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Daily Market Summary with JrKripto 16 June 2025
You can find today’s edition of 'Daily Market with JrKripto' below, featuring a roundup of the most important developments from both global and local markets. Let’s take a closer look at the overall market conditions and the latest insights together.Bitcoin formed a narrow trading range over the weekend. With the start of the new week, BTC moved upward, climbing as high as $106,600. The $106,500–$107,300 range remains a key resistance zone. Despite ongoing uncertainty in global markets, Bitcoin is showing strong bullish momentum. If buying pressure continues at this pace, a breakout above resistance could pave the way toward the next target at $108,900. On the downside, holding above the $105,000 level is a positive sign. The next major support lies at $103,900.As noted in our technical analysis section, Ethereum continues to trade within an ascending channel. Currently retesting a key resistance area, ETH has entered the week with strong buying momentum. The $2,580–$2,630 range remains a crucial resistance zone, with Ethereum trading around $2,620 at the moment. A breakout above this level could open the path toward the upper boundary of the channel, around $2,900. In case of a pullback, initial support is seen at $2,580, followed by a secondary support level at $2,500.Crypto NewsVanEck filed an updated version of its spot Solana ETF S-1 application. The SEC approved the Trump Media filing, opening the door to billions of dollars in Bitcoin purchases. Trump: Iran and Israel must reach an agreement. Binance Futures will launch AAVEUSDC and UNIUSDC futures contracts. Cryptocurrencies Top Gainers:KTA → Increased by 15.0% to $0.99917686.CHEX → Increased by 14.7% to $0.24206435.JTO → Increased by 14.1% to $2.30.SYRUP → Increased by 14.1% to $0.52734284.TKX → Increased by 13.0% to $32.38.Top Decliners:XSOLVBTC → Declined by 7.3% to $100,147.47.TRIBE → Declined by 6.3% to $0.42285928.RVN → Declined by 4.6% to $0.01914205.PI → Declined by 2.0% to $0.60475777.GT → Declined by 1.7% to $16.61.Fear Index:Bitcoin: 61Ethereum: 52 Dominance:Bitcoin: 64.58% ▼ 0.18%Ethereum: 9.55% ▲ 0.71%Daily Total Net ETF Inflows BTC ETFs: $301.70 million ETH ETFs: -$2.10 million Global MarketsIsraeli Prime Minister Netanyahu announced on Friday that they had launched an attack on Iran and said that the attacks would continue until the threat was eliminated. Netanyahu's threat is interpreted as Iran being very close to producing nuclear weapons. Attacks between Iran and Israel continued over the weekend. These developments in the Middle East have significantly heightened global tensions.This rising geopolitical tension naturally triggered selling pressure across global markets. While gold and oil prices surged, equity markets experienced minor declines. The VIX index climbed 2.8 points to 20.8, signaling growing anxiety among investors.Trump stated that intensive negotiations for peace are underway and that we may see positive results soon. This week, all eyes will be on developments between Iran and Israel.In financial markets, the Fed, the Bank of England, and the Central Bank of the Republic of Turkey's interest rate decisions will be closely monitored this week. No changes in interest rates are expected at any of these meetings. Another important topic at these meetings will be economic forecasts for the future.Most Valuable Companies and Stock PricesMicrosoft (MSFT) → Market capitalization of $3.53 trillion, share price of $474.96, down 0.82%.NVIDIA (NVDA) → Market capitalization of 3.46 trillion USD, share price of 141.97 USD, down 2.09%.Apple (AAPL) → Market capitalization of 2.93 trillion USD, share price of 196.45 USD, down 1.38%.Amazon (AMZN) → Market capitalization of $2.25 trillion, share price of $212.10, down 0.53%.Alphabet (GOOG) → Market capitalization of $2.13 trillion, share price of $175.88, down 0.62%. Borsa IstanbulToday, important data for the Turkish economy will be announced. The current account deficit, retail sales, number of salaried employees for April, and central government budget data for May will be monitored. In March, the current account deficit stood at $4.1 billion, while preliminary figures for April suggest it may have widened to $7.7 billion. A rising current account deficit typically signals increased demand for foreign currency.Additionally, the Central Bank of Turkey (CBRT) will publish its June Market Participants Survey today. In the previous survey conducted in May, the inflation expectation was 30.35%, while the CBRT’s official forecast remained at 24%.There is also another development that could strengthen the Central Bank's position: TCMB has extended its currency swap agreement with the People's Bank of China for another three years. The agreement allows for transactions up to 189 billion TL.On the stock market front, rising tensions between Iran and Israel have caused significant unease. The BIST100 index closed Friday at around 9,300 points, down 1.8%.As the new week begins, markets will be closely watching both global geopolitical developments and upcoming central bank interest rate decisions.Top Market Capitalization Companies on Borsa IstanbulQNB Finansbank (QNBTR) → Market capitalization of 858.44 billion TL, share price of 254.50 TL, down 0.68%.Aselsan Elektronik Sanayi (ASELS) → Market value of 645.24 billion TL, share price of 144.80 TL, up 2.33%.Türkiye Garanti Bankası (GARAN) → Market value of 492.24 billion TL, share price of 117.20 TL, no change.Koç Holding A.Ş. (KCHOL) → Market value of 368.72 billion TL, share price of 145.30 TL, and a decrease of 0.07%.Enka İnşaat ve Sanayi A.Ş. (ENKAI) → Market value of 366.66 billion TL, share price of 61.60 TL, 1.52% decrease. Precious Metals and Currency PricesGold: 4344 TL Silver: 46.20 TL Platinum: 1568 TL Dollar: 39.46 TL Euro: 45.66 TL We look forward to bringing you the latest updates again tomorrow!
ETH Comments and Price Analysis 14 June 2025
ETH/USDT Technical AnalysisWe can name the range formed on the chart of ETH an upward channel. Ethereum has gone through an important consolidation period in this area, and in spite of the negative global news, it keeps this range without losing the structure. During the conflict between Israel and Iran over the last two days, we have witnessed that money has shifted towards safe havens like gold on the global arena. In short, global concern is at its peak right now, yet Ethereum stands strong like a safe haven. ETH Rising Channel The pullback to the top level of the channel is now priced in the middle band of the channel. The major support area for Ethereum is the $2400–$2430 range. Also, $2467 and $2507 are other important support levels.The major resistance zone for Ethereum is $2588–$2617. If this level breaks, we may see a peak movement later. Ethereum keeps its strong pattern despite the negative global events occurring over the last few days, and new targets will be on the table upon breaking these resistance levels.These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop-loss (SL) during transactions.
