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 general market conditions together and take a look at the latest assessments.
Bitcoin (BTC) is currently trading at $79,000. Following a reaction from the $75,930 level, an upward movement has started. As long as it stays above this level, the $82,819 resistance could be tested again. If the $82,819 level is surpassed, BTC may continue to rise towards $85,419 and $92,214 respectively. However, in case of a pullback, the $75,930 support could come into play again. If this level is lost, the decline may deepen to $73,804.
Ethereum (ETH) is trading at $1,565. Holding above the $1,486 support seems to have limited the selling pressure. In upward recoveries, the first resistance is at $1,585. If this level is broken, ETH is expected to start a move towards $1,900 and $2,000. Daily closes above $2,000 could lay the groundwork for acceleration to $2,277 and $2,428. In the downward scenario, falling below the $1,486 level may bring pullbacks to the $1,370 and then $1,217 support levels.
Crypto News
- Binance announced its initial voting results and will delist the following coins on April 16, 2025: BADGER, BAL, BETA, CREAM, CTXC, ELF, FIRO, HARD, NULS, PROS, SNT, TROY, UFT, and VIDT.
- Trump: We are lowering prices and interest rates.
- Pakistan appointed CZ as a strategic advisor on cryptocurrencies.
- White House Trade Advisor Navarro: “We expect the market to find a bottom.”
- European Commission President von der Leyen announced that the EU is ready to negotiate customs tariffs with the U.S.
- Strategy reported a paper loss of $5.91 billion from Bitcoin in the first quarter.
- Trump: The Fed is moving slowly, it should cut interest rates!
- Fed funds futures now price in 120 basis points of rate cuts for this year.
Cryptocurrencies
Top Gainers:
- FARTCOIN → Up 24.6% to $0.5784
- CORE → Up 19.2% to $0.4818
- HYPE → Up 17.7% to $11.93
- ZEC → Up 17.1% to $34.59
- KCS → Up 16.8% to $9.32
Top Losers:
- BERA → Down 9.2% to $3.88
- IBERA → Down 8.5% to $3.90
- ELF → Down 6.9% to $0.2112
- LAYER → Down 5.8% to $1.40
- BTSE → Down 4.3% to $1.09
Other Data:
Fear Index:
- Bitcoin: 25
- Ethereum: 25
Dominance:
- Bitcoin: 63.48% ▼ 0.09%
- Ethereum: 7.69% ▲ 1.58%
Daily Total Net ETF Inflows:
- BTC ETFs: -$103.90 Million
- ETH ETFs: $2.10 Million
Global Markets
U.S. futures started the week with sharp losses, but indices showed strong recovery following reports that Trump may consider delaying tariffs for countries other than China by 90 days. However, this report was denied by the White House, leading to renewed market volatility. By the end of the day, indices closed with slight losses after a volatile session.
S&P 500 saw the highest trading volume in recent times. At the close, the S&P 500 fell by 0.23%, the Dow Jones by 0.91%, while the Nasdaq ended the day with a slight gain of 0.10%. Only 2 out of 11 main sectors closed in the green: Telecommunications gained 1.03%, and technology rose by 0.32%. On the other hand, real estate dropped 2.40%, materials by 1.65%, and infrastructure by 1.53%, making them the weakest sectors.
There was notable volatility in the bond market. The 2-year U.S. Treasury yield fell to as low as 3.44% during the day but closed at 3.78%. Gains in the 10-year yield were erased by the end of the session.
In today’s economic data agenda, the EIA’s weekly crude oil inventory report stands out. Asian markets started the day with strong gains. European indices are expected to open positively.
U.S. tariffs on all countries continue to create volatility in global markets. News flow on the issue changes frequently and sometimes leads to misinformation. While some reports suggest that tariffs may be postponed or softened, others claim they could be increased further. These uncertainties are increasing market fluctuations.
Most Valuable Companies and Stock Prices
- Apple (AAPL) → $2.73T market cap, $181.46 per share, ▼ 3.67%
- Microsoft (MSFT) → $2.66T market cap, $357.86 per share, ▼ 0.55%
- NVIDIA (NVDA) → $2.38T market cap, $97.64 per share, ▲ 3.53%
- Amazon (AMZN) → $1.86T market cap, $175.26 per share, ▲ 2.49%
- Alphabet (GOOG) → $1.80T market cap, $149.24 per share, ▲ 1.02%
Borsa Istanbul
Borsa Istanbul continues to be affected by global market volatility. Yesterday, the BIST 100 index dropped to 9,050 at the start of the week but tested 9,500 throughout the day due to reaction buying, closing at 9,407 points. This morning, signs of recovery are seen in foreign markets. Accordingly, upward moves in BIST may continue, and the 9,500–9,600 resistance zone could be tested again.
Due to high volatility, caution is advised for short-term investments. Despite attractive valuations, investors are advised not to rush in the medium to long term.
- Support zone: 9,000–9,200
- Resistance zone: 9,500–9,600
- Breakout above 9,473–9,594 could lead to 9,738–9,895
- Critical support: 9,044–8,870, with a potential drop to 8,618 if breached
The 12-month target for BIST 100 remains above 14,000. However, future revisions may lower this estimate. Nonetheless, strong long-term return potential is still indicated.
Today’s Domestic Data: Treasury bond and lease certificate auctions are in focus. Yesterday, the Treasury borrowed ₺62.6 billion in a 2-year fixed coupon bond auction with an average compound interest rate of 47.36%. Today, the Treasury’s cash balance data will be released. In February, the cash balance posted a deficit of ₺397.6 billion, and the non-interest balance showed a deficit of ₺265.9 billion.
Internationally, U.S. wholesale data and Fed minutes are on the agenda. Turkey’s 5-year CDS (credit default swap) level starts the day at 362 basis points, after peaking at 380 yesterday—indicating rising risk perception in the markets.
In Conclusion: Borsa Istanbul is expected to open positively in line with global recovery efforts. However, caution is warranted in the short term as high volatility may continue, with sudden shifts depending on global developments.
Top Gainers in Borsa Istanbul:
- KFEIN → +10.00% to ₺127.60
- DAGHL → +9.97% to ₺88.80
- DERHL → +9.93% to ₺67.55
- ETILR → +9.92% to ₺12.96
- CEMAS → +9.85% to ₺4.35
Top Losers in Borsa Istanbul:
- EUHOL → -9.99% to ₺16.12
- AFYON → -7.39% to ₺14.03
- SEKUR → -4.97% to ₺15.11
- PAPIL → -4.83% to ₺35.88
- SKBNK → -4.73% to ₺5.24
Top Market Cap Companies in Borsa Istanbul:
- QNB Finansbank (QNBTR) → ₺1.06 trillion market cap, ₺317.25 per share, 0.00% change
- Aselsan (ASELS) → ₺532.15 billion, ₺117.60 per share, ▲ 0.77%
- Garanti Bank (GARAN) → ₺461.16 billion, ₺109.40 per share, ▼ 0.36%
- Turkish Airlines (THYAO) → ₺427.80 billion, ₺309.75 per share, ▼ 0.08%
- Koç Holding (KCHOL) → ₺401.69 billion, ₺158.90 per share, ▲ 0.32%
Precious Metals & Exchange Rates
- Gold: ₺3,673
- Silver: ₺36.94
- Platinum: ₺1,128
- USD/TRY: ₺38.01
- EUR/TRY: ₺41.51
See you again tomorrow with the latest updates!
