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 evaluations.
Bitcoin (BTC)Bitcoin (BTC) is currently trading at $103,436. The upward trend that started from the $75,930 level gained momentum up to $104,629 by surpassing the $101,059 resistance with strong volume support. Currently, pricing is observed around the $104,000 resistance. If this level is broken upwards, the $108,000 and $109,850 regions can be followed as the next targets. However, in a possible correction, the $101,059 level stands out as the first support. If this level is breached, the $96,115 and $94,570 levels will be followed as support regions, respectively. It is critically important for BTC to maintain permanence above $101,000 to preserve the strength of the trend.
Ethereum (ETH)Ethereum (ETH) is currently trading at $2,346. The strong recovery process that started from the $1,486 region carried ETH up to $2,453 by surpassing critical resistances one after another. Currently, ETH is pricing just below this resistance. If the $2,453 level is broken, the $2,595 and $2,981 levels can be followed as targets, respectively. However, in possible profit-taking after the rise, the first support is located at the $2,095 level. Below this level, the $1,790 and $1,692 support levels will gain importance. It is critical for ETH to maintain permanence above the $2,095 level to preserve the upward momentum.
Crypto News
- Ethereum is experiencing its most significant number of up days since 2021.
- The SEC announced that a settlement has been reached in the ongoing lawsuit with Ripple and its executives.
- Trump's China tariffs may be reduced to 50%-54% next week.
- Treasury Secretary Bessent stated that cryptocurrency needs U.S. leadership to develop globally.
- Meta is considering supporting stablecoins.
- Donald Trump: "The stock market is really going to rally now."
- Donald Trump: "Now is exactly the time to buy stocks."
- A Standard Chartered analyst apologized for the $120,000 Bitcoin price prediction, stating that the estimate was 'too low.'
CryptocurrenciesTop Gainers:
- PNUT → Up 61.7% to $0.28015996
- PEPE → Up 42.6% to $0.00001317
- EIGEN → Up 34.9% to $1.21
- BRETT → Up 29.6% to $0.08187294
- ZK → Up 26.5% to $0.06958545
Top Losers:
- LAYER → Down 6.9% to $1.20
- SAFE → Down 6.1% to $0.52916763
- KAITO → Down 1.7% to $1.40
- VENOM → Down 1.4% to $0.11623603
- BCH → Down 1.0% to $413.40
Fear Index:
- Bitcoin: 69 (Greed)
- Ethereum: 49 (Neutral)
Dominance:
- Bitcoin: 64.27% ▼ 0.29%
- Ethereum: 8.54% ▲ 1.95%
Daily Total Net ETF Inflows
- BTC ETFs: $117.40 Million
- ETH ETFs: -$16.10 Million
Global Markets
Positive expectations regarding the trade agreement signed between the U.S. and the UK and the upcoming U.S.-China talks over the weekend have increased optimism in global markets. U.S. President Donald Trump announced that they are close to more trade agreements and that it is an appropriate time to buy stocks. As a result of these developments, U.S. stock indices closed the day with gains. The S&P 500 index rose by 0.58%, the Dow Jones by 0.62%, and the Nasdaq by 1.07%. While most sectors in the S&P 500 index performed positively, discretionary consumer and industrial sectors rose by 1.35%, energy by 1.26%, and the raw materials sector by 1.20%. On the other hand, limited losses were observed in the health, infrastructure, real estate, and consumer staples sectors.
According to the trade agreement between the U.S. and the UK, tariffs on UK-origin steel and aluminum products will be reduced to zero. In the automotive sector, the first 100,000 vehicles imported from the UK will be subject to a 10% customs duty. However, some previously announced tariffs, including the 10% tariffs that came into effect on April 2, will continue to be applied. Following this agreement, purchases in U.S. stock markets accelerated, and a slightly positive trend is observed in the futures markets this morning. The VIX volatility index has declined over the past two days, reaching 22.5.