Daily Market Summary with JrKripto 13 June 2025
You can find today’s edition of “Daily Market Recap with JrKripto,” where we compile the most important developments in global and local markets, below. Let’s analyze the overall market conditions together and review the latest updates.Bitcoin (BTC) had previously dropped below the $104,977 support level, falling to as low as $101,150 before rebounding from the $101,059–$100,063 range with strong buying pressure and breaking out of the descending channel to the upside. However, BTC has now pulled back to around $104,950, once again approaching critical support levels. If the downward move continues, the $104,977 and $101,059 supports remain important. A drop below these levels could bring the $96,914 level into focus. On the upside, it will be difficult to speak of a sustained recovery unless the $106,794 and especially $109,588 resistance levels are broken. A stable move above $109,588 could target $111,980 (ATH) and $114,500.Ethereum (ETH) also gave a positive signal earlier by breaking out of its descending channel, but it has now pulled back to around $2,525. This weakening has raised doubts about the recovery. If the downward movement continues, the $2,385 level stands out as strong support. Falling below this level could bring $2,098 and then $2,004 into play. For the upward recovery to gain momentum, ETH needs to break above $2,711 and then $2,838. However, to reestablish a positive outlook, the price must maintain above $2,711.Crypto NewsBlackRock aims to become the world's largest crypto asset manager by 2030.President Trump called the 🇺🇸🇨🇳 China trade deal "GREAT!"Trident announced a funding plan of up to $500 million for the XRP Treasury and appointed Chaince Securities LLC as a strategic advisor.Financial market giant DTCC is exploring a stablecoin.French firm The Blockchain Group raised €9.7 million to buy more Bitcoin.Coinbase to launch futures trading in the U.S.Coinbase is partnering with American Express to launch the 'Coinbase One Card' offering up to 4% Bitcoin cashback.Israeli air force carried out airstrikes on Iran.Top Gainers in CryptocurrenciesVENOM → Up 26.6% to $0.17085618AERO → Up 15.0% to $0.63056735TRIBE → Up 5.5% to $0.45062473AB → Up 5.0% to $0.01219636WBT → Up 3.2% to $33.62Top Losers in CryptocurrenciesSPX → Down 18.4% to $1.39FARTCOIN → Down 17.9% to $1.10MOG → Down 17.0% to $0.97854539POPCAT → Down 16.7% to $0.3029431BRETT → Down 16.5% to $0.04416029Fear IndexBitcoin: 66Ethereum: 58DominanceBitcoin: 64.85% ▲ 0.83%Ethereum: 9.41% ▼ 3.66%Daily Net ETF InflowsBTC ETFs: $86.30 MillionETH ETFs: $112.30 MillionGlobal MarketsThe day began with reports that Israel struck multiple targets in Iran. We had previously warned in yesterday’s bulletin of rising geopolitical tensions in the region, but the scale and speed of this development have exceeded market expectations. Reports indicate that Israel hit military, industrial, and even academic targets in over 10 cities in Iran. The scope of this strike is significant, and attention now turns to Iran’s possible retaliation. Whether Iran will target Israeli cities or U.S. bases in the region remains a closely watched matter.These developments have caused noticeable movements in asset prices. Oil prices have surged nearly 10%, while gains have also been seen in precious metals, agricultural commodities, and other safe-haven assets. Conversely, global equity markets are under selling pressure. Losses in U.S. and European futures and Asian stock markets range between 1–2%.Yesterday, U.S. stock indices closed higher. The S&P 500 gained 0.4% and the Nasdaq 0.2%, while the VIX volatility index rose 0.8 points to 18.0. In Europe, the Eurostoxx-600 index declined by 0.3% due to diminishing trade optimism and heightened geopolitical tensions.Following the Middle East crisis, Brent crude oil tested $78.50 this morning and is currently trading around $74.70, up 7.7%. Gold also hit a one-month high on safe-haven demand, rising 1.1% to $3,422 per ounce. The U.S. Dollar Index (DXY) is up 0.4% at 98.3. Selling pressure continues in futures markets and Asian equities.On the macroeconomic front, the U.S. Producer Price Index (PPI) rose 0.1% in May, falling short of the 0.2% market expectation. Year-over-year, PPI rose to 2.6% from 2.5%. The decline in airline fares and flat energy prices contributed to the lower increase.Better-than-expected CPI and PPI data, along with signs of cooling in the labor market, have increased expectations of a potential Fed rate cut in September. However, at the upcoming June 18 meeting, the Fed is expected to keep interest rates unchanged.Additionally, weekly jobless claims in the U.S. came in at 248,000 for the week ending June 7, exceeding expectations of 242,000. Continuing claims rose to 1.96 million—the highest since November 2021—indicating a slowdown in the labor market.Most Valuable Companies & Stock PricesMicrosoft (MSFT): $3.56 trillion market cap, $478.87 per share, up 1.32%NVIDIA (NVDA): $3.54 trillion market cap, $145.00 per share, up 1.52%Apple (AAPL): $2.98 trillion market cap, $199.20 per share, up 0.21%Amazon (AMZN): $2.26 trillion market cap, $213.24 per share, up 0.02%Alphabet (GOOG): $2.14 trillion market cap, $176.97 per share, down 1.02%Borsa IstanbulIn Turkey, the Industrial Production Index (IPI) for April showed a sharp 3.1% monthly decline. The calendar-adjusted annual change was 3.3%. This steep monthly drop largely reflects a correction and normalization following March's strong growth. Volatility in capital goods production continues to be the primary driver of fluctuations in industrial output.The Construction Cost Index rose 1.7% in April month-over-month, with an annual increase of 22.7%. This marks the 11th consecutive month of year-over-year decline. Seasonally adjusted figures show that the monthly increase accelerated from 1.9% to 2.3%, signaling rising construction costs.Due to heightened geopolitical tensions in the Middle East, the BIST-100 index fell below its 100- and 200-day moving averages, ending the day down 1.7%. The biggest losses were in the banking, holding, and aviation sectors, while defense and steel stocks performed relatively better. The rise in geopolitical risk also pushed up oil and gold prices.Meanwhile, the CBRT has shifted all its funding operations to weekly repo auctions, bringing the average funding cost down to 46%—a 300 basis point drop over the last three trading days.Geopolitical tensions will continue to be the dominant factor in the short term. As such, a bearish trend may persist on the BIST today.Technical Outlook:The BIST-100 index closed at 9,520 yesterday, showing a weak trend throughout the session. The pullback, which began from 9,734—just below the 9,740–9,770 resistance band—continued throughout the day but remained relatively limited. The index staying above the 9,475–9,445 transition band indicates that the bullish expectation is still intact. If this support zone is breached, signs of weakness may strengthen, bringing the 9,255–9,148 support range back into focus. For now, as long as the index remains above this support zone, the possibility of retesting the 9,740–9,770 resistance band remains on the table.Most Valuable Companies on Borsa IstanbulQNB Finansbank (QNBTR): 876.86B TRY market cap, 258.75 TRY per share, down 1.15%Aselsan (ASELS): 659.83B TRY market cap, 144.20 TRY per share, down 0.35%Garanti Bank (GARAN): 499.8B TRY market cap, 114.20 TRY per share, down 4.03%Turkish Airlines (THYAO): 384.68B TRY market cap, 265.00 TRY per share, down 4.93%Koç Holding (KCHOL): 374.3B TRY market cap, 142.20 TRY per share, down 3.66%Precious Metals & Currency PricesGold: 4,334 TRYSilver: 46.19 TRYPlatinum: 1,617 TRYUSD: 39.42 TRYEUR: 45.45 TRYSee you again tomorrow with the latest updates!
Daily Market Summary with JrKripto 12 June 2025
You can find today’s edition of “Daily Market Recap with JrKripto,” where we compile the most important developments in global and local markets, below. Let’s analyze the overall market conditions together and review the latest updates.Bitcoin (BTC) rebounded after falling as low as $101,150 below the $104,977 support level, recovering strongly from the $101,059–$100,063 range and breaking out of the descending channel to the upside, shifting its technical outlook into positive territory. However, BTC is currently experiencing a slight pullback, trading around $107,600. The $109,588 resistance is crucial for the upward move to continue. If the price holds above this level, the next targets would be $111,980 (ATH) and $114,500, respectively. On the downside, $106,794 and $104,977 should be watched as support levels. Holding these supports is essential for maintaining the positive scenario.Ethereum (ETH) similarly broke out of its descending channel, rebounding from the $2,385 support and is currently trading around $2,750. For the upward movement to gain momentum, ETH needs to surpass the $2,838 resistance. Once this level is broken, $3,004 may become the next target. In the event of a downward correction, the $2,385 level remains the most important support.Crypto NewsUkraine has officially submitted a bill proposing the establishment of a strategic #Bitcoin reserve.Interactive Strength (TRNR) has launched a $500 million facility to purchase Fetch.ai (FET) tokens, initiating a crypto treasury strategy focused on AI.Trump: “Inflation numbers are great! The Fed should cut rates by a full percentage point.”Circle's stablecoin to be launched within the #WLD project.Bank of America is developing a stablecoin.Lutnick: “Many deals are coming next week.”GameStop plans to offer $1.75 billion in convertible bonds.Top Gainers in CryptocurrenciesZBCN → Up 17.6% to $0.00445597SPX → Up 11.6% to $1.72RVN → Up 8.1% to $0.0222342WBT → Up 4.7% to $32.69KAIA → Up 4.5% to $0.16935909Top Losers in CryptocurrenciesAI16Z → Down 14.9% to $0.19085176GRASS → Down 14.8% to $1.71PENDLE → Down 12.1% to $3.93DOG → Down 11.9% to $0.00414189PLUME → Down 10.9% to $0.10564537Fear IndexBitcoin: 71Ethereum: 60DominanceBitcoin: 64.18% ▲ 0.09%Ethereum: 9.92% ▼ 0.18%Daily Net ETF InflowsBTC ETFs: $164.60 MillionETH ETFs: $240.30 MillionKey Economic Data to Watch Today3:30 PM – Initial Jobless ClaimsForecast: 242K / Previous: 247K3:30 PM – Producer Price Index (PPI) (MoM) (May)Forecast: 0.2% / Previous: -0.5%Global MarketsYesterday in the U.S., May CPI data came in below expectations for both headline and core inflation. Monthly CPI rose by 0.08%, falling short of the 0.2% forecast. Annual inflation edged up by just 4 basis points to 2.35%, also below the expected 2.5%. Price declines in energy, automotive, and clothing contributed to this mild inflation outlook. Core CPI rose 0.13% month-over-month, below the 0.3% forecast, and annual core inflation has remained flat at 2.8% for the past three months.Despite the data, market reaction was limited. U.S. stock markets closed lower yesterday. The S&P 500 dropped 0.3%, the tech-heavy Nasdaq fell 0.5%, while the Dow Jones ended flat.Meanwhile, surging geopolitical tensions in the Middle East led to a sharp increase in oil prices. WTI crude ended the day up 5.5%, positively impacting energy stocks. The S&P 500 Energy Sector Index rose 1.5%, making it the top gainer. Conversely, news that the U.S. and Mexico are discussing tariff reductions on steel exports pressured steel-related stocks. As a result, the S&P 500 Materials Sector Index fell 1.0%, becoming the biggest loser.After the close, Oracle (ORCL) reported strong financial results, but this did not significantly shift overall market sentiment. U.S. markets are expected to open slightly lower today. European markets started the day with selling pressure. Investors are closely watching the U.S. PPI data due later today. Having fallen into negative territory in April, the PPI is expected to turn positive in May and show annual growth. This data could have a stronger market impact than CPI.Most Valuable Companies & Stock PricesMicrosoft (MSFT): $3.51 trillion market cap, $472.62 per share, up 0.36%NVIDIA (NVDA): $3.49 trillion market cap, $142.83 per share, down 0.78%Apple (AAPL): $2.97 trillion market cap, $198.78 per share, down 1.92%Amazon (AMZN): $2.26 trillion market cap, $213.20 per share, down 2.03%Alphabet (GOOG): $2.16 trillion market cap, $178.79 per share, down 0.68%Borsa IstanbulDomestically, April's Industrial Production Index (IPI) will be released today. In March, the seasonally and calendar-adjusted IPI rose 3.4% monthly but fell 2.7% year-over-year. On a calendar-adjusted basis, annual growth was 2.5%. However, early indicators for April suggest continued weakness in industrial production. Notably, the April PMI for manufacturing stood at 47.3, remaining below the 50 threshold, indicating ongoing contraction.The Construction Cost Index for April is also expected today.The BIST-100 index showed a cautious rise yesterday, closing around its 100-day moving average but failing to break above the 9,700 level. With the second weekly repo auction post-holiday, the CBRT’s weighted average funding rate dropped to 48%, reinforcing expectations for a potential rate cut on June 19. Meanwhile, heightened geopolitical tensions in the Middle East lifted oil prices, contributing to selling pressure in both U.S. markets and VIOP's evening session. A slight pullback may be seen in Borsa Istanbul today as a result.Technical Outlook:The BIST-100 closed at 9,686 yesterday, following a predominantly positive session. The upward trend remains intact, and the index has now closed above both its 100- and 200-day moving averages for two consecutive days, supporting a bullish technical view. Although the lower limit of the 9,740–9,770 resistance band was tested, the close remained below it. This range is still being considered a “transition zone.” If the index closes above this band, a move toward the 10,000 level could begin.Most Valuable Companies on Borsa IstanbulQNB Finansbank (QNBTR): 884.4B TRY market cap, 264.00 TRY per share, unchangedAselsan (ASELS): 644.33B TRY market cap, 144.60 TRY per share, up 2.34%Garanti Bank (GARAN): 508.62B TRY market cap, 119.90 TRY per share, down 0.99%Turkish Airlines (THYAO): 400.89B TRY market cap, 282.00 TRY per share, down 2.93%Koç Holding (KCHOL): 385.46B TRY market cap, 147.60 TRY per share, down 2.89%Precious Metals & Currency PricesGold: 4,205 TRYSilver: 46.03 TRYPlatinum: 1,588 TRYUSD: 39.18 TRYEUR: 44.78 TRYSee you tomorrow with the latest updates!
Daily Market Summary with JrKripto 11 June 2025
You can find today’s edition of “Daily Market Recap 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 updates.Bitcoin (BTC) dropped as low as $101,150 after falling below the $104,977 support level, but then rebounded strongly from the $101,059–$100,063 range. With this recovery, the short-term descending channel structure was broken to the upside, and BTC is currently trading around $109,200. The technical outlook has turned positive again.In the short term, the $109,588 resistance is critical. If this level is surpassed, the next targets are $111,980 (ATH) and then $114,500. On possible pullbacks, the $106,794 and $104,977 levels are strong supports. Holding these supports is key to sustaining the uptrend.Ethereum (ETH) also broke out of its descending channel to the upside, displaying a positive outlook. Rebounding from the $2,385 support level, ETH is now trading around $2,770.To continue the upward move, ETH needs to break the $2,838 resistance. If this level is breached, the $3,004 level may come into play. On the downside, $2,385 stands out as a strong support.Crypto NewsNasdaq-listed MatalphaPro purchased 18,000 $ETH ($48 million) via Binance 10 hours ago.The SEC has begun reviewing Bitwise’s Bitcoin and Ethereum ETFs.The SEC requested firms applying for Solana ETFs to update their S-1 forms. Solana ETFs could be approved within 3 to 5 weeks.GameStop announced that it has purchased 4,710 Bitcoins.The U.S. and Mexico are nearing a deal to lift Trump-era 50% tariffs on steel imports up to a certain volume.The World Bank voiced agreement with President Trump, stating that countries are using unfair trade practices and called for lowering tariffs imposed on the U.S.Nasdaq has proposed a Spot SUI ETF to the SEC.Ukraine has officially submitted a bill to establish a strategic #Bitcoin reserve.Top Gainers in CryptocurrenciesKAIA → Up 19.2% to $0.16271082JTO → Up 17.9% to $2.25GIGA → Up 15.3% to $0.02752151SYRUP → Up 15.0% to $0.49653499LAUNCHCOI → Up 14.1% to $0.22357478Top Losers in CryptocurrenciesAXL → Down 13.4% to $0.49167878DEXE → Down 9.9% to $9.33ZBCN → Down 9.7% to $0.00378731KAVA → Down 6.3% to $0.43993857AI16Z → Down 6.3% to $0.22387602Fear IndexBitcoin: 70Ethereum: 58DominanceBitcoin: 64.14% ▲ 0.11%Ethereum: 9.88% ▼ 0.62%Daily Net ETF InflowsBTC ETFs: $431.20 MillionETH ETFs: $125.00 MillionKey Economic Data to Watch Today3:30 PM – Core Consumer Price Index (MoM) (May)Expected: 0.3% / Previous: 0.2%3:30 PM – Consumer Price Index (MoM) (May)Expected: 0.2% / Previous: 0.2%3:30 PM – Consumer Price Index (YoY) (May)Expected: 2.5% / Previous: 2.3%5:30 PM – EIA Crude Oil InventoriesExpected: -2.400M / Previous: -4.304MGlobal MarketsPositive developments in U.S.-China trade talks boosted risk appetite in global markets. Following this news, major U.S. indices rose between 0.3% and 0.6% yesterday. The S&P 500 closed up 0.3% at 6,038, inching closer to the all-time high of 6,147. Sector-wise, the S&P 500 Energy Index led gains with a 1.8% increase, while the Industrials Index was the only loser, down 0.4%.European markets opened flat today, and U.S. indices are expected to open slightly lower. On the macroeconomic front, the key highlight is the U.S. CPI data at 3:30 PM Turkish time. Expectations are for a 0.3% rise in core CPI and a 0.2% increase in headline CPI. These results will be crucial for the Fed's interest rate policy. Oracle (ORCL) earnings are also in focus.Technically, for the S&P 500, the first resistance level is 6,159, with 5,982 acting as support in case of a pullback.The World Bank released its June 2025 Global Economic Outlook Report, warning that rising protectionism and trade tensions are hindering global recovery. It downgraded its global growth forecast for 2025 from 2.7% to 2.3%, marking the lowest rate since the 2008 financial crisis. It also noted that the 2020s could be the weakest decade since the 1960s, with an average growth of 2.5%.On a country basis, the U.S. 2025 growth forecast was cut by 0.9 points to 1.4%. The Eurozone's was revised down by 0.3 points, and Mexico’s by 1.3 points. Turkey’s forecast was raised by 0.5 points to 3.1%, driven by stronger-than-expected Q4 2024 data and falling oil prices.In summary, the main focus today is U.S. inflation data. A lower-than-expected print could strengthen expectations for earlier Fed rate cuts, potentially supporting positive market sentiment.Most Valuable Companies & Stock PricesNVIDIA (NVDA): $3.51 trillion market cap, $143.96 per share, up 0.93%Microsoft (MSFT): $3.5 trillion market cap, $470.92 per share, down 0.39%Apple (AAPL): $3.03 trillion market cap, $202.67 per share, up 0.61%Amazon (AMZN): $2.31 trillion market cap, $217.61 per share, up 0.29%Alphabet (GOOG): $2.18 trillion market cap, $180.01 per share, up 1.34%Borsa IstanbulDomestically, the Treasury reported a cash surplus of 247.1 billion TRY in May. The cumulative budget deficit for the first five months of the year narrowed to 838.1 billion TRY. The primary balance posted a surplus of 348.6 billion TRY in May, bringing the year-to-date deficit down to 63 billion TRY—indicating strong fiscal performance.In yesterday’s auctions, the Treasury borrowed a total of 97.9 billion TRY including non-competitive bids (ROT). The 9-month T-bill auction yielded an average annual compound interest rate of 46.81%, while