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Daily Market Summary with JrKripto 21 May 2025
You can find today’s edition of “Daily Market with JrKripto,” where we compile the most important developments from global and local markets, below. Let’s analyze the general market conditions together and review the latest evaluations.Bitcoin (BTC) is currently trading at $104,700. The upward trend that started at $75,930 has continued strongly after breaking through the resistance levels of $101,059 and $104,000. Most recently, BTC is priced above the $104,629 resistance. If it maintains permanence above this level, the next targets appear to be $108,000 and $109,850. In the event of a pullback, $104,629 now serves as the first support level. Below that, $101,059 and subsequently $96,115 can be followed as support. While the overall trend remains positive, holding above $104,629 is critical for the continuation of the rise.Ethereum (ETH) is currently trading at $2,480. After starting its rise from the $1,486 level, it broke the $2,453 resistance and tested $2,595 before pulling back. At present, ETH is trying to hold above the $2,453 level. If this support holds, $2,595 and $2,981 could again become targets. However, if it drops below $2,453, the levels of $2,095 and $1,790 should be watched as support levels. Maintaining above $2,453 is important for ETH to preserve its positive outlook.Crypto NewsIndia’s Supreme Court stated that cryptocurrencies should be regulated rather than banned.Coinbase’s customer data theft will be investigated by the DOJ.The SEC has delayed its decision on Fidelity’s spot Solana ETF application.Trump said his meeting with Putin went very well and that ceasefire negotiations between Russia and Ukraine would begin immediately.Putin: "My meeting with Trump was very meaningful. It was very informative and beneficial."JPMorgan CEO Jamie Dimon announced that the company will not offer Bitcoin custody services but will allow customers to purchase Bitcoin.A class action lawsuit has been filed against MicroStrategy and its executives for allegedly making misleading statements about their Bitcoin strategy.The Central Bank of Russia plans to lift restrictions on financial instruments linked to Bitcoin and cryptocurrencies.Top Gainers:KTA → up 31.0%, reached $0.80163842LAUNCHCOI → up 21.8%, reached $0.24297025AAVE → up 19.7%, reached $261.82SYRUP → up 15.9%, reached $0.36833722SPX → up 11.8%, reached $0.72499049Top Losers:PYTH → down 8.3%, dropped to $0.13006234NEIRO → down 5.6%, dropped to $0.00053275AMP → down 5.2%, dropped to $0.00463428IP → down 3.5%, dropped to $4.58SFP → down 3.1%, dropped to $0.54123572Fear & Greed Index:Bitcoin: 72 (Greed)Ethereum: 61 (Greed)Dominance:Bitcoin: 63.80% ▼ 0.13%Ethereum: 9.33% ▲ 0.38%Daily Total Net ETF Inflows:BTC ETFs: $667.40 millionETH ETFs: $13.70 millionGlobal MarketsVolatility in global markets continues, though signs of recovery are evident this morning. Following a 90-day trade agreement between the U.S. and China, tariff-related concerns have taken a backseat for now. Meanwhile, credit rating agency Moody’s downgraded the U.S. credit rating by one notch to Aa1 for the first time in 108 years, citing high debt and widening deficits. The outlook was revised from “negative” to “stable.”Despite the pressure from the downgrade, a constructive two-hour meeting between President Donald Trump and Russian President Vladimir Putin, with calls to begin peace talks for the Russia-Ukraine war, helped limit market fallout.Markets started the day with selling pressure due to Moody’s move but later recovered thanks to buying activity. Stock and bond markets ended the day flat to slightly positive. The U.S. 10-year Treasury yield tested 4.56% during the day but fell to 4.45% on increased buying.Out of the 11 major sectors in the S&P 500, 7 closed in positive territory. The top-performing sectors were healthcare (+0.96%), consumer staples (+0.42%), and industrials (+0.38%). Energy (-1.55%) and consumer discretionary (-0.27%) were the weakest.New York Fed President John Williams and Atlanta Fed President Raphael Bostic stated there were no short-term rate cut expectations. Meanwhile, China’s central bank (PBOC) cut its policy rate by 10 basis points for the first time in 7 months to support markets. This move was welcomed in Asia, and European markets are expected to start the day positively.Most Valuable Companies & Stock PricesMicrosoft (MSFT) → $3.41T market cap, stock at $458.87, up 1.01%NVIDIA (NVDA) → $3.31T market cap, stock at $135.57, up 0.13%Apple (AAPL) → $3.12T market cap, stock at $208.78, down 1.17%Amazon (AMZN) → $2.19T market cap, stock at $206.16, unchangedAlphabet (GOOG) → $2.03T market cap, stock at $167.87, up 0.26%Borsa IstanbulAfter climbing from the 9,000 level to 9,800, the BIST 100 index remains in search of direction. Toward the week’s close, limited capital inflows replaced recent outflows, leading to a recovery trend—especially driven by the banking sector. Today, the effort to hold above the 9,600 