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Daily Market Summary with JrKripto 30 April 2025
Below is today's "Daily Market Update with JrKripto," where we compile the most significant developments in global and local markets. Let's analyze the general market conditions together and review the latest assessments.Bitcoin (BTC) is currently trading at $95,090. Following a strong upward movement from the $75,930 support level, the price has settled above $94,000. BTC is now testing the resistance band between $95,000 and $96,000. If this area is surpassed with significant volume, the next target could be $101,000. However, if profit-taking occurs at current levels, the first support is at $90,500. Sustained movement below this level could lead to a correction down to $86,500.Ethereum (ETH) is trading at $1,820. The recovery process that began from the $1,486 support level has maintained the price above $1,800. In the continuation of the upward movement, the $1,888 and $1,950 levels can be monitored as resistance. However, a pullback from the $1,820 level highlights $1,790 as the first support. Below this, a stronger support at $1,700 can be observed. To maintain ETH's current upward trend, staying above $1,790 is critically important.Crypto NewsThe SEC has concluded its investigation into PayPal's PYUSD stablecoin without enforcement action.Trump: "India is doing great; I think we will have an agreement on tariffs."The UK Chancellor states that the United Kingdom aims to be a "world leader in digital assets."The UK will collaborate with the US to increase cryptocurrency adoption.China has lifted the 125% tariff on imported ethanol from the US.CryptocurrenciesTop Gainers:DRIFT → Increased by 31.8% to reach $0.7651.AKT → Increased by 14.7% to reach $1.53.PLUME → Increased by 12.8% to reach $0.1925.AIC → Increased by 10.5% to reach $0.2011.FLOKI → Increased by 10.3% to reach $0.00009251.Top Losers:SAFE → Decreased by 13.9% to $0.5254.PENGU → Decreased by 13.3% to $0.0106.VIRTUAL → Decreased by 10.5% to $1.32.AI16Z → Decreased by 7.2% to $0.2799.DEEP → Decreased by 6.9% to $0.1942.Other Data:Fear Index:Bitcoin: 57Ethereum: 49Dominance:Bitcoin: 64.50% ▲ 0.10%Ethereum: 7.46% ▼ 0.14%Daily Total Net ETF Inflows:BTC ETFs: $172.80 MillionETH ETFs: $18.40 MillionData to Watch TodayADP Non-Farm Employment (April):Expectation: 114K | Previous: 155KGross Domestic Product (GDP) (Quarterly) (Q1):Expectation: 0.2% | Previous: 2.4%Core Personal Consumption Expenditures (PCE) Price Index (Monthly) (March):Expectation: 0.1% | Previous: 0.4%Core PCE Price Index (Annual) (March):Expectation: 2.6% | Previous: 2.8%Energy Information Administration Crude Oil Inventories:Expectation: -0.600M | Previous: 0.244MGlobal MarketsUS stock indices closed higher following optimistic statements on tariffs by Commerce Secretary Lutnick, marking the sixth consecutive positive trading day. The S&P 500 rose by 0.58%, the Dow Jones by 0.75%, and the Nasdaq by 0.55%. All sectors in the S&P 500, except for energy, closed in positive territory. The strongest performing sectors were financials (0.97%), materials (0.92%), consumer staples (0.77%), and real estate (0.74%).On the economic data front, a weak outlook persisted. The Conference Board Consumer Confidence Index fell from 93.9 in April to 86.0, reaching its lowest level in five years. The expectation was 87.7. The expectations index dropped by 12.5 points to 54.4, the lowest since October 2011, remaining below the 80-point level considered a recession indicator for the third consecutive month. The current conditions index declined to 133.5, while consumers' 12-month inflation expectations rose from 6% to 7%, the highest since November 2022. The JOLTS job openings data came in at 7.19 million, below the expectation of 7.49 million, marking the lowest level in four years. The housing price index also recorded a lower-than-expected increase.Asian markets showed mixed trends, while European markets are expected to start the day flat. Today, US markets will focus on Q1 GDP data, PCE inflation data, and ADP private sector employment data.Most Valuable Companies and Stock PricesApple (AAPL) → Market Cap: $3.17T, Share Price: $211.21, ▲ 0.51%Microsoft (MSFT) → Market Cap: $2.93T, Share Price: $394.04, ▲ 0.74%NVIDIA (NVDA) → Market Cap: $2.66T, Share Price: $109.02, ▲ 0.27%Amazon (AMZN) → Market Cap: $1.99T, Share Price: $187.39, ▼ 0.17%Alphabet (GOOG) → Market Cap: $1.95T, Share Price: $162.06, ▼ 0.22%Borsa IstanbulA weak outlook and capital outflows continue in Borsa Istanbul. Yesterday, the BIST 100 index fell below the 9,250 support level, with technical indicators showing clear sell signals. This decline positions the 9,000 – 9,100 range as the next support area. On the upside, the 9,250 – 9,300 band now serves as resistance. Given that today is the last trading day of April, the closing of arbitrage positions in VIOP share contracts and the stock market may create additional selling pressure on BIST.The Central Bank's weighted average funding cost (WAFC) remains close to 49%. Q1 financial results have generally been weak, though