the 4-year fixed coupon bond saw a yield of 37.88%.Markets continue to price in a potential rate cut at the June 19 CBRT meeting. The central bank’s recent resumption of high-volume weekly repo auctions lowered the average funding cost by over 40 basis points to 48.6%, reinforcing rate cut expectations.Bond yields dropped in line with this trend. The 2-year bond yield fell to 42.7%, the lowest since March 20, while the 10-year yield dropped roughly 40 basis points to 33%. Turkey’s CDS also improved, falling to 294 basis points.Banking stocks were the biggest beneficiaries of falling rates, with the banking index rising 5.0% yesterday, making the strongest contribution to the BIST 100’s 1.8% gain. Trading volume also increased. Despite this, bank stocks still trail the main index by about 4% YTD. With the rate cut expectation in place, banking stocks are likely to maintain their strength.Today, the BIST 100 is expected to close above the 100- and 200-day moving averages in the 9,600–9,700 band. Technically, the index maintained its upward momentum after a strong open, closing at 9,659. This confirms a breakout above not only the 50-day average but also the 100- and 200-day moving averages. With the break above the 9,475 resistance, a new upward trend has begun, targeting the 9,740–9,770 range. A sustained close above this range could set the stage for a move toward the 10,000 level.Most Valuable Companies on Borsa IstanbulQNB Finansbank (QNBTR): 899.48B TRY market cap, 268.50 TRY per share, no changeAselsan (ASELS): 634.75B TRY market cap, 139.40 TRY per share, up 0.14%Garanti Bank (GARAN): 513.66B TRY market cap, 121.80 TRY per share, down 0.41%Turkish Airlines (THYAO): 401.58B TRY market cap, 290.00 TRY per share, down 0.34%Koç Holding (KCHOL): 381.91B TRY market cap, 152.30 TRY per share, up 1.13%Precious Metals & Currency PricesGold: 4,205 TRYSilver: 46.03 TRYPlatinum: 1,588 TRYUSD: 39.18 TRYEUR: 44.78 TRYSee you tomorrow with more updates and market news!
The SEC Has Received Bitwise's Bitcoin and Ethereum ETF Application for Review
Another Major Step Taken in the Crypto MarketBitwise’s ETF application that includes both Bitcoin and Ethereum has been officially taken into the review process by the U.S. Securities and Exchange Commission (SEC). This is not just a new investment product but a critical turning point for the overall direction of the sector.Two Giants, In One BasketBitwise’s proposed ETF gives investors the opportunity to invest simultaneously in both Bitcoin and Ethereum. The fund’s composition is allocated according to market capitalization. The current ratios are approximately 83% Bitcoin, 17% Ethereum. In other words, two strong assets come together in a single product.This structure could be appealing especially for institutional investors who are cautious about crypto. It both provides diversification and offers the chance to enter the market via a regulated instrument.What Does the SEC Process Mean?The SEC has started reviewing the rule change application submitted via NYSE Arca. During this process, a critical question is being asked: “Is this ETF adequately secure against market manipulation?”The commission will primarily seek public feedback:General comments will be collected within the first 21 days.Then, opposing opinions can be submitted over 35 days.This evaluation will affect not only the Bitwise file but also other potential ETF applications that include Ethereum.Why Is This So Important?Because this is the first ETF application that includes both Bitcoin and Ethereum together. The SEC’s approach to this application will guide future dual or hybrid ETFs.If approved, it will make institutional investors’ access to crypto markets even easier.If rejected, it will indicate that the SEC is still moving cautiously.Bitwise’s file is a serious reference point for players in the sector. Similar applications from major names like Gemini, BlackRock, Grayscale are also on the agenda. For that reason, Bitwise’s application is not standalone; it may create a chain reaction.The crypto market is growing, maturing. Every step the SEC takes now is not just regulatory but plays a direction-setting role. Bitwise’s ETF application, in that sense, is a development that takes the pulse of the sector.Now eyes are on the SEC. The decision to be given will shape not only this ETF but the future of crypto investment products. Expectations are high; its impact will be substantial.
Daily Market Summary with JrKripto
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 overall market conditions together and review the latest assessments.Bitcoin had previously fallen to $101,150 after losing the $104,977 support during its decline from the rising trend. However, strong buying from the $101,059–$100,063 range allowed a rebound, and BTC broke upward from the short-term descending channel. Currently trading around $109,200, this breakout has shifted its technical outlook back into positive territory.In the days ahead, the $109,588 resistance is critical. If this level is surpassed, targets may extend first to the all-time high of $111,980 and then to $114,500. On the downside, $106,794 and $104,977 have now become strong support levels. Maintaining these supports is important for keeping the BTC outlook positive.Ethereum similarly broke upward out of its descending channel. Having declined from $2,838 down to the $2,385 support, ETH bounced strongly and is now trading around $2,670.For the bullish momentum to continue, ETH needs to break above the $2,711 resistance. If it stays above this level, the next targets could be $2,838 and $3,004. On the downside, the $2,385 support continues to be watched closely—breaking below it could deepen the decline.Crypto NewsHassett: The U.S. will lift export controls if talks progress positively.Strategy announced it purchased 1,045 BTC.South Korea’s new president is preparing to propose legislation this week to allow major banks to adopt Bitcoin and other cryptocurrencies.Trump approved U.S. Treasury Secretary Bessent increasing technology export controls and is encouraging negotiators to consider lifting export controls in China talks.CBOE submitted a proposal to allow staking in the Invesco Galaxy Ethereum ETF.Canary Marinade registered a Solana ETF in Delaware.U.S. Commerce Secretary Lutnick: U.S.–China talks were productive.Trump: “I didn’t think about calling Musk. I wouldn’t have a problem talking to him. I think Musk will want to talk to me.”Top Crypto MoversGainers:AXL → +86.4% to $0.60299MOG → +28.7% to $0.00000109AIOZ → +23.2% to $0.40169NEIRO → +19.7% to $0.0004936FARTCOIN → +17.3% to $1.25Losers:KTA → –25.0% to $1.26ZBCN → –9.5% to $0.00412637KET → –5.1% to $0.50306524LEO → –3.6% to $8.82BDX → –2.5% to $0.06147175Fear IndexBitcoin: 66Ethereum: 53DominanceBitcoin: 64.49% ▼ 0.23%Ethereum: 9.62% ▲ 0.81%Daily Net ETF FlowsBTC ETFs: +$386.20 millionETH ETFs: +$52.70 millionGlobal MarketsOn the first trading day of the week, U.S. markets closed with limited gains: S&P 500 +0.1%, Nasdaq +0.3%, Dow Jones flat. Tesla (+4.5%) lifted the S&P Consumer Discretionary Index, making it the best-standing sector. Insurer stock sell-offs dragged the Financials Index –0.5%, the worst-performing sector. U.S. and EU futures remained flat.Investors are focused on President Trump’s speech scheduled for 23:00 TRT and GameStop’s Q2 earnings after market close.S&P 500 technical levels: support at 5,962; resistance at 6,134. If it breaks down, next support is 5,872; if up, next resistance 6,164.Markets also watch London U.S.–China trade talks. Futures show modest gains; VIX ended +0.4 to 17.2.China posted weak export data: May exports rose only 4.8% YoY to $316.1 billion (vs. 6.0% expected). Exports to the U.S. fell 35%, the steepest drop in five years. Exports to other markets rose 11%; imports declined 3.4%. The U.S. trade surplus with China shrank 41.6% to $18 billion.The second round of U.S.–China trade talks resumed in London yesterday and is closely monitored.Top Cap Companies & Stock PricesMicrosoft (MSFT): $3.51T market cap, $472.75/share, +0.50%NVIDIA (NVDA): $3.48T market cap, $142.63/share, +0.64%Apple (AAPL): $3.01T market cap, $201.45/share, –1.21%Amazon (AMZN): $2.30T market cap, $216.98/share, +1.60%Alphabet (GOOG): $2.15T market cap, $177.63/share, +1.55%Borsa İstanbulIn Istanbul, inflation came in below market expectations in May, strengthening the chance of a rate cut at the June 19 MPC meeting, boosting investor appetite and foreign inflows. Yet macro and external risks may limit the BIST 100’s ability to break the 9,800–10,000 resistance band.Today, Turkey will release May Treasury cash balances and hold auctions for 9-month bills, 4-year fixed-rate, and 7-year floating rate bonds.The BIST, closed for the past 2½ trading days, now sees recent gains abroad. This week’s key events for both global and local markets are the London U.S.–China negotiations, followed by the Fed’s June 18 rate decision and central bank meeting on June 19, both potentially increasing volatility. A positive BIST open and follow-through momentum are expected today.BIST 100 technical outlook: The index bounced from a dip to 9,422 and closed at 9,487, supported by strong support around 9,148–8,965. As long as it holds above this, the 9,475–9,500 zone remains a near-term target. Closing above 9,500 could trigger a new optimism wave, pushing toward 9,740–9,770.Top Borsa İstanbul Companies by Market CapQNB Finansbank (QNBTR): ₺873.51 billion market cap, ₺261.00/share, +0.10%Aselsan (ASELS): ₺636.12 billion market cap, ₺138.00/share, –1.08%Garanti Bank (GARAN): ₺487.62 billion market cap, ₺119.60/share, +3.01%Turkish Airlines (THYAO): ₺395.37 billion market cap, ₺291.50/share, +1.75%Koç Holding (KCHOL): ₺376.58 billion market cap, ₺150.90/share, +1.62%Precious Metals & FX RatesGold: ₺4,177Silver: ₺46.07Platinum: ₺1,532USD: ₺39.29EUR: ₺44.82See you tomorrow with today’s updates!
