Daily Market Insights with JrKripto: Global & Local Financial Highlights
Welcome to today’s edition of “Daily Market Insights with JrKripto,” where we break down the most important developments across global and local financial markets. Let’s dive into the broader market landscape and take a closer look at the latest evaluations.
Bitcoin (BTC) Price Update
Bitcoin (BTC) is currently trading at $99,700, following a strong upward trend that began at the $75,930 support level. This rally has pushed BTC above the critical $95,000–$96,000 resistance zone, bringing it within striking distance of the psychological $100,000 mark.
Should BTC decisively break above $100,000 with strong volume, the next potential targets lie at $101,000 and higher. However, any profit-taking in this region could lead to a pullback, with the $95,000–$96,000 range now acting as the first support. Below that, $94,000, $90,500, and $86,500 will serve as key levels to watch.
Ethereum (ETH) Price Movement
Ethereum (ETH) has climbed to $1,940, extending its rally from the $1,486 level. The coin has successfully tested above both $1,888 and $1,900, displaying strong technical momentum. If the upward trend continues, the immediate target is the psychological $2,000 resistance.
A breakout above $2,000 could pave the way to the next resistance levels at $2,277 and $2,428. On the downside, $1,888remains the first major support. A drop below that level would shift attention to $1,790 and $1,700. Holding above $1,888 is crucial for ETH to maintain its bullish structure.
Top Crypto Headlines
- Federal Reserve Holds Rates Steady – Investors are pricing in three rate cuts this year.
- Tether Mints $1 Billion in USDT
- Bessent Announces China Negotiations to Start Saturday
- Ethereum’s Pectra Upgrade Complete – Featuring 11 Ethereum Improvement Proposals (EIPs), this is the most significant update since the 2022 Merge.
Crypto Market Movers
Top Gainers:
- MOG → +43.8% to $0.3662
- PENGU → +27.9% to $0.0143
- SAFE → +22.5% to $0.5617
- IBERA → +20.1% to $3.32
- EOS → +18.4% to $0.8471
Top Losers:
- LAYER → -28.0% to $1.28
- VENOM → -7.8% to $0.1177
- OM → -6.5% to $0.3637
- SYRUP → -6.1% to $0.2226
- MX → -1.9% to $2.74
Fear Index:
- Bitcoin: 65
- Ethereum: 54
Dominance:
- BTC: 65.14% ▼ 0.33%
- ETH: 7.64% ▲ 3.04%
Daily Net ETF Flows:
- BTC ETFs: +$142.3M
- ETH ETFs: -$21.8M
Key Economic Data to Watch Today
- 15:30 – U.S. Initial Jobless ClaimsForecast: 231K | Previous: 241K
Global Markets Overview
Despite post-Fed meeting volatility, U.S. equities closed higher thanks to reports suggesting Donald Trump may ease export restrictions on the chip sector.
The Federal Reserve kept its policy rate unchanged at 4.25%–4.50%, in a unanimous decision. While recent economic data points to robust growth, inflation remains elevated. The Fed highlighted ongoing uncertainties in the economic outlook and reiterated a data-dependent stance for future rate decisions.
Fed Chair Jerome Powell stated that the central bank is well-positioned to “wait and see,” and is in no rush to change rates. Following his remarks, markets initially wavered but rebounded on Trump’s export news. Trump also hinted at a major trade announcement, likely involving the UK.
Market Performance:
- S&P 500: +0.43%
- Dow Jones: +0.70%
- Nasdaq: +0.27%
Best-performing sectors included consumer discretionary (+1.02%), tech (+0.91%), healthcare (+0.81%), and finance (+0.62%), while telecom (-1.84%), materials (-0.50%), and real estate (-0.02%) lagged.
Asian markets are opening strong today, and European indexes are expected to follow with positive momentum.
U.S. Tech Giants: Market Cap & Stock Price
- Microsoft (MSFT): $3.22T | $433.35 ▲ 0.01%
- Apple (AAPL): $2.93T | $196.25 ▼ 1.14%
- NVIDIA (NVDA): $2.85T | $117.06 ▲ 3.10%
- Amazon (AMZN): $2.00T | $188.71 ▲ 2.00%
- Alphabet (GOOG): $1.84T | $152.80 ▼ 7.51%
Borsa Istanbul (BIST) Update
The BIST100 index closed around 1% lower yesterday, impacted by geopolitical tensions and growth concerns. Aviation, steel, and petrochemical stocks faced heavy selling, while defense and retail sectors outperformed.
Fitch Ratings commented in a recent webinar that it does not expect further rate hikes from Turkey’s central bank. However, it warned of a reassessment of Turkish banks if domestic price volatility continues.
As Q1 2025 earnings season winds down, weak corporate results may continue to weigh on BIST. All eyes are now on Finance Minister Mehmet Şimşek’s upcoming meetings with international investors.
Technical Outlook:
- Support: 9044 – 8870 – 8725 – 8618
- Resistance: 9266 – 9475/9490 – 9594 – 9740 – 9895 – 9953
Consolidation around current levels could lead to a rebound, but a drop below key support might accelerate downside risk toward the 8500 region.
Top Companies on BIST by Market Cap
- QNB Finansbank (QNBTR): ₺890.26B | ₺268.75 ▲ 1.13%
- Aselsan (ASELS): ₺657.55B | ₺158.00 ▲ 9.57%
- Garanti Bank (GARAN): ₺419.58B | ₺99.95 ▲ 0.05%
- Turkish Airlines (THYAO): ₺384.68B | ₺284.50 ▲ 2.06%
- ENKA (ENKAI): ₺363.14B | ₺62.40 ▲ 0.73%
Precious Metals & Exchange Rates
- Gold: ₺4,229
- Silver: ₺40.73
- Platinum: ₺1,228
- USD/TRY: ₺38.65
- EUR/TRY: ₺43.84
See you again tomorrow with more updates and market insights!