some stocks like ASELS and TABGD have shown positive performance. However, the expected strong outlook for the earnings season has not been achieved. Today's agenda includes Koç Holding (KCHOL) financial results, domestic foreign trade data, growth data in Europe, and employment, housing, and consumption-focused data in the US.Turkey's 5-year CDS premium has risen to 362 basis points, showing an upward trend contrary to the average of emerging markets. This indicates an increased risk perception specific to TL assets and the continuation of foreign sales in BIST.The unemployment rate fell to 7.9% in March, seasonally adjusted, reaching the lowest level in the series. However, the underemployment rate increased over the past three months, reaching 28.8%, the highest since June 2023. The labor force participation rate stood at 53.4%. The Economic Confidence Index for April decreased by 4.2% monthly to 96.6, marking the sharpest decline since August 2023. The subcomponents of the index indicate weakened expectations on both the consumer and producer sides.Yesterday, sales in aviation stocks determined the direction of the index, and the BIST 100 closed the day with a 0.9% loss. Generally weak earnings and rising interest rates are increasing pressure on the index. A selling trend is expected to continue in Borsa Istanbul today.The BIST 100 index fell to 9,217 yesterday before closing at 9,225. The 9,221 level is being monitored as short-term support, while the 9,044 – 8,870 range serves as a stronger support area due to previous lows. As long as the index stays above this region, rebound buying may occur. Otherwise, a stronger decline towards the 8,618 – 8,500 band could be experienced. On the upside, the 9,494 – 9,594 band stands out as near-term resistance. If this band is surpassed, movement towards the 9,740 – 9,895 range may be seen. Support levels for BIST 100: 9,221 – 9,044 – 8,870 – 8,725 – 8,618; resistance levels: 9,494 – 9,594 – 9,740 – 9,895 – 9,953.Most Valuable Companies in Borsa Istanbul (According to Visual Data):QNB Finansbank (QNBTR) → Market Cap: 938 billion TL, Share Price: 270.50 TL, ▼ 3.39%Aselsan Elektronik Sanayi (ASELS) → Market Cap: 626.54 billion TL, Share Price: 132.90 TL, ▼ 3.28%Türkiye Garanti Bankası (GARAN) → Market Cap: 430.08 billion TL, Share Price: 101.70 TL, ▼ 0.68%Türk Hava Yolları (THYAO) → Market Cap: 410.89 billion TL, Share Price: 289.00 TL, ▼ 2.94%ENKA İnşaat ve Sanayi (ENKAI) → Market Cap: 373.11 billion TL, Share Price: 63.80 TL, ▲ 0.24%Precious Metals and Exchange RatesGold: 4091 TLSilver: 39.97 TLPlatinum: 1201 TLUSD: 38.50EURO: 43.90
The Spot Crypto ETF Era Begins in South Korea: A Wind of Pre-Election Reform
South Korea Set to Take Major Steps in the Digital Asset SpaceAhead of the early presidential elections scheduled for June 3, the ruling People Power Party (PPP) has unveiled reform plans aimed at energizing the crypto market.Single Bank Requirement to Be RemovedThe PPP intends to remove the current rule that allows crypto exchanges to operate with only one bank.The new regulation would enable exchanges to partner with multiple banks, a move expected to increase investor access and boost competition.Legal Framework for Spot Crypto ETFsOne of the most notable pledges: Spot Bitcoin and altcoin ETFs are expected to become legally approved within this year.The PPP argues that such products would offer a safe entry point for institutional investors.Citing the growing interest in the U.S., the party believes South Korea must not fall further behind in this area.Digital Assets Promotion Act in the WorksThe PPP also plans to introduce a new legislative framework titled the “Basic Act for the Promotion of Digital Assets.”Key goals include:Clarifying listing criteriaStrengthening transparency regulationsCreating a legal foundation for security tokens (STOs)Ensuring international compliance for stablecoinsA special Digital Assets Committee, directly reporting to the president, is also under consideration to oversee the entire process.Crypto Policies Take Center Stage in Election CampaignPPP’s presidential candidate Hong Joon-pyo is campaigning on a promise to liberalize crypto regulations.He drew attention with his statement: “We will roll back regulations just like the Trump administration did.”Crypto is now not only an economic issue but a central theme in the broader political message.Parallel Announcements from RegulatorsThe Financial Services Commission (FSC) is also preparing new regulations.In January, it was announced that restrictions on institutional investors' crypto activities would be eased.The upcoming regulations will cover areas such as stablecoins, listing rules, and market transparency.Digital Transformation to Be Shaped by Election OutcomeSouth Korea is entering a new phase in crypto reform.With spot ETFs, flexible banking rules, and legal frameworks, the country could become one of Asia’s leading crypto hubs.However, the future of this transformation hinges on the election outcome.If the PPP wins, reforms could be implemented rapidly — the opposition’s stance, however, remains unclear.