CBOE Wants to Add Staking Feature to Invesco Galaxy ETH ETF
U.S.-based CBOE (Chicago Board Options Exchange) has submitted an official proposal requesting permission for staking in the Invesco Galaxy Ethereum ETF. This step could mark a new chapter in opening Ethereum to institutional investors through ETFs.Why Is This Proposal Important?Currently, among the approved spot Ethereum ETFs in the U.S., none allows staking. If accepted, CBOE’s proposal would make the Invesco Galaxy Ethereum ETF the first of its kind in the market. In other words, investors would be able to benefit not only from ETH price movements via the ETF but also from on-chain staking rewards.This development would diversify potential sources of returns for ETF investors and provide an investment vehicle that more closely reflects Ethereum’s native features.A More Attractive ETH ETF for Institutional InvestorsIntegrating staking into the ETF would be a major advantage, especially for long-term institutional investors. This would position Ethereum not only as a speculative asset but also as a “productive digital asset” that generates yield.The fact that giants like Invesco and Galaxy are taking this step further reinforces institutional confidence in Ethereum. It’s worth noting that these ETF products were previously approved by the SEC as spot-based ETFs. However, staking integration is still considered a gray area in terms of regulation.What Does the SEC Think About This?Staking has been a subject of debate between the U.S. Securities and Exchange Commission (SEC) and crypto companies for years. The SEC has evaluated some staking services as securities offerings and has taken a more cautious approach, especially toward third-party staking mechanisms.Whether or not the CBOE proposal is accepted will not only determine the future of this ETF but also influence the roadmap for similar products. If the SEC shows signs of softening its stance on staking, it would be a highly positive signal for the entire crypto market.Approval of CBOE’s staking proposal for the Invesco Galaxy Ethereum ETF could be a critical inflection point in the structural evolution of crypto ETFs. This development is of great interest not only to Ethereum investors but to all market participants.If the proposal passes, Ethereum ETFs will not only passively track prices but also integrate on-chain yield generation. For institutional investors, this would be a significant step forward in Ethereum’s financial evolution.
ETH Comments and Price Analysis 9 June 2025
Ethereum Technical Analysis – Triangle Formation Breaks UpwardEthereum has broken out upward from a converging triangle formation on the 4-hour chart. The price is currently at $2,619, and it continues to gain momentum following the breakout. This move indicates that short-term momentum has shifted in favor of ETH. ETH Current Breakdown The triangle structure, which had been forming for about a month, was created by rising lows and descending highs. The breakout following this consolidation shows that the period of indecision in the market has ended and buyers have taken control.The resistance line where the breakout occurred—between $2,570 and $2,580—should now be watched as a support zone. As long as ETH remains above this level, its upward potential will stay strong.In terms of technical targets:First resistance: $2,657Then: $2,732 and $2,788These levels should be tracked as the upper targets of the triangle formation. Especially closes above $2,732 could accelerate the rally.On the downside, the levels to defend in potential pullbacks are $2,518 and the broken triangle support at $2,480.In summary:ETH has broken upward from a triangle pattern; the technical outlook is positive.The $2,570 level is now support—staying above it keeps the trend bullish.Targets: $2,657, $2,732, and $2,788.In pullbacks, $2,518 should hold; otherwise, the breakout could prove false.
Daily Market Summary with JrKripto 9 June 2025
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 evaluations.Bitcoin (BTC) dropped as low as $101,150 after breaking down from the ascending channel on the 4-hour chart and losing the $104,977 support. This decline, supported by high-volume selling, was also influenced by the political tension between Trump and Musk. However, with a strong reaction from the $101,059–$100,063 zone, the price is now around $103,200.Holding this support zone increases the likelihood of a recovery. In upward moves, the $102,137 and especially the $104,977 resistance levels are important. Without a break above $104,977, it’s difficult to talk about a sustained rise. Otherwise, $96,914 and $96,115 levels could come back into play.Ethereum (ETH) declined from the $2,838 level down to the $2,385 support. With a bounce from this zone, it is now trading around $2,460. The $2,385 level continues to be monitored as strong support. If this level is breached, the $2,098 and $2,004 support levels may come into focus.For upward recovery to gain strength, the $2,711 resistance must be broken first. If this level is broken, $2,838 may be targeted again. Holding above $2,385 is critical for the continuation of the positive scenario.Crypto NewsTether minted $1 billion in USDTNasdaq filed a SEC Form 8-K proposing to expand its crypto benchmark index from 5 to 9 assets, adding $XRP, $SOL, $ADA, and $XLMPresident Trump said his relationship with Elon Musk is over$1.5 trillion Deutsche Bank is considering launching its own crypto stablecoinPresident Trump: “We’ve made a lot of progress on the 🇺🇸🇨🇳 China deal”Eric Trump announced a partnership between World Liberty Financial and the $TRUMP meme coinCrypto company Gemini submitted a confidential IPO application in the U.S.Top Gainers in CryptocurrenciesRVN → Up 16.5% to $0.01812467KAIA → Up 15.6% to $0.12306084ICP → Up 10.3% to $5.85FARTCOIN → Up 8.3% to $1.08KTA → Up 8.2% to $1.62Top LosersEVOLVE → Down 91.1% to $0.0000292DEXE → Down 16.7% to $8.85EOS → Down 11.2% to $0.56714183LPT → Down 8.7% to $7.55ZBCN → Down 7.0% to $0.00446442Fear IndexBitcoin: 60 (Greed)Ethereum: 50 (Neutral)DominanceBitcoin: 64.63% ▲ 0.09%Ethereum: 9.27% ▼ 0.45%Daily Net ETF FlowsBTC ETFs: -$47.80 millionETH ETFs: $25.30 millionGlobal MarketsGlobal markets are starting the week with cautious optimism, focusing on the high-level U.S.–China trade talks beginning in London. While Asian stock markets are rising, U.S. and European futures are showing slight declines. A mixed trend prevails in U.S. markets: strong employment data (139,000 new jobs) supported a recovery in tech stocks, but Tesla and other sensitive stocks remain volatile.On the macro front, signs of a slowdown in the U.S. economy continue: ADP private sector employment rose by only 37,000 in May, and the ISM services PMI fell to 49.9, indicating contraction. Eurozone services PMI data fell to 49.7 in May, and the ECB conducted its eighth interest rate cut of the year.Asian markets, meanwhile, are showing positive sentiment. The MSCI Asia-Pacific Index rose by 0.7%, Nikkei by 0.9%, and Hang Seng by 0.8–1.4%. Gold rose by 0.4% due to safe-haven demand, reaching around $3,323.7/oz, while platinum is also recovering. Oil prices slightly declined due to weak data from China (WTI ~$64.43, Brent ~$66.29), but are supported by hopes surrounding U.S.–China talks.The OECD has revised its global growth forecasts for 2025–2026 downward from 3.3% to 2.9%. U.S. growth is expected to fall to 1.6%, and China’s to 4.3% from 4.7%. This week, markets are focused on U.S. CPI and non-farm payroll data, post-ECB European bond yields, and tangible signals from the trade talks in London.Overall, while risk appetite is supported by strong jobs data and the U.S.–China talks, weak economic indicators and geopolitical uncertainty suggest that cautious pricing will continue.Most Valuable Companies and Stock PricesMicrosoft (MSFT) → $3.5 trillion market cap, $470.38 per share, +0.58%NVIDIA (NVDA) → $3.46 trillion market cap, $141.72 per share, +1.24%Apple (AAPL) → $3.05 trillion market cap, $203.92 per share, +1.64%Amazon (AMZN) → $2.27 trillion market cap, $213.57 per share, +2.72%Alphabet (GOOG) → $2.11 trillion market cap, $174.92 per share, +3.01%Precious Metals and Exchange RatesGold: 4,189 TLSilver: 45.82 TLPlatinum: 1,526 TLDollar: 39.22 TLEuro: 44.90 TLSee you again tomorrow with the latest updates!