In Europe, following the approval of the agreement between the UK and the U.S. and the Bank of England's interest rate cut, the UK's FTSE 100 index closed the day down by 0.3%, while the EuroStoxx 600 index rose by 0.4%. European technology stocks gained 1.9%. In Asian markets, a mixed outlook is observed this morning, with generally flat to positive pricing prevailing.
In the U.S. bond market, yields rose following the agreement news. The 10-year bond yield increased by 11 basis points to 4.38%, while the 2-year bond yield rose by 10 basis points to 3.87%. Thus, the difference between the 10-year and 2-year bond yields reached 50 basis points. The dollar index (DXY) rose by 1.0% daily to 100.6, while the Euro/Dollar pair fell by 0.6% to 1.123. In the cryptocurrency market, Bitcoin reached its highest level since the end of January, surpassing $100,000. In commodities, Brent crude oil rose by 2.8% to $62.8 per barrel due to optimistic expectations regarding U.S.-China trade talks. Gold prices, on the other hand, fell by 1.7% following the agreement news, ending the day at $3,306 per ounce.
Most Valuable Companies and Stock Prices
- Microsoft (MSFT) → $3.26T market cap, $438.17 per share, up 1.11%
- Apple (AAPL) → $2.95T market cap, $197.49 per share, up 0.63%
- NVIDIA (NVDA) → $2.86T market cap, $117.37 per share, up 0.26%
- Amazon (AMZN) → $2.04T market cap, $192.08 per share, up 1.79%
- Alphabet (GOOG) → $1.88T market cap, $155.75 per share, up 1.93%
Borsa Istanbul
Domestically, in April, the Treasury's cash balance posted a deficit of 183.5 billion TL, while the primary balance showed a surplus of 73.6 billion TL. In the same period last year, there was a deficit of 237.1 billion TL and a primary deficit of 132.1 billion TL. In April, budget revenues increased by 64.0% annually, while expenditures rose by 40.2%. Thus, the total cash deficit in the first four months of the year reached 1 trillion 85 billion TL.
The Istanbul Chamber of Industry's Turkey Export Climate Index decreased by 0.7 points in April, reaching 50.8. The index has remained above the threshold level of 50 for 16 months. However, uncertainties in global trade and economic slowdowns in some export markets appear to have pressured the index. Today, domestic industrial production data for March will be announced. Preliminary indicators suggest that the weak trend in production continues.
The BIST 100 index has been finding support above the 9,000 level for the past week and closed yesterday at 9,279 points, up over 2%. Notably, there was intense buying in the defense industry, petrochemical/refinery, aviation, and telecommunications sectors. The positive atmosphere in global stock markets also supported BIST. Today, it is expected that the buying trend in BIST will continue, but the pace of the increase may slow down. Next week, messages from Treasury and Finance Minister Mehmet Şimşek during investor meetings will be closely monitored.
From a technical perspective, the BIST100 index rose strongly from the 9,033 level. The 9,044-8,870 range maintains its importance as a support zone. As long as it stays above this area, the upward reaction is expected to continue. However, if it falls below this zone, a pullback to the 8,618-8,500 levels may occur. On the upside, the 9,490-9,594 band is the first resistance area, and if these levels are surpassed, there is potential for a rise towards the 9,740-9,895 band.
Most Valuable Companies in Borsa Istanbul
- QNB Finansbank (QNBTR) → 875.19 billion TL market cap, 263.75 TL per share, up 0.96%
- Aselsan Elektronik Sanayi (ASELS) → 702.7 billion TL market cap, 150.9 TL per share, down 2.08%
- Türkiye Garanti Bankası (GARAN) → 422.94 billion TL market cap, 99.7 TL per share, down 1.04%
- Türk Hava Yolları (THYAO) → 392.61 billion TL market cap, 288.50 TL per share, up 1.41%
- ENKA İnşaat ve Sanayi (ENKAI) → 381.32 billion TL market cap, 66.85 TL per share, up 2.77%
Precious Metals and Exchange Rates
- Gold: 4,126 TL
- Silver: 40.59 TL
- Platinum: 1,235 TL
- Dollar: 38.73 TL
- Euro: 43.50 TL
Looking forward to meeting again tomorrow with the latest news!