Daily Market Summary with JrKripto 29 April 2025
You can find today’s “Daily Market with JrKripto” article below, where we 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 evaluations.Bitcoin (BTC) is currently trading at $94,700. The price has strongly continued the upward trend that started from the $75,930 support level and has now surpassed the $94,000 levels. Currently hovering near the $95,000 – $96,000resistance zone, a breakout from this region could bring $101,000 into focus. However, if profit-taking occurs around $95,000, the first support lies at $90,500. If this level is broken downward, $86,500 will be the next support level to watch.Ethereum (ETH) is trading at $1,824. The price continues its recovery that began from the $1,486 support. If the upward movement continues from the current level, the resistance levels to watch will be $1,888, followed by $1,950. On possible pullbacks, $1,790 will act as the first defense level. If that level fails, $1,700 will be the stronger support. To maintain the uptrend in ETH, staying above $1,790 is important.Crypto NewsCircle ($USDC) received approval to operate as a money services provider in Abu Dhabi, UAE.South Korea plans to approve spot crypto ETF trading later this year.Arizona became the first U.S. state to pass a $BTC reserve bill allowing 10% of public funds to be invested in virtual assets like Bitcoin. The bill now awaits Democratic Governor Katie Hobbs’ signature to become law.Standard Chartered predicts a new all-time high (ATH) for Bitcoin in Q2.U.S. Treasury Secretary Bessent says the first trade deal may be finalized this week or next.MicroStrategy purchased 15,355 BTC.Tether minted $1 billion in USDT.Top Gainers in Cryptocurrencies:SAFE → up 27.9%, now at $0.5898LAYER → up 15.0%, now at $3.12BABY → up 10.8%, now at $0.0926VIRTUAL → up 10.3%, now at $1.44MOCA → up 8.3%, now at $0.0968Top Losers:POPCAT → down 14.6%, now at $0.3684DEEP → down 11.1%, now at $0.2071WIF → down 10.3%, now at $0.5922TRUMP → down 9.7%, now at $13.75KAITO → down 9.6%, now at $0.9009Other Metrics:Fear Index:Bitcoin: 58Ethereum: 49Dominance:Bitcoin: 64.23% ▼ -0.25%Ethereum: 7.51% ▲ +1.25%Daily Total Net ETF Inflows:BTC ETFs: $591.20 millionETH ETFs: $64.10 millionData to Watch Today:Conference Board (CB) Consumer Confidence (April): Forecast: 87.7 | Previous: 92.9Job Openings and Labor Turnover Survey (JOLTS) (March): Forecast: 7.490M | Previous: 7.568MGlobal MarketsU.S. stock markets started the week positively with a heavy flow of economic data and earnings reports but couldn’t maintain gains and ended the day flat.S&P 500: +0.06%Dow Jones: +0.28%Nasdaq: -0.10%8 out of 11 major sectors closed in the green. The top performers were:Infrastructure: +0.70%Real Estate: +0.68%Energy: +0.63%Sectors underperforming included:Technology: -0.30%Consumer Staples & Discretionary: -0.15% eachEuropean markets also ended the day mostly flat to slightly positive.Today, company earnings will be the focus, especially from Visa, Coca-Cola, Spotify, and Mondelez, which will be key in assessing consumer trends and corporate outlooks.On the data side, the U.S. will release:Consumer confidenceJOLTS (Job openings)Trade balanceHousing pricesIn March, the trade deficit fell by $7.7B to $147.9B. JOLTS showed open jobs declined by 194K to 7.57M, with a hiring rate of 3.4%. Layoff and quit rates were stable at 1.1% and 2.0%, respectively.ECB will release March inflation expectations today. Asian markets showed mixed performance, while European indexes are expected to open higher.Most Valuable Companies & Stock PricesApple (AAPL) → $3.16T market cap, $210.14/share, ▲ 0.41%Microsoft (MSFT) → $2.91T, $391.16/share, ▼ 0.18%NVIDIA (NVDA) → $2.65T, $108.73/share, ▼ 2.05%Amazon (AMZN) → $1.99T, $187.70/share, ▼ 0.68%Alphabet (GOOG) → $1.97T, $162.42/share, ▼ 0.87%Borsa Istanbul (BIST)Rising interest rates, weak earnings, and ongoing risks have kept the BIST 100 index tightly ranged between 9250–9500for nearly a month.Yesterday, the index dropped 1.3%, closing at 9307, with banking stocks falling 3.2%, diverging negatively.Technical levels to watch:Support: 9250 → 9100/9000 → 8870/8618Resistance: 9390 → 9500 → 9580 → if broken, a move to 9740–9895 is possibleUpcoming Turkish data:March unemployment rateApril economic confidence index (previous: 100.8, decline expected)CDS risk premium started the day at 357 bps.Both technical and fundamental indicators suggest staying cautious on BIST.Top Companies by Market Cap in BISTQNB Finansbank (QNBTR) → ₺927.95B, ₺281.00/share, ▲ 1.44%Aselsan (ASELS) → ₺632.02B, ₺138.20/share, ▼ 0.29%Turkish Airlines (THYAO) → ₺431.60B, ₺301.75/share, ▼ 3.52%Garanti Bank (GARAN) → ₺425.46B, ₺101.90/share, ▲ 0.59%ENKA (ENKAI) → ₺376.33B, ₺63.55/share, ▼ 1.01%Precious Metals & FXGold: ₺4,086Silver: ₺41.18Platinum: ₺1,227USD/TRY: ₺38.43EUR/TRY: ₺43.82Looking forward to seeing you again tomorrow with the latest updates!