level is expected to continue.While today’s data calendar is relatively quiet, the Inflation Report to be released by the CBRT on Thursday will be a key highlight for monetary policy direction. Turkey’s 5-year CDS started the day at 295 basis points, signaling relatively balanced risk perception.According to CBRT’s May Market Participants Survey, year-end inflation expectations rose slightly from 30% to 30.35%. The end-2026 forecast is 20.6%, 24-month forward expectation is 17.8%, and 5-year forward is 11.2%, showing little change from the previous month.Bloomberg HT’s Consumer Confidence Preliminary Index dropped by 1.8% in May to 70.90, signaling a slight decline in consumer confidence.The BIST 100 index finished last week with a 3.0% gain, mainly due to strong demand for banking stocks. The average weekly return of bank shares was 6.9%. Globally, the highlight was the announcement that Russia-Ukraine peace negotiations would begin urgently following the Trump-Putin meeting.This week’s data calendar includes:Today: Consumer confidence indexThursday: Real sector and sectoral confidence indices, capacity utilization rateFriday: Sectoral inflation expectationsThe focus is clearly on Thursday’s Inflation Report.Technically, the BIST 100 tested 9,516 during the day and closed at 9,668. The 9,475–9,580 range remains a key support zone. Staying above these levels suggests continued upward movement. A break above 9,740–9,760 could bring the 9,895 resistance level back into play. However, falling below the 9,475–9,580 band could trigger renewed weakness.Key Support Levels: 9,490/9,475, 9,230, 9,044Key Resistance Levels: 9,740/9,760, 9,895, 9,953Highest Market Cap Companies on Borsa Istanbul:QNB Finansbank (QNBTR) → 901.15B TL market cap, stock at 267.00 TL, down 0.74%Aselsan (ASELS) → 632.02B TL market cap, stock at 130.80 TL, down 5.63%Garanti Bank (GARAN) → 475.86B TL market cap, stock at 114.00 TL, up 0.62%Turkish Airlines (THYAO) → 404.34B TL market cap, stock at 290.25 TL, down 0.94%Koç Holding (KCHOL) → 403.21B TL market cap, stock at 158.00 TL, down 0.63%Precious Metals and Exchange RatesGold: 4,006 TLSilver: 39.87 TLPlatinum: 1,226 TLDollar: 38.83 TLEuro: 43.72 TLSee you again tomorrow with the latest news!
Huge Purchase from Metaplanet: Bitcoin Portfolio Exceeds 7,800 Units
Japanese investment firm Metaplanet has made its second-largest Bitcoin purchase to date as BTC approaches its all-time high. In an announcement on May 19, the company revealed that it had purchased 1,004 Bitcoins. This transaction, which cost approximately 15.2 billion yen ($104.6 million), brings Metaplanet’s total Bitcoin holdings to 7,800 BTC. The current market value of this amount exceeds $800 million.Institutional BTC Race Heats UpMetaplanet’s latest acquisition ranks second only to its record 1,241 BTC purchase on May 12. With these large-scale moves within just two weeks, the company’s Bitcoin portfolio has now surpassed that of El Salvador. According to data, Metaplanet is the publicly listed company with the most Bitcoin in Asia and ranks tenth globally.The company’s financial performance also supports this aggressive strategy. Metaplanet reported a 95.6% return on BTC positions in Q1, and a 47.8% return so far in Q2.Target: Surpassing Galaxy DigitalThe company aims to surpass Galaxy Digital Holdings, which owns 8,100 Bitcoins, by acquiring 301 more BTC. If successful, Metaplanet would rise to ninth place among public companies with the most Bitcoin. However, MicroStrategy, led by Michael Saylor, remains the clear leader in this space, holding approximately 568,840 BTC — a portfolio worth over $59 billion.Monthly Accumulation Strategy: 2,800 BTC in May AloneMetaplanet has been following an aggressive accumulation strategy in recent months. The company added 2,800 BTC in May alone. In April, it purchased 794 BTC across four transactions, while in March, it acquired 1,655 BTC through six different buys. This consistent approach demonstrates the company’s strong long-term confidence in digital assets.New Buying Signal from MicroStrategyMeanwhile, MicroStrategy founder Michael Saylor also hinted at a new purchase. In a post on the X platform, Saylor shared a screenshot of his portfolio tracking screen with the caption:"Never short a man who buys orange ink by the barrel."According to data from crypto investment firm River, MicroStrategy has become the fastest-growing corporate Bitcoin holder as of 2024. While institutional purchases have become the largest source of BTC demand this year, ETFs, governments, and retail investors have followed behind.Summary:Metaplanet has increased its total BTC portfolio to 7,800 with a new purchase of 1,004 Bitcoins.The company acquired 2,800 BTC in May alone.It is the largest Bitcoin holder in Asia among public companies and ranks 10th globally.With an additional 301 BTC, it aims to surpass Galaxy Digital and rise to ninth place.MicroStrategy remains the institutional leader with 568,840 BTC.Institutional investors accounted for 77% of Bitcoin demand in 2024.
