You can find our article “Daily Market with JrKripto” below, where we have compiled the most important developments in global and local markets. Let's analyze the general market conditions together and take a look at the latest assessments.
Bitcoin (BTC) is currently trading at $82,300. While the $79,100 - $80,763 area stood out as a strong support area, BTC continued to retreat, sagging below the $85,600 level. A drop below the $83.763 level may cause the price to decline to the $80.763 support. However, if the $85,600 level is exceeded again, it may be possible for the upward movement to continue to the $90,700 level.
Ethereum (ETH) is trading at $1,780. While the $1,800 region stands out as a critical support point, the price is trading below this level. A loss of the $1,780 level may increase the risk that ETH will retreat towards the $1,700 levels. On the other hand, in upward movements, exceeding the $1,900 level may help ETH recover towards the $2,000 level. A close above $2,000 could see ETH accelerate towards the $2,250, $2,534 and $2,721 levels.
Crypto News
Ethereum developers have postponed the Pectra upgrade to May 7.
Trump: Musk can stay as long as he wants, but he can leave in a few months, the work of the DOGE will continue after Musk leaves.
The SEC has accepted the application for the Fidelity Solana ETF.
WisdomTree Expands its Corporate Tokenized Fund Platform to Arbitrum, Avalanche, Base and Optimism
Senator Ted Cruz has introduced a bill to encourage entrepreneurs to use waste natural gas for mining.
Cryptocurrencies
Those Who Have Risen The Most:
SAROS →increased by 22.0% to $0.1487.
GRASS →jumped 21.5% to $1.89.
DGB → increased by 18.9% to $ 0.0108.
ZRO →jumped 15.7% to $2.93.
AIC → increased by 13.0% to $0.1638.
The Ones Who Fell The Most:
The PI → fell by 16.3% to $0.5118.
AERO → fell 13.2% to $0.3488.
WAL-MART fell 11.5% to $0.4983.
IBERA → fell 10.8% to $5.55.
BERA → fell 10.6% to $5.52.
Other Data:
Fear Index:
Bitcoin: 29 (Fear)
Dominans:
Bitcoin: 62.99% ▲ 0.28%
Ethereum: 8.29% ▼ 0.67%
Total Net ETF Inflows Per Day
BTC ETFs: -99.80 Million$
ETH ETFs: -3.60 Million$
Data to Follow Today
14:00 - USA
Average Hourly Earnings (Monthly) (March)
Expectation: 0.3%
Previous: 0.3%
Non-Agricultural Employment (March)
Expectation: 137K
Previous: 151K
Unemployment Rate (March)
Expectation: 4.1%
Previous: 4.1%
18:25 - USA
Fed Chairman Powell's Speech
Global Markets
US stock indexes experienced their steepest decline since March 2020 after the announcement of the new customs duties. The S&P 500 lost 4.84%, the Dow Jones lost 3.98%, the Nasdaq lost 5.97%, and a total of $3.1 trillion in market capitalization melted down. Part of the $1.03 trillion of this loss came from the shares of the "Magnificent Seven", which includes large technology companies. Recession expectations rose rapidly due to the possible effects of tariffs on the economy, and investors turned to US government bonds as a safe haven. the 10-year US bond rate fell below the 4.00% level, while 2-year bonds fell 15 basis points to close at 3.69%.
While the US tariffs have been met with retaliatory statements from countries such as the European Union, Canada and France, President Donald Trump has indicated that he may open the tariffs for negotiations. While uncertainty is increasing in global markets, the importance of employment data in the United States has increased even more. The Non-Agricultural Employment data, which will be announced at 15:30 TSI, is expected to show an increase of 137,000 per month. While Asian stock markets are negative, European stock markets are expected to start the day with a decline.
In the US, the ISM services index fell by 2.7 points to 50.8 in March and continued to remain in the expansion zone (expectation: 52.9). The business activity index increased by 1.5 points to 55.9, while the new orders index remained at 50.4 and decreased by 1.8 points compared to February. The employment index fell into contraction territory for the first time in the last six months, falling from 53.9 to 46.2. The supplier delivery time index decreased from 53.4 to 50.6, indicating that deliveries were slowing down. The price index continued to remain above the 60 level, but fell by 1.7 points on the month to 60.9.
Weekly applications for unemployment benefits in the United States fell by 6 thousand people to 219 thousand in the week ended March 29 (expectation: 225 thousand). The four-week average decreased by 1250 people to 223 thousand. Ongoing applications increased by 56 thousand people to 1.9 million and reached their highest level since November 2021. The insured unemployment rate increased from 1.2% to 1.3%.