ETH Comments and Price Analysis 6 June 2025
Ethereum (ETH) Daily AnalysisDespite the selling pressure of recent days, Ethereum has once again managed to defend the $2,385 support. Currently, the price is trading around $2,484, and in the technical outlook, recovery signals are increasingly strengthening. Especially the preservation of this area after the break of the downtrend indicates that the upward structure is still valid.$2,385 has been an important reversal area since March. The price has received a clear reaction from this level three times. This shows that buyers are seriously defending this area. With the reaction coming from here, ETH tends to head again towards the $2,711 resistance. If this level is broken with volume, the $2,838 and $3,004 levels successively appear as targets. Especially closings above $3,004 can enable the medium-term upward trend to gain momentum again.Technically important levels:Supports: $2,385, $2,098, and $2,004Resistances: $2,711, $2,838, and $3,004On the fundamental side, the picture is complex but not entirely negative:ETF Process: Ethereum spot ETF applications are still under SEC review. Although the delays may seem negative, in the event of a positive outcome, there may be significant fund inflows into ETH.Musk–Trump Tension: Musk's taking a clear position against political pressure and Trump's statements have created short-term stress in technology and crypto-focused investments. However, the impact of this is more dominant on BTC; the ETH side remains relatively more resilient.On-Chain Activity: Although gas fees remain low, transaction volume is slowly recovering with Layer-2 solutions. There is also stability on the staking side after ETH 2.0.As a result, Ethereum has technically recovered from a strong support and is creating space for upward attempts. Although short-term uncertainties persist, both the technical structure and fundamental developments support a move towards above $2,711. However, a clear development may be necessary to surpass this level.In summary:ETH received a strong reaction from the $2,385 support.Closings above $2,711 may accelerate upward momentum.ETF expectation and chain recovery support the positive scenario.The market is currently waiting for a clear breakout; the positive structure is preserved but resistance levels must be surpassed for confirmation.
Daily Market Summary with JrKripto 6 June 2025
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 overall market conditions together and review the latest insights.Bitcoin (BTC), after starting its long-term uptrend at $75,930 and reaching an all-time high (ATH) of $111,980, faced strong profit-taking. The downward break of the ascending channel on the 4-hour chart, followed by the loss of the $104,977 support, pushed the price quickly down to around $101,150. This drop, accompanied by high-volume selling across the last four candles, signals more than a mere technical breakdown—it indicates a decisive wave of selling. Additionally, the political tension between U.S. President Trump and Elon Musk has increased market uncertainty, further supporting the bearish pressure.BTC is currently trading around $103,200, with the $101,059–$100,063 range standing out as a strong support zone. This area previously attracted buying interest and is once again showing signs of buyer re-entry. If this zone fails to hold, the next levels to watch are $96,914 and $96,115. On short-term recoveries, the $102,137 and especially the $104,977 levels should be monitored as resistance. As long as these levels remain unbroken, upward moves are likely to stay limited. However, the price has shown a notable reaction from the current support zone, increasing the probability of a short-term rebound.Ethereum (ETH) tested $3,004 after climbing from $1,486, but has since entered a correction and is now trading at $2,460. Technically, the $2,385 level acted as critical support and sparked a significant bounce, though price action remains close to this zone. If this support fails, $2,098 and $2,004 are the next levels to follow.For bullish momentum to resume, ETH must break above the $2,711 resistance. If this level is cleared, targets include $2,838 and $3,004. Like BTC, ETH has also seen a meaningful bounce from support. Sustaining above $2,385 is essential to maintain the positive outlook.Crypto NewsThe European Central Bank (ECB) implemented a 25bp rate cut.Chinese state media reported a conversation between President Trump and President Xi.BounceBit added support for $USD1, the stablecoin of World Liberty Financial.Circle, issuer of USDC, saw its stock surge 200%, rising from its $31 IPO price to $94.41.Uber is reportedly exploring the use of stablecoins as a payment method.World Liberty Financial sent a cease and desist notice to Fight Fight Fight LLC, the issuer of the Trump memecoin.Truth Social registered Bitcoin and Ethereum ETFs in Nevada.Tesla lost $150 billion in market cap, marking the biggest loss in the company’s history.Top Gainers in CryptoFARTCOIN → Up 15.6% to $1.04COMP → Up 12.9% to $49.36LA → Up 6.1% to $1.54GRASS → Up 4.5% to $1.99KTA → Up 4.4% to $1.08Top Losers in CryptoRVN → Down 34.6% to $0.01458774LDO → Down 11.3% to $0.7718249TRUMP → Down 10.4% to $9.72JUP → Down 9.6% to $0.46357394DOG → Down 9.1% to $0.00425333Fear IndexBitcoin: 51Ethereum: 41DominanceBitcoin: 64.56% ▲ 0.01%Ethereum: 9.35% ▲ 0.24%Daily Net ETF FlowsBTC ETFs: -$278.40 millionETH ETFs: $11.30 millionKey Economic Data to Watch Today15:30 – Average Hourly Earnings (MoM) (May)Forecast: 0.3% / Previous: 0.2%15:30 – Non-Farm Payrolls (May)Forecast: 126K / Previous: 177K15:30 – Unemployment Rate (May)Forecast: 4.2% / Previous: 4.2%Global MarketsAs of the morning of Friday, June 6, 2025, global markets are preparing to end the week with cautious optimism. The resumption of high-level trade talks between the U.S. and China has supported global risk appetite, though weak economic data and political tensions are keeping investors cautious.U.S. stock markets have shown a volatile trend. Tesla shares fell sharply after Donald Trump criticized Elon Musk. Trump's statement that he may cancel government contracts with Musk’s companies increased selling pressure on tech stocks. Following this, the Nasdaq declined, while the S&P 500 and Dow Jones ended the day with slight losses.On the macro front, weak data stood out. The ADP private sector employment report showed an increase of only 37,000 jobs in May—the lowest since March 2023. Meanwhile, the ISM services PMI fell to 49.9, signaling contraction in the services sector. These indicators suggest a deepening slowdown in the U.S. economy.In Europe, the ECB delivered its eighth rate cut of the year. However, the Eurozone services PMI also dropped to 49.7 in May, reinforcing signs of ongoing economic weakness in the region.Asian markets are performing more positively. China’s services PMI exceeded expectations, boosting buying appetite, especially in the Hong Kong and Japanese markets. Regional markets began the final trading day of the week on a strong note.Meanwhile, the OECD revised its global economic growth forecasts downward. Growth expectations for both 2025 and 2026 have been updated to 2.9%. The report cited uncertainty in trade policy, tightening financial conditions, weakening consumer confidence, and rising political risks as serious threats to growth.Today, global market attention will focus on the U.S. non-farm payrolls data. A weaker-than-expected figure could strengthen expectations for an earlier rate cut by the Fed. However, continued geopolitical tensions and weak economic indicators suggest cautious market sentiment will persist.Most Valuable Companies and Stock PricesMicrosoft (MSFT) → $3.48 trillion market cap, $467.68 per share, +0.82%NVIDIA (NVDA) → $3.42 trillion market cap, $139.99 per share, -1.36%Apple (AAPL) → $3 trillion market cap, $200.63 per share, -1.08%Amazon (AMZN) → $2.21 trillion market cap, $207.91 per share, +0.33%Alphabet (GOOG) → $2.05 trillion market cap, $169.81 per share, +0.25%Precious Metals and Exchange RatesGold: 4,245 TLSilver: 45.66 TLPlatinum: 1,475 TLUSD: 39.29 TLEUR: 44.91 TLSee you again tomorrow with more market updates!