Daily Market Summary with JrKripto 20 May 2025
You can find today’s edition of “Daily Market with JrKripto,” where we compile the most important developments from global and local markets, below. Let’s analyze the general market conditions together and review the latest evaluations.Bitcoin (BTC) is currently trading at $104,700. The upward trend that started at $75,930 has continued strongly after breaking through the resistance levels of $101,059 and $104,000. Most recently, BTC is priced above the $104,629 resistance. If it maintains permanence above this level, the next targets appear to be $108,000 and $109,850. In the event of a pullback, $104,629 now serves as the first support level. Below that, $101,059 and subsequently $96,115 can be followed as support. While the overall trend remains positive, holding above $104,629 is critical for the continuation of the rise.Ethereum (ETH) is currently trading at $2,480. After starting its rise from the $1,486 level, it broke the $2,453 resistance and tested $2,595 before pulling back. At present, ETH is trying to hold above the $2,453 level. If this support holds, $2,595 and $2,981 could again become targets. However, if it drops below $2,453, the levels of $2,095 and $1,790 should be watched as support levels. Maintaining above $2,453 is important for ETH to preserve its positive outlook.Crypto NewsIndia’s Supreme Court stated that cryptocurrencies should be regulated rather than banned.Coinbase’s customer data theft will be investigated by the DOJ.The SEC has delayed its decision on Fidelity’s spot Solana ETF application.Trump said his meeting with Putin went very well and that ceasefire negotiations between Russia and Ukraine would begin immediately.Putin: "My meeting with Trump was very meaningful. It was very informative and beneficial."JPMorgan CEO Jamie Dimon announced that the company will not offer Bitcoin custody services but will allow customers to purchase Bitcoin.A class action lawsuit has been filed against MicroStrategy and its executives for allegedly making misleading statements about their Bitcoin strategy.The Central Bank of Russia plans to lift restrictions on financial instruments linked to Bitcoin and cryptocurrencies.Top Gainers:KTA → up 31.0%, reached $0.80163842LAUNCHCOI → up 21.8%, reached $0.24297025AAVE → up 19.7%, reached $261.82SYRUP → up 15.9%, reached $0.36833722SPX → up 11.8%, reached $0.72499049Top Losers:PYTH → down 8.3%, dropped to $0.13006234NEIRO → down 5.6%, dropped to $0.00053275AMP → down 5.2%, dropped to $0.00463428IP → down 3.5%, dropped to $4.58SFP → down 3.1%, dropped to $0.54123572Fear & Greed Index:Bitcoin: 72 (Greed)Ethereum: 61 (Greed)Dominance:Bitcoin: 63.80% ▼ 0.13%Ethereum: 9.33% ▲ 0.38%Daily Total Net ETF Inflows:BTC ETFs: $667.40 millionETH ETFs: $13.70 millionGlobal MarketsVolatility in global markets continues, though signs of recovery are evident this morning. Following a 90-day trade agreement between the U.S. and China, tariff-related concerns have taken a backseat for now. Meanwhile, credit rating agency Moody’s downgraded the U.S. credit rating by one notch to Aa1 for the first time in 108 years, citing high debt and widening deficits. The outlook was revised from “negative” to “stable.”Despite the pressure from the downgrade, a constructive two-hour meeting between President Donald Trump and Russian President Vladimir Putin, with calls to begin peace talks for the Russia-Ukraine war, helped limit market fallout.Markets started the day with selling pressure due to Moody’s move but later recovered thanks to buying activity. Stock and bond markets ended the day flat to slightly positive. The U.S. 10-year Treasury yield tested 4.56% during the day but fell to 4.45% on increased buying.Out of the 11 major sectors in the S&P 500, 7 closed in positive territory. The top-performing sectors were healthcare (+0.96%), consumer staples (+0.42%), and industrials (+0.38%). Energy (-1.55%) and consumer discretionary (-0.27%) were the weakest.New York Fed President John Williams and Atlanta Fed President Raphael Bostic stated there were no short-term rate cut expectations. Meanwhile, China’s central bank (PBOC) cut its policy rate by 10 basis points for the first time in 7 months to support markets. This move was welcomed in Asia, and European markets are expected to start the day positively.Most Valuable Companies & Stock PricesMicrosoft (MSFT) → $3.41T market cap, stock at $458.87, up 1.01%NVIDIA (NVDA) → $3.31T market cap, stock at $135.57, up 0.13%Apple (AAPL) → $3.12T market cap, stock at $208.78, down 1.17%Amazon (AMZN) → $2.19T market cap, stock at $206.16, unchangedAlphabet (GOOG) → $2.03T market cap, stock at $167.87, up 0.26%Borsa IstanbulAfter climbing from the 9,000 level to 9,800, the BIST 100 index remains in search of direction. Toward the week’s close, limited capital inflows replaced recent outflows, leading to a recovery trend—especially driven by the banking sector. Today, the effort to hold above the 9,600 level is expected to continue.While today’s data calendar is relatively quiet, the Inflation Report to be released by the CBRT on Thursday