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 $76,600. Maintaining this level in BTC, which is hovering near the $ 75,930 support, may allow the upward reactions to continue in the short term. If persistence is achieved above $ 75,930, the $82,819 level can be followed as the first strong resistance. With the overcoming of this resistance, gradual increases can be seen towards the $85,419 and $ 92,214 levels. On the other hand, if the $75,930 level is lost, the $73,804 support may come into play. In deeper declines, the levels of $69.615 and $67.496 may be raised.
Ethereum (ETH) is trading at the $1,460 level and has sagged below the $1,486 support. If persistence is achieved below this level, the decline is likely to deepen to the level of $ 1,370. Further below, the $1,217 level can be viewed as the main support. The first resistance in the upward reactions will be $1,486. If this level is reached again, a recovery towards the December of $ 1,585 – $ 1,900 may be possible. A close above $2,000 could bring ETH targets of $2,277 and $2,428.
Crypto News
- Mastercard has partnered with Kraken to allow users in Europe to spend #Bitcoin at more than 150 million merchants worldwide.
- In the US, short-term interest rate futures traders are increasing their forecasts that the Fed will cut its policy rate in May.
- Canary has filed a SUI ETF application with the CBOE.
- Travis Hill, the Acting Head of the FDIC, said that they will issue additional guidelines on certain activities related to October #Bitcoin and crypto.
- The Justice Department dissolved the crypto unit in conjunction with Trump's withdrawal of digital asset regulations.
- Jeff Kendrick, head of research at Standard Chartered, said: "Bitcoin will be a protection against customs tariff risks this time.”
Cryptocurrencies
Those Who Have Risen The Most:
GAS →jumped 35.1% to $2.65.
NEO →jumped 9.1% to $5.45.
LAYER →rose 5.5% to $1.49.
DCR → rose 5.5% to $11.95.
VENOM →rose 4.7% to $0.1269.
The Ones Who Fell The Most:
GRASS → fell 13.8% to $1.62.
IBERA → fell 13.3% to $3.35.
BERA → fell 11.7% to $3.42.
FARTCOIN → fell by 11.4% to $0.5197.
NEAR → fell 10.5% to $1.88.
Other Data:
Fear Index:
Bitcoin: 21
Ethereum: 15
Dominans:
Bitcoin: 63.46% ▲ 0.19%
Ethereum: 7.34% ▼ 1.36%
Total Net ETF Inflows Per Day
BTC ETFs: -326.30 Million$
ETH ETFs: -3.30 Million$
Data to Follow Today
17:30 → Energy Information Administration Crude Oil Inventories
Expectation: 2,200M
Previous: 6,165M
21:00 → Federal Open Market Committee (FOMC) Meeting Minutes
Global Markets
US stock markets made a positive start to the day with strong reaction purchases, but turned down with the harsh news flow experienced during the day. In particular, former President Donald Trump's announcement that he had increased the customs duties imposed on China to 104% caused serious pressure on the markets. Trump cited the reason for this decision as China's failure to withdraw its retaliatory tax policies.
This development led to one of the most volatile days in recent years in the US stock markets. The indices moved in a wide band from up to 4% rises to losses of up to 3% during the day. At the end of the day, the S&P 500 lost 1.57%, the Dow Jones lost 0.84%, and the Nasdaq lost 2.15%.
All sectors in the S&P 500 index ended the day on the minus. The raw materials sector showed the weakest performance with 2.96%, followed by discretionary consumption with 2.54%, energy and real estate sectors with 2.45%. More defensive sectors such as finance, infrastructure and healthcare closed the day with more limited losses.
Selling pressure also dominated in US government bonds. Rising interest rates and inflation concerns also had an impact on the bond market. On the other hand, the message of the US economic administration that “we will ignore the markets for a while during this period” indicates that there is no Deceleration expected in the markets and that high volatility may continue.
These developments have also been effective in global markets. Although European stock markets closed positively yesterday, European futures are down by about 4% this morning. Asian stock markets are also watching sellers. The downward trend in US futures indices continues this morning as well.
One of the important topics of today will be the announcement of the minutes of the US Central Bank (Fed) meeting. December March meeting, interest rates were left fixed in the range of 4.25% -4.50%, while the interest rate forecast for 2025 was maintained at 3.9%. However, after the recent developments and increasing trade tensions, expectations that the Fed may cut rates sooner have started to strengthen in the market.