Arizona Becomes the First State in the US to Pass a Bitcoin Reserve Law
Arizona Approves Historic Legislation to Invest Public Funds in Bitcoin and Digital AssetsIn a landmark move for public finance, the state of Arizona has approved two pivotal bills allowing up to 10% of public funds to be invested in digital assets like Bitcoin. This bold step positions Arizona as a national leader in integrating digital finance into government operations.Two Key Bills: SB1025 and SB1373The first bill, SB1025, authorizes Arizona’s State Treasurer to allocate up to 10% of public funds into Bitcoin, representing a potential investment of approximately $3.14 billion.The second, SB1373, establishes the “Digital Assets Strategic Reserve Fund.” This fund will be supported by seized crypto assets and future allocations, and will be managed with transparency through blockchain technology and rigorous risk control standards.All Eyes on Governor HobbsTo take effect, both bills require the signature of Arizona Governor Katie Hobbs. While Hobbs previously stated she would veto all legislation due to budget disputes, a compromise was reached on April 24, clearing the path for approval.Now the spotlight is on the Governor’s decision. If signed, it will formally establish Arizona as a pioneer in incorporating digital assets into public finance.Could This Be the Start of a Bigger Trend?Experts believe Arizona’s move could serve as a blueprint for other states — and possibly even other countries.Adding Bitcoin and digital assets to public investment portfolios is seen as a compelling strategy for diversification and inflation protection.Naturally, such investments come with risks, including market volatility and regulatory uncertainty. However, Arizona’s approach proactively includes oversight mechanisms designed to mitigate these challenges.A New Era of Public Sector Crypto StrategyArizona’s passage of SB1025 and SB1373 marks a turning point — digital assets are no longer seen as exclusive to the private sector, but are now recognized as strategic financial instruments for public institutions as well.Governor Hobbs’ upcoming decision will be pivotal — not just for Arizona, but as a potential reference point for the future of the global digital economy
Standard Chartered Bitcoin Forecast: "The Big Rally Is Starting"
Standard Chartered Predicts Bitcoin Could Hit a New All-Time High by Q2 2025Optimism in the crypto markets continues to build. In a newly published report, Standard Chartered predicts that Bitcoin could reach a new all-time high during the second quarter of 2025.The report, authored by Geoff Kendrick, Head of Global Digital Assets Research at the bank, highlights the potential for a strong Bitcoin rally during the summer months.Key Drivers Behind Bitcoin’s Potential SurgeStandard Chartered identifies several major factors fueling Bitcoin’s expected rise:A shift among U.S. investors from domestic assets toward BitcoinAccelerating ETF inflows and a shift from gold to BitcoinLarge holders (1,000 BTC and above) increasing their positions during recent pullbacksA historic rise in U.S. Treasury term premiumsStrengthening institutional interest and the beginning of Bitcoin investments by pension fundsThe convergence of these dynamics is setting the stage for a powerful upward move in Bitcoin over the coming months.Clear Targets: First Stop at $120K, Year-End Goal at $200KAccording to the report, Bitcoin is expected to reach $120,000 in the short term, with a year-end target of $200,000 for 2025.Kendrick emphasizes that U.S. investors shifting away from traditional assets toward alternatives like Bitcoin will be a major catalyst for this bullish move.Whales Quietly AccumulatingStandard Chartered notes that Bitcoin "whales" have viewed the recent price corrections as buying opportunities, ramping up their accumulation.Kendrick points out that whales have historically made aggressive moves during pivotal moments — such as Trump’s election victory, spot Bitcoin ETF approvals, and the collapse of Silicon Valley Bank.Timing Will Be CriticalThe report also stresses the importance of timing.Historically, Bitcoin’s biggest gains have occurred during sudden, sharp rallies — making the coming weeks crucial for investors seeking to position themselves strategically.Setting the Stage for a Major RallyAccording to Standard Chartered’s analysis, Bitcoin is poised to set a new record high in the second quarter of 2025.Strong institutional inflows, whale accumulation, robust ETF demand, and favorable macroeconomic conditions are key factors supporting the next major bull run.