will be a key highlight for monetary policy direction. Turkey’s 5-year CDS started the day at 295 basis points, signaling relatively balanced risk perception.According to CBRT’s May Market Participants Survey, year-end inflation expectations rose slightly from 30% to 30.35%. The end-2026 forecast is 20.6%, 24-month forward expectation is 17.8%, and 5-year forward is 11.2%, showing little change from the previous month.Bloomberg HT’s Consumer Confidence Preliminary Index dropped by 1.8% in May to 70.90, signaling a slight decline in consumer confidence.The BIST 100 index finished last week with a 3.0% gain, mainly due to strong demand for banking stocks. The average weekly return of bank shares was 6.9%. Globally, the highlight was the announcement that Russia-Ukraine peace negotiations would begin urgently following the Trump-Putin meeting.This week’s data calendar includes:Today: Consumer confidence indexThursday: Real sector and sectoral confidence indices, capacity utilization rateFriday: Sectoral inflation expectationsThe focus is clearly on Thursday’s Inflation Report.Technically, the BIST 100 tested 9,516 during the day and closed at 9,668. The 9,475–9,580 range remains a key support zone. Staying above these levels suggests continued upward movement. A break above 9,740–9,760 could bring the 9,895 resistance level back into play. However, falling below the 9,475–9,580 band could trigger renewed weakness.Key Support Levels: 9,490/9,475, 9,230, 9,044Key Resistance Levels: 9,740/9,760, 9,895, 9,953Highest Market Cap Companies on Borsa Istanbul:QNB Finansbank (QNBTR) → 901.15B TL market cap, stock at 267.00 TL, down 0.74%Aselsan (ASELS) → 632.02B TL market cap, stock at 130.80 TL, down 5.63%Garanti Bank (GARAN) → 475.86B TL market cap, stock at 114.00 TL, up 0.62%Turkish Airlines (THYAO) → 404.34B TL market cap, stock at 290.25 TL, down 0.94%Koç Holding (KCHOL) → 403.21B TL market cap, stock at 158.00 TL, down 0.63%Precious Metals and Exchange RatesGold: 4,006 TLSilver: 39.87 TLPlatinum: 1,226 TLDollar: 38.83 TLEuro: 43.72 TLSee you again tomorrow with the latest news!
Fidelity's New Bitcoin Forecast: "We Could See New Highs Before This Cycle Is Over"
Fidelity Investments, one of the world’s largest asset managers, has published a striking analysis on the cryptocurrency markets. The giant investment company, which manages nearly $5 trillion in assets, predicts that Bitcoin could reach an all-time high before the end of 2025.This forecast is based on technical and macro analyses conducted by the company’s digital asset research unit. According to Fidelity, the market is currently in a critical phase known as the “acceleration stage,” where the upward potential is strengthening.Bitcoin Is Approaching the Peak of This CycleFidelity’s analysis draws attention to the effects of the strong upward trend that began in late 2024. Bitcoin has surpassed $100,000 and set historical records due to increasing institutional demand for spot ETFs and new capital entering the markets.This momentum is expected to continue until the second half of 2025. The firm states that it is highly likely the price will reach new highs.Pay Attention to Expansionary PoliciesFidelity’s Global Macro Director Jurrien Timmer stated that current macroeconomic conditions are extremely favorable for digital assets with limited supply such as Bitcoin. Particularly during this period when the U.S. Federal Reserve is signaling interest rate cuts and expansionary fiscal policies are continuing, demand for Bitcoin is expected to strengthen further.The fact that inflation continues to remain above expectations increases interest in alternative stores of value. At this point, Bitcoin stands out especially for long-term investors.Fidelity’s Long-Term Bitcoin StrategyChris Kuiper, research director of Fidelity Digital Assets, says investors should approach Bitcoin with a long-term perspective. According to Kuiper, higher price volatility and aggressive rallies may be seen in the second half of bull markets.Therefore, it is emphasized that investors should adopt strategies based on risk management, regularly rebalance their portfolios, and be prepared not only for upside expectations but also for potential volatility.$1 Million by 2040?Fidelity’s most striking prediction is for the long term: The company estimates that Bitcoin could reach $1 million between the years 2038 and 2040. This view is based on Metcalfe’s Law, which states that the value of a network is proportional to the square of the number of its users.Fidelity argues that if the Bitcoin network continues to grow and adoption increases on a global scale, the price could rise proportionally as well.Summary in Brief NotesAccording to Fidelity, Bitcoin may reach new record levels within this market cycle.Increasing demand for spot ETFs and institutional investor interest supports this forecast.Macroeconomically, a low interest rate environment and inflation pressure create a positive ground for BTC.In the long term, a $1 million level for Bitcoin is being mentioned.Long-term strategy and risk management are recommended to investors.