The US foreign trade deficit decreased by $ 8 billion to $ 122.7 billion in February. Goods exports increased by $ 8.3 billion, while services exports fell by $ 400 million. Imports of goods decreased by $ 500 million, while imports of services increased by $ 500 million.
While the US influence continues on global stock markets, raising customs duties increases inflation and growth-oriented risks. These developments, which put pressure on the US economy in particular, increase uncertainty in the markets and significantly reduce investors' risk appetite.
The Most Valuable Companies and Their Stock Prices
Apple (AAPL) → market capitalization of $3.05T, price per share is $203.19, a decrease of 9.25%.
Microsoft (MSFT) → market capitalization of $2.77T, price per share is $373.11, a decrease of 2.36%.
NVIDIA (NVDA) → market capitalization of $2.48T, price per share is $101.80, a decrease of 7.81%.
Amazon (AMZN) → market capitalization of $1.89T, price per share is $178.41, a decrease of 8.98%.
Alphabet (GOOG) → market capitalization of $1.85T, price per share of $152.63, a decrease of 3.92%.
Borsa Istanbul
Although there was a positive opening in Borsa Istanbul yesterday, the BIST-100 index ended the day with a loss of 0.4% due to an accelerating sales wave abroad. While the weak momentum is expected to continue, technically the 9,420 and 9,300 levels can be viewed as support, while the 9,620 and 9,800 levels can be viewed as resistance. Today's US employment data will be important for the markets. While the weakness signals in the global economy increased, Turkey's 5-year CDS premium increased to 325 basis points. This increase in CDS reflects the impact of internal risks as well as global uncertainty caused by the United States.
Domestically, inflation in March was below expectations with a monthly rate of 2.46%. Annual inflation decreased by about 1 percentage point to 38.1%. Cumulative price growth reached 10.1% in the first quarter, while annual inflation fell by 6.3 percentage points in total due to the base effect. Core inflation indicators also recorded a significant decrease on an annual basis. The B index inflation fell to 37.0% and the C index inflation fell to 37.4%, the lowest level since December 2021. However, managed prices and exchange rate effects may put pressure on inflation in the future. Today, the real effective exchange rate data will be announced in Turkey and the Ministry of Commerce will publish the provisional foreign trade statistics for March.
The fact that inflation data came in below expectations yesterday caused short-term purchases in bank shares during the session. April May be disrupted by the inflation trend and global risks due to the expectation that the bank's shares lost more than 1%, while the BIST-100 index closed the day with a 0.4% decline. In the coming days, analyst forecasts for bank balance sheets, which will be announced at the end of the month, will have an impact on the market. On the last trading day of the week, BIST is expected to remain under selling pressure due to uncertainties in global markets.
The BIST-100 index followed a generally weak course yesterday and closed at 9,523. The weak trend continues despite short-term recovery efforts. while the 9.738-9.895 band is followed as a close resistance, a move towards the 10.197 level can be supported if these levels are exceeded. The fact that the index remains above the support zone of 9.473-9.415 creates limited optimism. However, if this region is sagging below, the 9.221-8.870 support region may be on the agenda again. Support levels 9.473/9.415 - 9.221 - 9.044 - 8.870, the resistance levels are 9.738 - 9.895 - 9.953 - 10.167/10.197 - 10.323 it can be monitored as.
The Companies with the Highest Market Capitalization in Borsa Istanbul
QNB Finansbank (QNBTR) → Market capitalization of TL 1.09 trillion, price per share is TL 319.50, a decrease of 1.54%.
Aselsan Electronics Industry (ASELS) → Market value of TL 534.89 billion, price per share is TL 117.00, a decrease of 0.26%.
Garanti Bank of Turkey (GARAN) → Market capitalization of TL 478.8 billion, price per share is TL 110.50, a decrease of 3.07%.
Turkish Airlines (THYAO) → market value of TL 419.52 billion, price per share is TL 305.75, an increase of 0.58%.
Koç Holding (KCHOL) → Market value of TL 412.34 billion, price per share is TL 161.60, a decrease of 0.62%.
Precious Metals and Foreign Exchange Prices
- Gold: 3787 TL
- Silver: 38.11 TL
- Platinum: 1151 TL
- Dollar: 38.00 TL
- Euro: 42.15 TL
Hope to meet you again tomorrow with the latest news!
