fell below the 9,700 level yesterday, witnessing a capital outflow of approximately 500 million TL. Momentum in the market remains weak, and political developments continue to influence volatility, which is expected to stay high.
Today, markets will monitor the Central Bank of Turkey’s reserve data and foreign investor activity in stocks and bonds at 14:30. It’s estimated that around $25 billion in reserves were used during recent currency fluctuations. A larger-than-expected reserve loss would negatively impact TL assets, while a smaller loss could be seen positively.
On the global side, markets are watching U.S. GDP, jobless claims, and pending home sales data. Additionally, a U.S. Congressional Budget Office (CBO) warning that the country may run out of funds to pay its debt by August or September is affecting global risk appetite. Turkey’s 5-year CDS rose to 308 basis points following this.
According to the Central Bank’s March inflation expectations, market participants' 12-month inflation forecastdropped to 24.6% (-0.7 pts), real sector forecast declined to 41.1% (-0.8 pts), while household expectations rose slightly to 59.3% (+0.1 pts).
In the bond market, the 2-year yield increased to 44.6% (+1.6 pts) and the 10-year yield to 32.4% (+1.1 pts).
Today, Turkey's foreign trade and unemployment data for February will be released. According to preliminary data from the Ministry of Trade, exports in February declined 1.5% YoY to $20.8 billion, while imports rose 3.8% YoY to $28.9 billion. Consequently, the trade deficit widened by $1.4 billion YoY to $8.2 billion.
Yesterday, Borsa Istanbul saw a bearish session. While bank stocks experienced profit-taking, gold mining stocks stood out positively. A slight upward bias is expected today.
The BIST 100 index tested 9,750 during the day and closed at 9,650. Technically, the 9,784 – 9,895 range is the nearest resistance, and if breached, the index could move toward 9,990 and 10,197. Support levels are 9,594 – 9,451, with a potential retest of 9,221 – 8,870 if these break.
Upcoming critical data includes BDDK’s banking sector data on April 2 and March inflation figures on April 3, both likely to influence market direction.
Top Gainers on Borsa Istanbul
- GEDZA → ▲ 10.00%, to 29.04 TL
- YBTAS → ▲ 10.00%, to 226,030.00 TL
- VSNMD → ▲ 9.99%, to 191.60 TL
- INVES → ▲ 9.98%, to 232.50 TL
- DERHL → ▲ 9.97%, to 45.68 TL
Top Losers on Borsa Istanbul
- CASA → ▼ 10.00%, to 62.10 TL
- KENT → ▼ 10.00%, to 765.00 TL
- ATEKS → ▼ 9.98%, to 73.10 TL
- DYOBY → ▼ 7.97%, to 23.56 TL
- DURDO → ▼ 7.29%, to 3.94 TL
Top Companies by Market Cap on Borsa Istanbul
- QNB Finansbank (QNBTR) → 1.17 trillion TL, 380.00 TL/share, ▲ 8.57%
- Aselsan (ASELS) → 528.96 billion TL, 116.50 TL/share, ▲ 0.43%
- Garanti Bank (GARAN) → 500.64 billion TL, 120.80 TL/share, ▲ 1.34%
- Turkish Airlines (THYAO) → 427.45 billion TL, 311.75 TL/share, ▲ 0.65%
- Koç Holding (KCHOL) → 419.69 billion TL, 164.10 TL/share, ▼ 0.85%
- Precious Metals and Exchange Rates
- Gold: 3,716 TL
- Silver: 41.26 TL
- Platinum: 1,197 TL
- USD/TRY: 37.99
- EUR/TRY: 41.15
See you again tomorrow with the latest updates!