$1 Billion Bitcoin Move from Basel Medical Group
Singapore-based healthcare company Basel Medical Group Ltd. is making a notable move in the second quarter of 2025. The company announced that it plans to purchase $1 billion worth of Bitcoin (BTC). The goal is to strengthen its balance sheet structure, respond more flexibly to strategic growth opportunities, and establish a capital structure diversified with digital assets.How Will the Bitcoin Purchase Be Made?This investment will not be carried out as a direct Bitcoin purchase with cash. Instead, Basel Medical will execute this move through a share swap with institutional investors and high-net-worth individuals from the crypto ecosystem. In other words, company shares will change hands in exchange for Bitcoin at specific ratios.Basel plans to complete these transactions within the next few months, following the necessary regulatory approvals.Official Statement from the CompanyBasel CEO Dr. Darren Chhoa emphasized that this investment is an innovation within the traditional healthcare services structure, stating:“Strengthening our financial infrastructure will accelerate not only our growth within the sector but also our expansion into technology-based new solutions. By managing strategic capital with Bitcoin, we will be able to act faster in future mergers and acquisitions.”Market Reaction: Initial SuspicionBasel Medical’s announcement initially caused unease among investors. The company’s shares dropped by about 15% immediately after the announcement. Analysts note that investors may have viewed this move as a deviation from the company’s core business.However, the increasing number of companies recently including crypto in their balance sheets could also position this move as “pioneering and visionary” in the long term.What Does It Mean for the Sector?The healthcare sector is generally known for its conservative financial management approach. Basel’s step demonstrates that digital assets like Bitcoin are not limited to just tech or finance firms but are also gaining institutional acceptance in real industries.This step could also serve as an example for other companies in the healthcare services sector. It may mark the beginning of a new era in which digital assets are used as strategic reserves.In Summary:Investment Amount: A $1 billion Bitcoin purchase will be made.Investment Model: Will be carried out through share swaps with institutional investors and individuals.Purpose: To strengthen the balance sheet and bring flexibility to growth and acquisition strategies.Timing: The process is planned to be completed within the second quarter of 2025.
JPMorgan: Bitcoin Could Be Stronger Than Gold in the Second Half of 2025
U.S. banking giant JPMorgan has stated that Bitcoin could outperform gold significantly in the second half of 2025. The bank’s analysts noted that this projection is supported by the rise in institutional investments, U.S. states approaching Bitcoin as a strategic reserve asset, and changes in market dynamics.In the first half of the year, gold had gained strength while Bitcoin lagged behind. However, in the past three weeks, the picture has reversed. Since April 22, gold has dropped by around 8%, while Bitcoin has gained 18% in value. JPMorgan emphasizes that this movement is not solely due to weakness in gold, but also stems from developments specific to Bitcoin.Strong Institutional Demand and State SupportAccording to JPMorgan analysts, Bitcoin investments by publicly traded companies have reached notable levels. Strategy aims to purchase $42 billion worth of Bitcoin by 2027. So far, 60% of this target has been achieved. Similarly, Japan-based Metaplanet continues its Bitcoin acquisitions.On the other hand, U.S. states' approaches to crypto are also shifting. New Hampshire announced that up to 5% of public assets could be allocated to Bitcoin and gold, while Arizona is preparing to establish a digital asset reserve fund using staking and airdrop revenues.Additionally, the licensing of derivative products by some exchanges in Europe is making institutional access to Bitcoin easier. While inflows into spot Bitcoin ETFs are increasing, outflows from gold ETFs have accelerated. A similar trend is seen in futures markets: Bitcoin positions are rising, while demand for gold is decreasing.JPMorgan: Bitcoin May Replace GoldAccording to JPMorgan, the combination of these developments could make Bitcoin a more advantageous asset in the second half of the year. The bank states that investor preferences are shifting and the gold-Bitcoin balance is turning in favor of Bitcoin. Bitcoin’s upward potential is being strengthened especially by institutional support and structural changes.The analysts’ statement is as follows: “While gold gained value from mid-February to mid-April, we observed that in the last three weeks Bitcoin has started to outperform gold with its rapid rise. For the remainder of the year, we expect crypto-specific catalysts to place Bitcoin in a more favorable position than gold.”Reasons Why Bitcoin Could Outperform Gold in 2025:Increase in Institutional Demand: Aggressive BTC purchases by companies like MicroStrategy and Metaplanet.State Support: Reserve initiatives from states such as New Hampshire and Arizona.ETF Inflows: Rising investor interest in spot Bitcoin funds.Gold Weakening: Recent weeks have seen outflows from gold ETFs.Structural Change: Licensing of crypto derivative products in Europe expands institutional access.JPMorgan’s assessment shows that Bitcoin’s prominence in the investment world could further increase throughout the rest of 2025, potentially shaking the traditional appeal of gold.