BTC Comments and Price Analysis 29 February 2025
Bitcoin (BTC) Technical Analysis Bitcoin Overview Bitcoin has reached a major resistance zone, and we are starting to observe negative divergences across several indicators at this level.This could trigger corrective movements in the coming days, though it’s important to remember that the overall market structure has turned positive.How to Approach Pullbacks? BTC CME Gap As long as Bitcoin maintains price action above $83,300, any pullbacks should be considered potential LONG opportunities.Key Support Levels BelowLooking at the CME Bitcoin futures gap and the 0.5 Fibonacci retracement support, the $91,440 – $90,500 range emerges as a critical zone.This area should be closely monitored for potential bounce setups if the price retraces.Upside TargetsOn the upside, the next key target levels are:$96,300$101,300LONG positions initiated from lower levels should aim to ride the move toward these targets, adjusting risk management accordingly.Important DisclaimerThis analysis does not constitute investment advice.It focuses on support and resistance zones that could present short- and medium-term trading opportunities based on market conditions.However, the responsibility for any trading decision and risk management lies entirely with the user.Using stop-loss orders is strongly recommended for any trade setups discussed.
Michael Saylor's Giant Move: Strategy Buys Bitcoin for $ 1.42 Billion
Strategy (Formerly MicroStrategy) Acquires 15,355 More Bitcoin, Strengthening Its Crypto HoldingsStrategy — formerly known as MicroStrategy and led by prominent Bitcoin advocate Michael Saylor — has made another major Bitcoin purchase between April 21–27, 2025.The company invested approximately $1.42 billion to acquire 15,355 Bitcoins (BTC), further solidifying its position as one of the largest institutional holders of Bitcoin.With this latest acquisition, Strategy’s total Bitcoin holdings have now reached 553,555 BTC, with a current market value exceeding $52 billion.Key Details of Strategy’s Latest Bitcoin Purchase:Purchase period: April 21–27, 2025Total BTC acquired: 15,355 BTCTotal investment: $1.42 billionAverage purchase price: $92,737 per BTCTotal Bitcoin holdings: 553,555 BTCTotal investment cost: $37.9 billionAverage cost per Bitcoin: $68,459Current market value: Over $52 billion2025 return rate: 13.7%Announcing the purchase directly via his social media channels, Michael Saylor reaffirmed the company’s strong, long-term commitment to its Bitcoin strategy.Funded Through Stock SalesThis large-scale Bitcoin acquisition was funded through proceeds from Strategy’s own stock sales.By utilizing equity financing, the company was able to expand its Bitcoin reserves without increasing its debt burden — a strategic move that keeps its balance sheet strong while deepening its crypto exposure.As of 2025, Strategy’s Bitcoin portfolio has delivered a 13.7% return, highlighting the resilience and profitability of institutional Bitcoin investments despite market volatility.Institutional Bitcoin Adoption on the RiseStrategy’s latest move underscores the growing acceptance of Bitcoin as a reserve asset among institutional investors.Interest in digital assets is soaring across corporations and investment funds, especially in the United States, further supporting Bitcoin’s emergence not just as an investment vehicle but as a vital store of value for the future financial system.What’s Ahead?With Bitcoin price volatility, evolving liquidity conditions, and increasing institutional demand, Strategy’s bold approach could serve as a model for other major corporations.Under Michael Saylor’s leadership, Strategy’s aggressive Bitcoin strategy is likely to continue reinforcing digital assets' standing within the traditional finance world.
