You can find today’s edition of “Daily Market with JrKripto,” where we compile the most important developments in global and local markets, below. Let’s analyze the overall market conditions together and review the latest insights.
Bitcoin (BTC), after starting its long-term uptrend at $75,930 and reaching an all-time high (ATH) of $111,980, faced strong profit-taking. The downward break of the ascending channel on the 4-hour chart, followed by the loss of the $104,977 support, pushed the price quickly down to around $101,150. This drop, accompanied by high-volume selling across the last four candles, signals more than a mere technical breakdown—it indicates a decisive wave of selling. Additionally, the political tension between U.S. President Trump and Elon Musk has increased market uncertainty, further supporting the bearish pressure.
BTC is currently trading around $103,200, with the $101,059–$100,063 range standing out as a strong support zone. This area previously attracted buying interest and is once again showing signs of buyer re-entry. If this zone fails to hold, the next levels to watch are $96,914 and $96,115. On short-term recoveries, the $102,137 and especially the $104,977 levels should be monitored as resistance. As long as these levels remain unbroken, upward moves are likely to stay limited. However, the price has shown a notable reaction from the current support zone, increasing the probability of a short-term rebound.
Ethereum (ETH) tested $3,004 after climbing from $1,486, but has since entered a correction and is now trading at $2,460. Technically, the $2,385 level acted as critical support and sparked a significant bounce, though price action remains close to this zone. If this support fails, $2,098 and $2,004 are the next levels to follow.
For bullish momentum to resume, ETH must break above the $2,711 resistance. If this level is cleared, targets include $2,838 and $3,004. Like BTC, ETH has also seen a meaningful bounce from support. Sustaining above $2,385 is essential to maintain the positive outlook.
Crypto News
- The European Central Bank (ECB) implemented a 25bp rate cut.
- Chinese state media reported a conversation between President Trump and President Xi.
- BounceBit added support for $USD1, the stablecoin of World Liberty Financial.
- Circle, issuer of USDC, saw its stock surge 200%, rising from its $31 IPO price to $94.41.
- Uber is reportedly exploring the use of stablecoins as a payment method.
- World Liberty Financial sent a cease and desist notice to Fight Fight Fight LLC, the issuer of the Trump memecoin.
- Truth Social registered Bitcoin and Ethereum ETFs in Nevada.
- Tesla lost $150 billion in market cap, marking the biggest loss in the company’s history.
Top Gainers in Crypto
- FARTCOIN → Up 15.6% to $1.04
- COMP → Up 12.9% to $49.36
- LA → Up 6.1% to $1.54
- GRASS → Up 4.5% to $1.99
- KTA → Up 4.4% to $1.08
Top Losers in Crypto
- RVN → Down 34.6% to $0.01458774
- LDO → Down 11.3% to $0.7718249
- TRUMP → Down 10.4% to $9.72
- JUP → Down 9.6% to $0.46357394
- DOG → Down 9.1% to $0.00425333
Fear Index
- Bitcoin: 51
- Ethereum: 41
Dominance
- Bitcoin: 64.56% ▲ 0.01%
- Ethereum: 9.35% ▲ 0.24%
Daily Net ETF Flows
- BTC ETFs: -$278.40 million
- ETH ETFs: $11.30 million
Key Economic Data to Watch Today
- 15:30 – Average Hourly Earnings (MoM) (May)
- Forecast: 0.3% / Previous: 0.2%
- 15:30 – Non-Farm Payrolls (May)
- Forecast: 126K / Previous: 177K
- 15:30 – Unemployment Rate (May)
- Forecast: 4.2% / Previous: 4.2%
Global Markets
As of the morning of Friday, June 6, 2025, global markets are preparing to end the week with cautious optimism. The resumption of high-level trade talks between the U.S. and China has supported global risk appetite, though weak economic data and political tensions are keeping investors cautious.
U.S. stock markets have shown a volatile trend. Tesla shares fell sharply after Donald Trump criticized Elon Musk. Trump's statement that he may cancel government contracts with Musk’s companies increased selling pressure on tech stocks. Following this, the Nasdaq declined, while the S&P 500 and Dow Jones ended the day with slight losses.
On the macro front, weak data stood out. The ADP private sector employment report showed an increase of only 37,000 jobs in May—the lowest since March 2023. Meanwhile, the ISM services PMI fell to 49.9, signaling contraction in the services sector. These indicators suggest a deepening slowdown in the U.S. economy.
In Europe, the ECB delivered its eighth rate cut of the year. However, the Eurozone services PMI also dropped to 49.7 in May, reinforcing signs of ongoing economic weakness in the region.
Asian markets are performing more positively. China’s services PMI exceeded expectations, boosting buying appetite, especially in the Hong Kong and Japanese markets. Regional markets began the final trading day of the week on a strong note.
Meanwhile, the OECD revised its global economic growth forecasts downward. Growth expectations for both 2025 and 2026 have been updated to 2.9%. The report cited uncertainty in trade policy, tightening financial conditions, weakening consumer confidence, and rising political risks as serious threats to growth.
Today, global market attention will focus on the U.S. non-farm payrolls data. A weaker-than-expected figure could strengthen expectations for an earlier rate cut by the Fed. However, continued geopolitical tensions and weak economic indicators suggest cautious market sentiment will persist.
Most Valuable Companies and Stock Prices
- Microsoft (MSFT) → $3.48 trillion market cap, $467.68 per share, +0.82%
- NVIDIA (NVDA) → $3.42 trillion market cap, $139.99 per share, -1.36%
- Apple (AAPL) → $3 trillion market cap, $200.63 per share, -1.08%
- Amazon (AMZN) → $2.21 trillion market cap, $207.91 per share, +0.33%
- Alphabet (GOOG) → $2.05 trillion market cap, $169.81 per share, +0.25%
Precious Metals and Exchange Rates
- Gold: 4,245 TL
- Silver: 45.66 TL
- Platinum: 1,475 TL
- USD: 39.29 TL
- EUR: 44.91 TL
See you again tomorrow with more market updates!