US States Are Approaching Bitcoin Via MSTR: Investments Have Increased by 91%
In the first quarter of 2025, public pension and treasury funds from 14 U.S. states reported holding a total of $632 million worth of MicroStrategy (MSTR) shares. According to data shared by Bitcoin Laws founder Julian Fahrer, this figure represents a remarkable 91.5% increase compared to $330 million in the previous quarter. This rise is a concrete indicator of U.S. states' growing indirect interest in crypto assets.MicroStrategy and Indirect Crypto InvestmentAs is known, MicroStrategy holds over 214,000 Bitcoin on its balance sheet. Thanks to this feature, investments made by public funds in MSTR shares allow them to implement a strategy of exposure to this asset without directly purchasing Bitcoin. In an environment where market volatility and regulatory uncertainties continue, this method stands out as a cautious alternative.Notable States and FiguresCalifornia: Leads with an investment of $276 million. The State Teachers Retirement System (CalSTRS) and the Public Employees Retirement System hold the majority of MSTR shares.Florida: Ranks second with assets worth $88 million. It holds 221,860 MSTR shares and recorded a 38% increase.North Carolina and New Jersey: Each stand out with investments of $43 million. NJ Police and Firefighters Retirement System grew by 40%, while Retirement Fund D grew by 14%.Utah: Achieved the highest quarterly growth rate with 184%.Colorado: Recorded 67% growth.Arizona: Despite the veto of the Bitcoin reserve law, increased its MSTR shares by 25%.Wisconsin and the Indirect Investment StrategyAt the beginning of the year, the Wisconsin Investment Board liquidated its $300 million position in BlackRock’s iShares Bitcoin Trust fund. However, holding $51 million worth of MSTR shares shows that institutional investors prefer exposure to crypto via indirect company shares rather than direct ETFs.Public Funds Are Taking Crypto SeriouslyThese moves reveal that public funds are increasingly interested in cryptocurrencies and are strategically including them in their portfolios. Indirect exposure to Bitcoin through MSTR shares provides a vital interim solution for institutions that cannot make direct purchases due to political and legal uncertainties. The continuation of this trend indicates that crypto assets will become even more integrated into the institutional finance world.
Ukraine Plans to Create a Bitcoin Reserve
Ukraine is preparing to take a significant step in the history of cryptocurrency. A draft law aimed at adopting Bitcoin as a national reserve asset in the country has reached its final stage. While this move aims to increase Ukraine's financial resilience capacity, it could also be a turning point in the institutional approach to cryptocurrencies.Draft Law Reaches Final StageSpeaking at the "Crypto 2025" conference, Ukrainian MP Yaroslav Zhelezniak said, "We will submit a draft law that will allow the creation of crypto reserves." It was reported that the draft was prepared based on suggestions from within the crypto industry and will be submitted to parliament shortly.Trump Effect: Bitcoin Reserve TrendUkraine’s move comes after U.S. President Donald Trump signed an executive order in March 2025 initiating a Bitcoin reserve program. The U.S. started creating a national reserve using BTCs obtained from criminal cases. Following this move, Swedish MP Rickard Nordin also made a similar proposal. Bitcoin has increasingly been gaining attention globally as a hedge against inflation.Legal Process and ChallengesBinance’s regional manager Kyrylo Khomiakov stated that they view Ukraine's goal positively but that serious legal regulations are needed. The process is not expected to be completed in the short term. Khomiakov added that this initiative would also contribute to creating clearer regulations in the crypto space.Founder of the Kuna crypto exchange, Michael Chobanian, criticized the move. “The country is bankrupt. More than half of the budget is financed by grants and loans from the EU. The population is experiencing the fastest decline in history,” said Chobanian, arguing that the plan to create a BTC reserve is a distraction tactic.Although Ukraine’s plan to create a Bitcoin reserve has not yet been finalized, it indicates a growing trend among governments worldwide to develop strategic approaches to Bitcoin. This initiative could be a significant milestone for both economic recovery and the development of crypto legislation. However, the completion of the legal infrastructure and the sustainability of political willpower will determine the fate of this process.
Daily Market Summary with JrKripto 15 May 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 the general market conditions together and take a look at the latest evaluations.Bitcoin (BTC) is currently trading at $101,550. The strong upward trend that started from the $75,930 level gained significant momentum after surpassing the $101,059 and $104,000 resistance levels. However, with the selling pressure from the $104,629 level, a short-term pullback is being observed in BTC. Currently, the $101,059 level is being tested as a critical support. If staying above this zone is maintained, the upward movement may regain strength, and if the $104,629 resistance is surpassed, the $108,000 and $109,850 levels may again become targets. On the other hand, if the $101,059 support is lost, the $96,115 and $94,570 levels are strong support zones to follow on the downside.Ethereum (ETH) has dropped to the $2,530 level. With the strong rise that started from the $1,486 support, ETH broke the $2,453 resistance and, after testing the $2,595 level, faced some profit-taking. It is currently trading above the $2,453 level. As long as it remains above this zone, with the continuation of the upward trend, the $2,595 and $2,981 levels may again become targets. However, in case the $2,453 level is broken to the downside, the $2,095 and $1,790 levels should be followed as the next support zones. To maintain the positive outlook in ETH, price action above $2,453 is important.Crypto NewsPresident Trump stated that India has offered zero customs duty on U.S. goods.JP Morgan completed the first publicly tokenized bond transaction on the Ondo blockchain.Trump: We