You can find today’s “Daily Market with JrKripto,” where we compile the most important developments in global and local markets, below. Let’s analyze the general market conditions together and take a look at the latest updates.
Here’s the updated version, aligned with current prices and presented as a single, cohesive text:
Bitcoin (BTC) is currently trading at $94,300. Following an upward trend that began at the $75,930 support level, the price has managed to hold above the $94,000 mark. BTC continues to test the resistance zone between $95,000 and $96,000. If this level is broken to the upside, $101,000 could emerge as the next target. However, if profit-taking occurs around current levels, the first support lies at $90,500. Below that, $86,500 is considered a stronger support level.
Ethereum (ETH) is trading at around $1,800. The recovery that started from the $1,486 support has pushed ETH back above the $1,800 level. Should the upward momentum continue, the resistance levels to watch are $1,888 and $1,950. On the downside, $1,790 will be the first support point in case of a pullback. If ETH drops below this level, $1,700 could act as the next support. Staying above $1,790 is key for ETH to maintain its current upward trend.
Crypto News
- Chinese President Xi stated: “We are ready to work with EU leaders to expand mutual openness and properly manage frictions and disagreements.”
- Tether minted $1 billion worth of USDT.
- Strategy announced the purchase of 1,985 BTC.
- Binance founder CZ stated that he proposed BNB and BTC as the initial reserve currencies for Kyrgyzstan’s national crypto fund. Previously, CZ had joined Kyrgyzstan’s National Crypto Committee upon the invitation of President Sadyr Japarov.
- VanEck submitted an S-1 filing for a BNB ETF.
- President Trump said, “I want crypto. Crypto is important because if we don’t do it, China will.”
Top Gainers:
- DAKU → Up 28.6% to $0.1833
- SAROS → Up 14.8% to $0.1510
- TURBO → Up 14.1% to $0.0060
- MOVE → Up 11.4% to $0.1870
- SAFE → Up 10.7% to $0.4922
Top Losers:
- LAYER → Down 37.6% to $1.96
- RAY → Down 13.4% to $2.31
- DEEP → Down 9.0% to $0.1734
- BRETT → Down 8.4% to $0.0505
- FLR → Down 8.4% to $0.0180
Other Metrics:
- 24-Hour Volume: $64.06B
- Market Cap: $2.92T
Fear & Greed Index:
- Bitcoin: 57 (Greed)
- Ethereum: 51 (Neutral)
Dominance:
- Bitcoin: 64.87% ▲ 0.05%
- Ethereum: 7.54% ▼ 0.45%
Daily Net ETF Flows:
- BTC ETFs: $425.50 Million
- ETH ETFs: $0.0 Million
Global Markets
U.S. stock indices ended the first trading day of the week with minor losses after nine consecutive days of gains. The S&P 500 fell by 0.64%, the Dow Jones by 0.24%, and the Nasdaq by 0.74%. The consumer staples sector stood out with a slight increase, while energy (-2.02%), consumer discretionary (-1.32%), and tech (-0.85%) were the weakest.
The drop in energy stocks was triggered by OPEC+ announcing an additional daily output of 411,000 barrels. Following the announcement, oil prices dropped by 1.85%. Furthermore, former President Donald Trump’s proposal to impose a 100% import tariff on foreign films led to selling pressure in media and entertainment stocks.
Looking at economic data, the U.S. ISM services PMI rose to 51.6 in April, beating expectations of 50.2 and March’s 50.8, indicating accelerated activity in the service sector. The new orders index rose to 52.3, suggesting increased demand. However, the employment index remained in contraction territory at 49. The prices index surged to 65.1, the highest since January 2023, reflecting mounting cost pressures. The delivery times index rose to 51.3, suggesting slower deliveries.
On the other hand, the S&P Global Services PMI for April was revised down from 51.4 to 50.8, indicating slight weakness. Today, the U.S. will release its March trade balance data; in February, the trade deficit was $122.7 billion.