A Step Forward in the New Hampshire Bitcoin Reserve Law: Digital Transformation Is Accelerating
New Hampshire Poised to Make History with Bitcoin Reserve BillThe small but ambitious state of New Hampshire is preparing to make a historic move in the crypto world. On April 23, 2025, the Senate’s Ways and Means Committee voted overwhelmingly—4 to 1—to approve the Bitcoin Reserve Bill (HB302).What Does HB302 Propose?The bill would allow up to 10% of New Hampshire’s general fund to be invested in digital assets and precious metals.However, the criteria for eligible digital assets are strict: the asset must have a market capitalization exceeding $500 billion — a benchmark that, as of today, only Bitcoin meets.How the Process Is UnfoldingJanuary 2025: Bill introduced to the House of RepresentativesMarch 2025: Passed the House by a 192-179 voteApril 2025: Approved by Senate committee with a 4-1 voteNext Steps: Awaiting a full Senate vote, followed by the governor’s signature to become lawIf successful, New Hampshire would become one of the first states to officially adopt Bitcoin as a reserve asset.What Are the Key Points of Debate?Supporters argue that Bitcoin’s limited supply offers superior protection and long-term returns compared to traditional assets.Critics counter that the state treasury already has the authority to invest in digital assets, making this bill redundant. They also highlight Bitcoin’s volatility as a potential risk for public funds.New Hampshire’s Digital Vision Extends Beyond HB302The state isn’t stopping with Bitcoin reserves. Other legislative efforts underway include:HB639: Establishing blockchain-based dispute resolution mechanisms and regulatory frameworksHB310: Regulating the tokenization of real-world assets and the use of stablecoinsNew Hampshire is clearly positioning itself as an active player in the digital finance revolution.Growing Competition: Arizona Makes Its MoveNew Hampshire’s initiative is inspiring other states to act. Arizona, for instance, is now working on its own Bitcoin reserve strategy.Competition in the digital asset space is no longer just among companies — it's heating up between states as well.A Strategic Turning PointIf HB302 becomes law, New Hampshire will not only cement its status as a pioneer among states but also send a powerful message about embracing technological and financial innovation.Integrating digital assets into public finance signals a major shift with economic, technological, and political implications.The crypto world—and the broader financial industry—is watching these developments closely.Frequently Asked Questions (FAQ)What exactly does HB302 cover?It allows up to 10% of state funds to be invested in precious metals and digital assets with a market capitalization above $500 billion—currently, only Bitcoin qualifies.Where does the bill currently stand?It has passed the Senate committee and is awaiting a full Senate vote, after which it will require the governor’s approval.Are other states pursuing Bitcoin reserve strategies?Yes. Arizona is also developing its own Bitcoin reserve plan, though no official legislation has passed yet.Could other cryptocurrencies be included in the future?Under current guidelines, only digital assets with a market cap over $500 billion are eligible. At present, that’s Bitcoin alone.Why is this bill significant?HB302 showcases New Hampshire’s vision for adapting to the digital economy and demonstrates its commitment to innovation by modernizing the state’s financial infrastructure.
A Big Partnership from the Financial Giants: The Twenty One Capital Era Begins For Bitcoin
Major Shake-Up in Crypto Markets: Cantor Fitzgerald, SoftBank, Tether, and Bitfinex Launch Twenty One CapitalA groundbreaking development is unfolding in the crypto space. Leading financial giants Cantor Fitzgerald, SoftBank, Tether, and Bitfinex are joining forces to launch a new Bitcoin investment company called Twenty One Capital. Backed by a massive $3.6 billion in capital, this initiative aims to reshape the institutional Bitcoin landscape.Twenty One Capital will merge with Cantor Equity Partners (CEP) and will be publicly listed on the NASDAQ under the ticker symbol "XXI".Investors and Capital StructureThe initial capital backing this powerhouse venture is distributed as follows:Tether: $1.5 billion in Bitcoin reservesSoftBank: $900 million investmentBitfinex: $600 million in financial backingAdditional Resources: $385 million from convertible bonds and a $200 million private equity raiseWith this structure, Twenty One Capital will debut with reserves of 42,000 Bitcoins, making it the world’s third-largest institutional Bitcoin holder right out of the gate.Familiar Face at the Helm: Jack MallersJack Mallers, the renowned founder of Strike, will serve as CEO of Twenty One Capital. Under Mallers' leadership, the company will be evaluated not by traditional financial metrics, but by Bitcoin-centric indicators such as Bitcoin Per Share (BPS) and Bitcoin Return Rate (BRR).A New Strategy: Bringing Bitcoin to the Institutional WorldTwenty One Capital's core mission is to accelerate Bitcoin’s adoption in the institutional investment space.The firm aims to offer investors a regulated environment for direct Bitcoin exposure and plans to develop a range of Bitcoin-based financial products.Their strategic model is inspired by MicroStrategy’s highly successful Bitcoin-focused approach.Market Reaction: A Massive RallyFollowing the announcement, Cantor Equity Partners' stock price skyrocketed by 197%, reflecting the growing appetite for institutional Bitcoin investments and the increasing convergence of traditional finance and crypto markets.The resurgence of crypto-friendly policies during Donald Trump’s new term is also providing a supportive backdrop for such initiatives.Cantor Fitzgerald’s Established Position in CryptoCantor Fitzgerald is no stranger to the crypto sector. Since 2021, the firm has been managing $134 billion in Tether’s reserves and holds a 5% stake in Tether.This deep-rooted experience gives Twenty One Capital a significant edge as it embarks on this bold new journey.A New Chapter for BitcoinThe collaboration between industry heavyweights Cantor Fitzgerald, SoftBank, Tether, and Bitfinex goes beyond just another financial investment—it represents a pivotal moment in Bitcoin’s journey toward permanent integration into institutional portfolios.All eyes are now on Twenty One Capital's performance on NASDAQ.This new venture could mark a major turning point for Bitcoin and the broader crypto ecosystem.