Daily Market Summary with JrKripto 4 June 2025
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 overall market conditions together and review the latest insights.Bitcoin (BTC) extended its long-term uptrend from $75,930 to reach an all-time high (ATH) of $111,980. Following this peak, it pulled back due to profit-taking and is currently trading around $105,000. On the technical side, $104,629 stands out as the first major support level. If this area is breached, $101,059 and then $96,115 should be monitored as the next support zones. For the upward recovery to gain traction, it is critical for BTC to surpass the $109,588 resistance. If this resistance is broken, $111,980 and then $114,500 may be targeted once again. Maintaining price action above $104,629 is important to preserve the positive trend.Ethereum (ETH), after starting a strong rally from $1,486 and reaching a peak of $3,004, has entered a correction phase and is currently trading at $2,620. The price holding above the $2,385 support level is helping to limit selling pressure; however, if this level is breached, $2,098 and $2,004 will become the next support zones. For the upward momentum to continue, ETH must break the $2,711 resistance level. Once this is achieved, the targets will be $2,838 and $3,004. The continuation of the positive outlook for ETH hinges on its ability to remain above $2,385.Crypto NewsFed member Bostic said a rate cut this year may be possible depending on the state of the economy.Treasury Secretary Bessent said it’s up to China to decide whether it wants to be a reliable partner.North America-based civil engineering firm SolarBank adopted a Strategic Bitcoin Reserve.Trump is set to launch a branded crypto wallet and trading app encouraging supporters to buy memecoins and other crypto assets.Magic Eden’s $ME partnered with Trump Wallet.Top GainersCOMP → Up 15.2% to $47.60BORG → Up 15.1% to $0.20837302ZBCN → Up 11.2% to $0.0052459ATH → Up 10.6% to $0.05030066APE → Up 9.3% to $0.74851906Top LosersKAITO → Down 9.7% to $1.71POPCAT → Down 9.1% to $0.37289158IOTX → Down 7.6% to $0.02169712FARTCOIN → Down 7.5% to $1.05PENGU → Down 6.8% to $0.01021654Fear IndexBitcoin: 63Ethereum: 54DominanceBitcoin: 63.99% ▼ 0.27%Ethereum: 9.71% ▲ 1.18%Daily Net ETF FlowsBTC ETFs: $375.10 millionETH ETFs: $109.50 millionKey Data to Watch Today15:15 – ADP Non-Farm Employment Change (May)Forecast: 111K / Previous: 60K16:45 – Services Purchasing Managers’ Index (PMI) (May)Forecast: 52.3 / Previous: 50.817:00 – ISM Non-Manufacturing PMI (May)Forecast: 52.0 / Previous: 51.617:00 – Job Openings and Labor Turnover Survey (JOLTS) (April)Forecast: 7.110M / Previous: 7.192M17:30 – EIA Crude Oil InventoriesForecast: -2.900M / Previous: -2.795MGlobal MarketsGlobal stock markets are starting the day on an optimistic note. Expectations for high-level negotiations between the US and China have boosted risk appetite. US stock markets continued to rally, led by tech stocks, with the Nasdaq Index turning positive year-to-date. Yesterday, the Nasdaq rose 0.81%, the S&P 500 increased by 0.58%, and the Dow Jones added 0.51%, all closing in positive territory. The small-cap Russell 2000 Index gained 1.59%, supported by strong performances in regional banks and biotech stocks.Eight of the eleven sectors in the S&P 500 ended the day in the green. The technology sector performed best with a 1.48% gain, followed by energy (1.11%), materials (0.97%), and industrials (0.76%). On the other hand, telecommunications (-0.75%), real estate (-0.39%), and consumer staples (-0.15%) underperformed.On the macroeconomic front, the JOLTS job openings for April came in at 7.40 million, beating expectations of 7.11 million. However, factory orders shrank by 3.7%, exceeding the expected 3.1% decline. Today, the market focus is on the US ADP private sector employment data and the ISM services PMI. The ISM services index rose to 51.6 in April and is expected to increase slightly to 52 in May. Asian markets opened on a positive note, and European markets are also expected to open higher.Meanwhile, the OECD revised its “Global Economic Outlook” downward. The global growth forecast for 2025 was lowered from 3.1% to 2.9%, and the 2026 forecast from 3.0% to 2.9%. The US growth forecast for this year was cut from 2.2% to 1.6%, and the 2026 forecast from 1.6% to 1.5%. The report highlighted that uncertainties in trade policy, tight financial conditions, weakening consumer and business confidence, and rising political risks pose major threats to growth. New tariffs could increase trade costs and fuel inflation, although falling commodity prices might partially offset this.Growth forecasts for Turkey were also revised downward. The OECD cut Turkey’s 2025 growth forecast from 3.1% to 2.9%, and its 2026 forecast from 3.9% to 3.3%. Today, key international data include the US ISM services report, ADP employment report, and Eurozone Services PMI—all closely watched by markets.Top Companies by Market Cap and Stock PricesNVIDIA (NVDA) → $3.45 trillion market cap, $141.22 per share, +2.80%Microsoft (MSFT) → $3.44 trillion market cap, $462.97 per share, +0.22%Apple (AAPL) → $3.04 trillion market cap, $203.27 per share, +0.78%Amazon (AMZN) → $2.18 trillion market cap, $205.71 per share, -0.45%Alphabet (GOOG) → $2.02 trillion market cap, $167.71 per share, -1.56%Borsa IstanbulDomestically, the May CPI came in at 1.53% monthly—closer to our forecast (1.8%) and well below the market expectation (around 2.1%). This result aligns with the Central Bank’s inflation trajectory as outlined in its latest Inflation Report. Consequently, annual inflation dropped 2.5 points from the previous month to 35.4%. Our seasonally adjusted monthly inflation came in at 1.7%, showing about a 1-point improvement from April. Core inflation indicators also declined significantly: the B index annual inflation fell to 34.8%, and the C index to 35.4%. These developments signal continued downward momentum in inflation and improving pricing behavior, though a cautious stance remains warranted.Lower-than-expected inflation has increased the likelihood of a rate cut at the June Monetary Policy Committee (MPC) meeting. This triggered strong buying in banking stocks; yesterday the banking index rose by an average of 5.7%, and the BIST 100 gained 3.0%, closing at 9,277 points. Since the banking sector has underperformed the benchmark index by about 6% year-to-date, it may continue to recover this gap amid rate cut expectations. Additionally, pre-holiday settlement advantages also contributed to yesterday’s strong gains. Market attention is now turning to the June 19 MPC meeting.Technically, the BIST 100 showed a strong rebound after the previous two-day decline, recovering just below the support level. The 9,148–8,965 range remains a key support zone. If the index continues to trade above this band, a move toward 9,475–9,500 could be seen. The 9,325 level serves as interim resistance, and a close above 9,475/9,500 would signal short-term optimism, potentially targeting the 9,740–9,770 resistance area next. Key technical support levels for BIST 100 are 9,148/9,044, 8,965, 8,870, and 8,611; resistance levels are 9,325, 9,475/9,500, 9,588, and 9,740.Overall, a balanced sectoral performance with a continued upward trend is expected in Borsa Istanbul today.Top Companies by Market Cap in Borsa IstanbulQNB Finansbank (QNBTR) → 860.11 billion TL market cap, 260.25 TL/share, +1.36%Aselsan Electronic Industry (ASELS) → 581.86 billion TL market cap, 131.80 TL/share, +3.29%Garanti Bank (GARAN) → 478.8 billion TL market cap, 114.80 TL/share, +0.70%Turkish Airlines (THYAO) → 391.57 billion TL market cap, 284.75 TL/share, +0.35%Koç Holding A.Ş. (KCHOL) → 382.41 billion TL market cap, 149.40 TL/share, -0.93%Precious Metals and Exchange RatesGold: 4,231 TLSilver: 43.18 TLPlatinum: 1,369 TLUSD: 39.13 TLEUR: 44.59 TLSee you again tomorrow with more market updates!