In global markets, China’s Caixin services PMI came in at 50.7, below the expected 51.7, creating a mixed outlook across Asian markets, while European markets are expected to open flat.
Markets are now focused on the Fed’s interest rate decision and Chair Powell’s remarks. The Fed is expected to hold rates steady. U.S. weekly crude oil inventory data is also on today’s economic agenda.
Most Valuable Companies and Stock Prices
- Microsoft (MSFT) → $3.24T market cap, $436.17 per share, up 0.20%
- Apple (AAPL) → $2.99T market cap, $198.89 per share, down 3.15%
- NVIDIA (NVDA) → $2.78T market cap, $113.82 per share, down 0.59%
- Alphabet (GOOG) → $2T market cap, $166.05 per share, up 0.14%
- Amazon (AMZN) → $1.98T market cap, $186.35 per share, down 1.91%
Borsa Istanbul
In Borsa Istanbul, weak momentum and capital outflows persist. Due to high interest rates, poor earnings reports, and ongoing political risks, the pressure on BIST is expected to continue. Technically, the 9000–9100 range serves as support, while the 9250–9280 zone is resistance. About 35% of companies have reported Q1 2025 results, and only 15% showed positive outcomes across six key metrics: revenue, gross profit, EBITDA, EBITDA margin, net profit, and return on equity. This is likely to lead to downward revisions in 12-month average targets and keep the index in a narrow range.
Today, PMI and PPI data from Europe will be monitored. Turkey’s 5-year CDS started the day at 349 basis points.
In April, Turkey’s CPI rose by 3.0% monthly, slightly below the 3.2% forecast. Annual inflation dropped to 37.86%, down 0.2 points. Core inflation indicators — the B index at 36.8% and the C index at 37.1% — showed minor declines. Due to currency movements, PPI increased by 2.76% month-on-month and fell to 22.5% year-on-year. This trend suggests an upward pressure on inflation, driven by TL depreciation and regulated price adjustments.
Today, Turkey’s real effective exchange rate for April will be released. The Treasury will also conduct auctions for 2-year fixed coupon and 7-year floating rate bonds.
Following the inflation report, Finance Minister Mehmet Şimşek stated that the year-end inflation is still expected to remain within the Central Bank’s forecast range. He also mentioned that due to new U.S. trade policies, some American companies are in talks to manufacture in Turkey, and efforts to combat the informal economy will be intensified. He will meet with investors in London and Doha next week.
Data shows that demand for automobiles, especially imported ones, hit record highs in April. Externally, risk-off sentiment prevails ahead of the Fed meeting. Domestically, Central Bank Governor Fatih Karahan will present to the Parliament’s Planning and Budget Committee today.
The BIST 100 index climbed to 9241 yesterday but closed at 9112 after selling pressure. The rebound from 9058 confirms that the 9044–8870 band is a strong support zone. As long as the index stays above this range, recovery may continue. However, sustained trading below this level could lead to a sharper decline toward the 8618–8500 zone. On the upside, 9490–9594 is the next resistance zone, and if breached, the 9740–9895 band may come into play. The index is expected to remain flat in the short term.
Most Valuable Companies on Borsa Istanbul
- QNB Finansbank (QNBTR) → 900.31B TL market cap, 270.00 TL per share, up 0.47%
- Aselsan (ASELS) → 591.89B TL market cap, 136.90 TL per share, up 5.47%
- Garanti Bank (GARAN) → 425.88B TL market cap, 102.80 TL per share, up 1.38%
- Turkish Airlines (THYAO) → 405.72B TL market cap, 293.75 TL per share, down 0.09%
- ENKA Construction (ENKAI) → 373.70B TL market cap, 64.35 TL per share, up 0.94%
Precious Metals and Currency Rates
- Gold: 4,165 TL
- Silver: 41.06 TL
- Platinum: 1,216 TL
- USD: 38.60 TL
- EUR: 43.73 TL
Looking forward to seeing you again tomorrow with the latest updates!