Standard Chartered Warns: Fed Independence Debate Could Push Bitcoin to Record Highs
Standard Chartered: Political Pressure on the Fed Could Trigger a Major Bitcoin RallyAs global financial markets navigate turbulent times, Bitcoin has once again captured attention — this time with a bold forecast from Standard Chartered.Geoffrey Kendrick, the bank’s head of digital assets research, suggested that Bitcoin could experience significant upside if the U.S. Federal Reserve comes under political pressure.Why Fed Independence Matters for BitcoinAccording to Standard Chartered’s analysis, recent remarks from U.S. President Donald Trump — hinting at the potential removal of Fed Chair Jerome Powell — are fueling serious risk perceptions across markets.Kendrick explained that political interference threatens the Fed’s independence, which could, in turn, make decentralized assets like Bitcoin more attractive.In short, fears over the Fed losing its autonomy could position Bitcoin as a safe haven during financial uncertainty.Bitcoin Following the U.S. Bond MarketKendrick also pointed to the sharp rise in term premiums on U.S. 10-year Treasury bonds, now at their highest level in 12 years — a trend historically linked to Bitcoin’s price movements.While Bitcoin has so far lagged behind these developments, Kendrick believes this delay signals significant upside potential for the cryptocurrency in the coming months.Long-Term Price Targets for BitcoinStandard Chartered has outlined some ambitious long-term price targets for Bitcoin:End of 2025: $200,000End of 2028: $500,000The analysis argues that threats to central bank independence and mounting global economic uncertainties are making these projections increasingly plausible.Is Bitcoin Becoming More Like Traditional Assets?Kendrick observed that Bitcoin has recently been behaving similarly to tech stocks, showing delayed reactions to major macroeconomic shifts.However, over the long term, he expects Bitcoin to function more as a "financial insurance policy" against systemic risks in the traditional finance system.The bank’s report also predicts rapid growth in the stablecoin market, forecasting that the sector could reach $2 trillion in total market capitalization by the end of 2028.Macro Conditions Will Be Key for BitcoinThe message from Standard Chartered is clear:Bitcoin’s price will increasingly be driven by major economic and political shifts, not minor market fluctuations.Any developments that threaten the Fed’s independence could significantly boost investment flows into Bitcoin.For market watchers, the key takeaway is this: Bitcoin is evolving beyond a speculative asset — it’s emerging as a crucial hedge against global uncertainty.
Daily Market Summary with JrKripto 26 February 2025
You can access the "Daily Market with JrKripto" summary, where we compile daily important developments in cryptocurrency, global and local markets, below.Come on, let's analyze the general situation in the markets together and take a look at the most up-to-date evaluations.Bitcoin (BTC) is currently trading at $ 89,000. According to technical analyzes, $ 88,000 stands out as a strong intermediate support point, while $ 85,500 is followed as a more critical support level. If the price drops below the $ 88,000 level, a pullback to $ 85,500 may be seen as the selling pressure increases. In upward movements, $ 90,500 is the first resistance zone, followed by $ 92,500 as a larger resistance point. If BTC exceeds these levels and maintains its permanence above them, a new upward wave may begin.Ethereum (ETH) is currently trading at $ 2,480. The $2,500 and $2,650 levels are being monitored as strong resistance points in upward movements. If ETH cannot hold above the $2,400 level, the risk of a pullback to the $2,300 support zone first and then to the $2,200 support zone may increase. However, if the price breaks the $2,500 level and remains above it, an accelerated rise to $2,650 can be expected.Crypto NewsOKX was found guilty of operating as an unlicensed money transmission business and paid a $84M fine.Bank of America announced that it predicts the Fed will no longer cut interest rates this year.$1,590,000,000 was liquidated from the cryptocurrency market in the last 24 hours.SEC Drops Investigation Into DeFi Firm Uniswap LabsGameStop CEO Ryan Cohen said he received a letter from an investor suggesting he buy Bitcoin with the $5 billion in cash on the company's balance sheet.CryptocurrenciesTop GainersIP → Up 38.6% to $6.81.AB → Up 25.9% to $0.01099505.LCX → Up 24.7% to $0.2383915.TIA → Up 24.5% to $3.86.RUNE → Up 22.2% to $1.56.Top FallersBTSE → Down 8.1% to $1.44.FAI → Down 2.9% to $0.02367967.OM → down 2.2% to $7.59.VANA → down 1.4% to $8.87.QAI → down 1.3% to $77.93.Total Daily Net ETF InflowsBTC ETFs: -$937.90METH ETFs: -$50.10MData to Watch Today18:00 | 🇺🇸 US - Energy Information Administration Crude Oil StocksExpected: 2,500MPrevious: 