The Most Valuable Companies and Their Stock Prices
Microsoft (MSFT) → market capitalization of $2.64T, price per share of $354.56, down 0.92%
Apple (AAPL) → market capitalization of $2.59T, price per share of $172.42, a decrease of 4.98%
NVIDIA (NVDA) → market capitalization of $2.35T, price per share of $96.30, a decrease of 1.37%
Amazon (AMZN) → market capitalization of $1.81T, price per share of $170.66, down 2.62%
Alphabet (GOOG) → market capitalization of $1.77T, price per share of $146.58, down 1.78%
Borsa Istanbul
There was a balanced course and a positive close in Borsa Istanbul yesterday. Foreign transactions and money inflows and outflows were balanced. However, selling pressure is expected to increase in the BIST this morning due to the weak outlook in global markets. For this reason, we are going through a period when the volatility in the market is high, it is necessary to be careful in short-term transactions, and it would be healthier to focus on long-term investments.
The agenda of the day is calm. While there are no important data available in Turkey and Europe, the minutes of the Fed's meeting in the United States will be followed. Turkey's 5-year credit risk premium (CDS) started the day at 363 basis points.
Domestically, the Treasury had a cash deficit of TL 298.4 billion in March and a primary deficit of TL 162.9 billion. Compared to the same period last year, deficits increased. In March, revenues increased by 51.8% and expenses by 58.3%. Thus, the Treasury posted a total deficit of TL 901 billion in the first quarter of the year.
The Turkish Export Climate Index published by the Istanbul Chamber of Industry stood at 51.5 in March. This indicates a moderate improvement in the Sundays to which Turkey exports. While there has been an increase in production, especially in Germany, it is stated that the Middle East continues to be an important source of growth for Turkey.
The Treasury borrowed a total of TL 102.8 billion through bond auctions held yesterday. the interest rate of the 4-year fixed coupon bond was 39.81%. In addition, 22.1 billion TL 2-year lease certificates were sold. Thus, the total borrowing amount this week reached TL 187.4 billion.
Although the BIST 100 index fell to 9400 level yesterday, it closed at 9477 points with reaction purchases. Technically, the 9044 level stands out as short-term support. The December 9473-9594 is monitored as a resistance zone in upward movements. If these levels are exceeded, an increase towards the 9738-9895 December may be possible. However, if it falls below the 9044 level, the 8870 and then the 8618 levels may come up again.
The Shares That Increased The Most:
AKYHO → increased by 10.00% to 3.52 TL.
SNPAM → increased by 10.00% to 68.20 TL.
FINDINGS → reached TL 29.28 with an increase of 9.99%.
DERHL → increased by 9.99% to 74.30 TL.
CHIP → became TL 75.95 with an increase of 9.99%.
The Most Declining Shares:
EUHOL → fell by -9.99% to TL 14.51.
BRKO → fell by -9.87% to TL 12.15.
AKMGY → fell by -9.70% to TL 224.40.
SNKRN → fell by -9.03% to TL 134.00.
ATSYH → decreased by -8.42% to TL 47.44.
The Companies with the Highest Market Capitalization in Borsa Istanbul:
QNB Finansbank (QNBTR) → Market capitalization of TL 1.05 trillion, price per share is TL 301.50, a decrease of 3.75%.
Aselsan Electronics Industry (ASELS) → Market value of TL 541.73 billion, price per share is TL 117.20, a decrease of 1.35%.
Garanti Bank of Turkey (GARAN) → market value of TL 463.68 billion, price per share is TL 106.60, a decrease of 3.44%.
Turkish Airlines (THYAO) → market value of TL 425.38 billion, price per share is TL 307.00, a decrease of 0.41%.
Koç Holding (KCHOL) → Market value of TL 405.74 billion, price per share is TL 155.90, a decrease of 2.56%.
Precious Metals and Foreign Exchange Prices
- Gold: 3682 TL
- Silver: 37.29 TL
- Platinum: 1135 TL
- Dollar: 38.01 TL
- Euro: 42.06 TL
Hope to meet you again tomorrow with the latest news!