are ahead of China in crypto.Trump: I am a big crypto fan.Coinbase announced that cbADA, cbDOGE, cbLTC, and cbXRP are coming soon.Twent One announced that it purchased 4,812 BTC at an average price of 95,300.CryptocurrenciesTop Gainers:FAI → Increased by 38.5%, reaching $0.02676225.ATH → Increased by 20.2%, reaching $0.05417113.LAUNCHCOI → Increased by 18.9%, reaching $0.24307398.AMP → Increased by 13.2%, reaching $0.00516593.NEIRO → Increased by 8.3%, reaching $0.0006159.Top Losers:PI → Decreased by 25.1%, falling to $0.88510663.GIGA → Decreased by 14.7%, falling to $0.02361419.TOSHI → Decreased by 14.3%, falling to $0.00068798.TDCCP → Decreased by 13.1%, falling to $0.36088537.PYTH → Decreased by 12.8%, falling to $0.16686662.Fear Index:Bitcoin: 71 (Greed)Ethereum: 60 (Greed)Dominance:Bitcoin: 62.59% ▲ 0.01%Ethereum: 9.56% ▼ 0.27%Daily Total Net ETF InflowsBTC ETFs: $319.50 MillionETH ETFs: $63.50 MillionThank you, and here are the data to be announced on Thursday, May 15, 2025:Data to Watch Today15:30 – Core Retail Sales (Monthly) (April)Expectation: 0.3% – Previous: 0.5%15:30 – Jobless ClaimsExpectation: 229K – Previous: 228K15:30 – Philadelphia Fed Manufacturing Index (May)Expectation: -11.3 – Previous: -26.415:30 – Producer Price Index (PPI) (Monthly) (April)Expectation: 0.2% – Previous: -0.4%15:30 – Retail Sales (Monthly) (April)Expectation: 0.0% – Previous: 1.4%15:40 – Fed Chair Powell’s SpeechGlobal MarketsPositive developments in global trade and the U.S.'s agreements with Gulf countries on the technology sector led to strong gains, especially in tech stocks. With these developments, the Nasdaq index rose by 0.72%, the S&P 500 gained 0.10%, while the Dow Jones index declined by 0.21%.Among the 11 main sectors in the S&P 500 index, technology, telecommunications, and consumer discretionary sectors showed gains. The weakest performance came from the healthcare sector, which fell by 2.31%, followed by the materials sector (0.96%) and real estate sector (0.90%).Especially Nvidia and Tesla shares contributed significantly to the overall performance of the technology sector, rising by 16% and 16.6% respectively in the first three trading days of the week.With U.S. crude oil inventories showing the highest increase in the last two months, concerns about oversupply in oil prices increased. Brent oil fell by 0.8% to $66.1, while U.S. crude oil inventories rose by 3.5 million barrels last week to reach 441.8 million barrels.Gold prices also fell by 2.2%, declining to $3,177/ounce, the lowest level in the last five weeks, due to reduced safe-haven demand amid decreasing economic uncertainties.The U.S. 10-year bond yield rose to 4.54%, the highest level since February 18, while the 2-year bond yield climbed to 4.05%, the highest since February 27. This indicates a continued upward trend in bond market interest rates. The spread between the 10-year and 2-year bond yields increased from 46 to 49 basis points.The Dollar Index (DXY) ended the day flat at 101.0. The euro/dollar parity closed the day down by 0.2% at 1.118.While a mixed outlook dominates Asian stock markets this morning, European markets are expected to start the day with a flat to slightly negative trend. Today, U.S. PPI (Producer Price Index) data for April stands out in the economic calendar. Also, peace negotiations between Russia and Ukraine are planned to be held in Istanbul today and are being closely followed by the markets.Most Valuable Companies and Stock PricesMicrosoft (MSFT) → $3.37T market cap, $452.94 per share, up 0.85%NVIDIA (NVDA) → $3.30T market cap, $135.34 per share, up 4.16%Apple (AAPL) → $3.17T market cap, $212.33 per share, down 0.28%Amazon (AMZN) → $2.23T market cap, $210.25 per share, down 0.53%Alphabet (GOOG) → $2.01T market cap, $166.81 per share, up 3.68%Borsa İstanbulDomestically, today’s key data includes the central government’s April budget balance, the March service and construction production indices, and the number of salaried employees. In March, the central government budget deficit came in at TRY 261.5 billion, below the Treasury’s previously announced cash deficit of TRY 298.4 billion. In April, the Treasury’s cash balance posted a deficit of TRY 183.5 billion, while the primary balance recorded a surplus of TRY 73.6 billion. The service production index had lost momentum in February; the annual increase, which was 7.0% in January, slowed to 1.2% in February.Yesterday, Borsa Istanbul showed a generally flat market trend. Shares of Garanti Bank, Turkcell, and Aselsan outperformed, while sales pressure on Turkish Airlines (THY), which holds significant weight in the index, limited the upward movement. Additionally, expectations of extended settlement periods due to the upcoming May 19th public holiday led to cautious market behavior. On top of that, news suggesting that top leaders will not attend the Russia–Ukraine ceasefire talks dampened market optimism. However, any potential ceasefire decision coming out of today’s discussions could positively impact market sentiment. Therefore, a slightly bullish tone is expected on the BIST today.From a technical perspective, the BIST100 index dropped to 9,658 during the session but recovered with reactionary buying to close at 9,702. The index’s ability to stay above the 9,475–9,580 band—considered a transition zone—signals continued market optimism. As long as this zone holds, upward momentum could strengthen, and if the 9,740/9,750 intermediate resistance is surpassed, the 9,895 resistance could come into play. Hence, the 9,580–9,475 range now serves as a critical support zone.Top Companies by Market Capitalization on Borsa IstanbulQNB Finansbank (QNBTR) → Market Cap: TRY 929.63 billion, Share Price: TRY 270.75, ▼ 2.43%Aselsan Electronic Industry (ASELS) → Market Cap: TRY 629.28 billion, Share Price: TRY 139.40, ▲ 1.01%Garanti Bank (GARAN) → Market Cap: TRY 477.12 billion, Share Price: TRY 111.50, ▼ 1.85%Turkish Airlines (THYAO) → Market Cap: TRY 412.62 billion, Share Price: TRY 298.00, ▼ 0.33%ENKA Construction and Industry (ENKAI) → Market Cap: TRY 398.61 billion, Share Price: TRY 67.65, ▼ 0.51%Precious Metals and Currency RatesGold: TRY 3,940Silver: TRY 39.87Platinum: TRY 1,226USD/TRY: 38.77EUR/TRY: 43.49Looking forward to seeing you again tomorrow with the latest updates!