ETH Comments and Price Analysis 3 June 2025
ETH Short Term Technical AnalysisEthereum has returned to the ascending channel structure. In the previous analysis, the channel subband was broken and the technical pressure was prominent. However, the price both received a clear reaction from the $ 2,467 level and re-entered the channel with strong volume. It is currently trading at $2,619 and the outlook has improved compared to the previous analysis. ETH Rising Channel The return to the channel is technically positive. Such returns, especially if they come with strong volume, indicate that buyers are taking back control. The $2,595 -$2,565 zone is now working as support. If this region is protected, it can be expected that the upward movement will continue.If the rise continues, the first resistance to be considered is $ 2,660. If this is exceeded, the levels of $ 2,717 and $2,788 become the target in the short term. Especially the closures above $ 2,717 can move the price towards the upper band of the channel. That area also corresponds to approximately $2,840 levels.The December range of $2,595 –$2,565 below is the first line of defense. If this zone is lost, the probability that the price will move back to the support of $ 2,467 increases. But for the moment, the movement within the channel indicates that the bearish scenario is weakening.In summary, Ethereum seems to have ended the decline in the short term. As long as in-channel pricing continues, the technical outlook remains positive. If strong buyer interest continues in this region, the $2,660, $2,717 and $2,788 levels may be tested gradually. If it is below $ 2,595, closures below require being cautious again.
Daily Market Summary with JrKripto 3 June 2025
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 general market conditions together and take a look at the latest assessments.Bitcoin (BTC), which began its long-term uptrend from $75,930 and reached an all-time high of $111,980, has pulled back to $105,170 due to profit-taking. Technically, $104,629 stands out as the first support level, and if this level is breached, $101,059 and $96,115 will be the next supports to watch. For the upward recovery to gain momentum, breaking above $109,588 is critical. If this resistance is surpassed, $111,980 and then $114,500 could come back into play.Ethereum (ETH) extended its rally from $1,486 up to $3,004 before entering a correction and is currently trading at $2,610. The price is still holding above the $2,385 support, but if it dips below this level, $2,098 and $2,004 will be the next support levels. To continue its upward movement, ETH must break the $2,711 resistance. If this level is breached, $2,838 and $3,004 could be targeted again. Overall, as long as ETH stays above $2,385, the bullish scenario remains valid.Crypto NewsRussia and Ukraine have started second-round peace talks in Turkey.Webus signed a $300 million XRP treasury deal with Samara Alpha.Strategy announced it has purchased 705 BTC.Hong Kong-based Reitar Logtech disclosed to the SEC plans to purchase up to $1.5 billion in BTC to increase reserves and hedge against financial volatility.Michael Saylor’s company Strategy announced an IPO of STRD shares to raise funds for more #Bitcoin purchases.Turkey’s Consumer Price Index for May came in at 1.53% monthly, dropping to 35.41% annually.Top Gainers in CryptocurrenciesSYRUP → Up 16.4% to $0.43140794MKR → Up 16.2% to $1,822.75MOODENG → Up 15.7% to $0.21847194WIF → Up 15.4% to $0.97770381POPCAT → Up 14.1% to $0.40991055Top Losers in CryptocurrenciesDEXE → Down 34.1% to $9.30ZBCN → Down 18.1% to $0.00495409SAROS → Down 4.6% to $0.2013825TAO → Down 4.1% to $392.19VANA → Down 3.9% to $6.68Fear IndexBitcoin: 63Ethereum: 52DominanceBitcoin: 64.05% ▼ 0.31%Ethereum: 9.66% ▲ 0.52%Daily Net ETF FlowsBTC ETFs: -$267.50 millionETH ETFs: $78.20 millionData to Watch TodayTime: 17:00 – Job Openings and Labor Turnover Survey (JOLTS) (Apr)Expectation: 7.110M / Previous: 7.192MGlobal MarketsDespite escalating trade tensions between the US and China, US stock markets closed the day higher. The S&P 500 rose by 0.41%, the Nasdaq by 0.67%, and the Dow Jones by 0.08%. The “Magnificent Seven” tech giants outperformed with a 0.73% gain. Meanwhile, there was selling pressure in the bond market and the US Dollar Index.Rising geopolitical risks, especially the renewed Russia-Ukraine conflict, have pushed investors toward safe-haven assets like gold and silver. Concerns over Russian oil supply also pushed oil prices higher. Seven of the eleven sectors in the S&P 500 posted gains. The healthcare sector (+0.96%) and consumer staples (+0.42%) performed best, while the energy sector lagged behind with a 1.55% loss.The US ISM Manufacturing PMI for May confirmed a slowdown in the economy, falling to 48.5—below the expected 49.5—and remained in contraction territory for the third straight month. Although there was a partial recovery in production and employment components, overall contraction persists. Business leaders noted that tariffs and uncertainty are negatively impacting foreign orders.Meanwhile, positive signals about potential rate cuts have started to emerge from Fed officials. After Governor Waller, Chicago Fed President Goolsbee also stated that a rate cut could be considered if tariff-related uncertainties are resolved.In China, signs of economic slowdown are becoming more apparent. The Caixin Manufacturing PMI dropped to 48.3, well below expectations and the lowest level since September 2022. This weak data has fueled expectations of monetary easing in China, prompting a positive reaction in Asian markets. European markets are expected to open flat but positive today.In the US, factory orders for April and JOLTS job openings data will be closely watched. These reports could provide key insights into the labor market and industrial production.Most Valuable Companies and Stock PricesMicrosoft (MSFT) → $3.43 trillion market cap, $461.97 per share, +0.35%NVIDIA (NVDA) → $3.35 trillion market cap, $137.38 per share, +1.67%Apple (AAPL) → $3.01 trillion market cap, $201.70 per share, +0.42%Amazon (AMZN) → $2.19 trillion market cap, $206.65 per share, +0.80%Alphabet (GOOG) → $2.06 trillion market cap, $170.37 per share, -1.43%Borsa IstanbulDomestic data continues to indicate a slowdown in economic activity. The Istanbul Chamber of Industry’s Turkey Manufacturing PMI came in at 47.2 in May, close to the two-month average, signaling weak domestic and external demand in the manufacturing sector. The stagnation in demand negatively impacted production, employment, and firms’ input purchases, while supplier delivery times continued to shorten. Although exchange rate volatility eased compared to the previous month, it still pressures production costs.According to provisional foreign trade data from the Ministry of Trade, exports in May rose 2.7% year-on-year to $24.8 billion, while imports increased by 2.1% to $31.3 billion. The trade deficit remained steady at $6.5 billion. Seasonally and calendar-adjusted data suggest that the deterioration seen in April was temporary and there was a recovery in the trade balance in May.In consumer sentiment, Bloomberg HT’s Consumer Confidence Index rose by 0.2% to 72.36 in May. Today’s inflation figures from TURKSTAT will clarify May’s inflation outlook. In April, inflation stood at 3.0% monthly and 37.86% annually. Our expectation for May is a 1.8% monthly increase and 35.8% annually. However, market consensus expects monthly inflation to exceed 2%.The BIST-100 index continues to move sideways around the 9,000 level. After sharp declines in banking stocks last Friday, there was a rebound yesterday, with the banking index rising 1.5%, helping the BIST-100 stay above the critical 9,000 mark. According to data released yesterday by the BRSA, the banking sector saw a decline in profitability in April due to rising interest rates. Today’s inflation data will be key for the markets. Additionally, with the upcoming holiday break, investor appetite may increase due to settlement advantages, suggesting a limited upward movement in Borsa Istanbul today.Most Valuable Companies in Borsa IstanbulQNB Finansbank (QNBTR) → 856.76 billion TL market cap, 255.75 TL/share, 0.00% changeAselsan Electronic Industry (ASELS) → 589.61 billion TL market cap, 128.40 TL/share, -0.70%Garanti Bank (GARAN) → 452.76 billion TL market cap, 116.30 TL/share, +7.88%Turkish Airlines (THYAO) → 380.54 billion TL market cap, 282.00 TL/share, +2.27%Koç Holding A.Ş. (KCHOL) → 363.9 billion TL market cap, 149.70 TL/share, +4.32%Precious Metals and Exchange RatesGold: 4,230 TLSilver: 43.12 TLPlatinum: 1,337 TLUSD: 39.20 TLEUR: 44.77 TLSee you tomorrow with more market updates!