4,633M18:00 | 🇺🇸 US - New Home Sales (January)Expected: 679KPrevious: 698KGlobal MarketsMajor US indices closed with declines led by the technology sector, while the Nasdaq lost 1.35% and the S&P 500 lost 0.47% and ended the last four trading days in the red. The Dow Jones gained 0.37% and was positively separated. The Consumer Confidence Index fell to 98.3, well below expectations of 102.7, and recorded its steepest monthly decline since August 2021. The index continued to decline for three months, while consumers' inflation expectations increased from 5.2% to 6%.Six of the 11 sectors in the S&P 500 lost value, while the essential consumption (1.69%), real estate (1.15%), healthcare (0.86%) and raw materials (0.80%) sectors were positively separated. Telecommunications (1.53%), energy (1.47%) and technology (1.37%) were the sectors that lost the most value. Yields in the bond market continued to decline.While US President Donald Trump made decisions regarding copper imports, the White House announced that this situation was brought to the agenda due to national security reasons. Active maturity copper contracts were traded at a 4.50% premium due to concerns about tariffs on copper trade. Oil prices fell due to weak consumption expectations, and US crude oil fell by 2.65% to $69.Housing prices continued to increase. The FHFA Housing Price Index increased by 0.4% monthly and 4.7% annually in December. The S&P CoreLogic Case-Shiller 20 city index increased by 0.52% monthly and 4.48% annually.The Richmond Fed Manufacturing Index rose from -4 to +6 in February, entering expansion territory after 15 months. The Philadelphia Fed Non-Manufacturing Outlook Survey showed that non-manufacturing activities contracted in February.While Asian indices are on a strong positive track, European markets are expected to start the day on a positive note.Most Valuable Companies and Stock PricesApple (AAPL) → Market value $3.71 trillion, share price $247.04, down -0.02% daily.NVIDIA (NVDA) → Market value $3.1 trillion, share price $126.63, down -2.80% daily.Microsoft (MSFT) → Market value $2.96 trillion, share price $397.90, down -1.51% daily.Amazon (AMZN) → Market value $2.26 trillion, share price $212.80, up 0.04% daily.Alphabet (GOOG) → Market value $2.15 trillion, share price $177.37, down -2.11% daily.Borsa IstanbulSee the February Sectoral Inflation Expectations announced by the Central Bank of the Republic of Turkeye, 12-month ahead inflation expectations changed to 25.3% (0.1% decrease) for market participants, 41.9% (1.9% decrease) for the real sector, and 59.2% (0.4% increase) for households. This situation shows that inflation expectations have declined on the market and real sector side, but households' inflation concerns have increased. The sharp decline, especially on the real sector side, may indicate that producers' cost increase expectations have weakened and that inflationary pressure may ease over time. On the other hand, households' rising inflation expectations indicate that concerns about price increases on the consumer side continue. Borsa Istanbul (BIST100) continued its downward trend. The banking sector was the only sector to stand out positively, while transaction volumes fell and stock-based volatility increased as the maturity date approached. The index closed below critical levels, signaling increased selling pressure. BIST100 is expected to start the day slightly positively, in line with global markets. Yesterday, BIST100 closed at 9452, its second close below the 200-day average. This indicates that the weak trend continues. Falling below 9550 could trigger a more significant decline, and the 9221-8618 range could stand out as the support area. For a short-term recovery, the index needs to rise above 9650-9715.The Stocks That Gained the Most:VSNMD → increased by 9.98% to 84.85 TL.DAGHL → increased by 9.93% to 22.58 TL.AKYHO → increased by 8.66% to 3.01 TL.DMSAS → increased by 7.85% to 7.14 TL.DARDL → increased by 7.83% to 4.82 TL.Stocks That Declined the Most:ARZUM → fell by -89.46% to 3.47 TL.TDGYO → fell by -9.99% to 16.93 TL.ICUGS → fell by -9.97% to 21.14 TL.SUNTK → fell by -7.95% to 39.62 TL.DESPC → fell by -7.01% to 49.84 TL.Companies with the Highest Market Value on Borsa IstanbulQNB Finansbank (QNBTR) → 850.9 billion TL market value, 259.00 TL per share price, +1.97% increase.Türkiye Garanti Bankası (GARAN) → 538.86 billion TL market value, 131.3 TL per share price, +2.34% increase.Turkish Airlines (THYAO) → 439.19 billion TL market value, 320.50 TL per share price, +0.71% increase.Aselsan Elektronik Sanayi (ASELS) → 382.13 billion TL market value, 83.70 TL per share price, -0.12% decrease.Koç Holding (KCHOL) → 380.38 billion TL market value, 150.5 TL per share price, +0.33% increase.Precious Metals and Currency PricesGold: 3415 TLSilver: 37.09 TLPlatinum: 1136 TLDollar: 36.46 TLEuro: 38.27 TLHoping to meet again tomorrow with the latest news!