Tether-Backed Twenty One Ranks Third in Corporate BTC Accumulation
Tether Executes Major BTC Purchase on Behalf of Bitcoin Investment Firm Twenty One CapitalTether has carried out a massive Bitcoin purchase on behalf of the investment firm Twenty One Capital. On May 9, the company acquired a total of 4,812 Bitcoins worth approximately $458.7 million. Paying an average of $95,319 per BTC, Tether transferred these assets into a custodian wallet. The purchase was revealed through a filing submitted by Cantor Equity Partners to the U.S. Securities and Exchange Commission (SEC) on May 13.Twenty One Capital is in the process of completing a SPAC merger with Cantor Equity Partners. Once finalized, the company will be publicly traded under the ticker symbol “XXI.” Including the 31,500 BTC already under Cantor’s custody, the company’s total reserves now amount to 36,312 BTC.This move indicates that Twenty One is positioning itself as a major player not just in the present, but for the future as well. CEO Jack Mallers stated that the merger approval process is ongoing, though a specific completion date has yet to be determined. Twenty One is targeting a total of 42,000 BTC, currently making it the third-largest institutional Bitcoin holder.A Next-Generation Institutional StrategyTwenty One Capital aims to be a strong alternative to MicroStrategy, led by Michael Saylor. In its presentations, the company emphasizes a model focused on “Bitcoin per share” rather than traditional earnings metrics. Accumulating Bitcoin is viewed as the core strategy, marking a departure from conventional investment approaches.The company’s shareholder structure is also noteworthy. Tether and Bitfinex are among the largest stakeholders in Twenty One, while Cantor Fitzgerald plays a significant role in financing the merger. Additionally, SoftBank has made a substantial contribution by investing $900 million in the company.Key Highlights of Twenty One Capital:Tether purchased 4,812 BTC at an average price of $95,319.The company’s total Bitcoin holdings have reached 36,312 BTC.Target: Reach 42,000 BTC to become a top institutional Bitcoin investor.Offers a unique value proposition with a Bitcoin-per-share model.Will begin trading under the ticker symbol “XXI” post-SPAC merger.With its aggressive growth strategy and strong backing, Twenty One Capital is poised to become one of the most prominent players in the institutional Bitcoin investment space in the near future.
Daily Market Summary with JrKripto 14 May 2025
You can find today’s “Daily Market with JrKripto,” where we compiled 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) is currently trading at $103,170. The strong upward trend that started from the $75,930 level gained momentum after surpassing the $101,059 and $104,000 resistance levels. However, with the price pulling back from the $104,629 level, a short-term correction movement is being observed. During this process, the $101,059 level stands out as the first significant support. If this level is maintained, the upward trend may gain momentum again, and if the $104,629 resistance is broken, the targets of $108,000 – $109,850 may come back into focus. Otherwise, the $96,115 and $94,570 levels will be followed as support levels in downward movements.Ethereum (ETH), on the other hand, is trading at the $2,600 level. With the effect of the upward movement that started from the $1,486 level, the $2,453 resistance was broken, and the price rose up to the $2,550 level. However, with some profit-taking at this point, the price has pulled back slightly. Currently, the $2,453 level is being tested as support. If it can remain above this level, the $2,595 and $2,981 resistance levels may once again become targets. However, if it drops below $2,453, the $2,095 and $1,790 levels should be followed as gradual support zones. Holding above $2,453 is critically important for the upward trend in ETH to continue.Crypto NewsTrump: I’m a big fan of crypto.SEC has accepted 21Shares’ spot DOGECOIN ETF application.SEC has postponed Grayscale’s Litecoin spot ETF application.Trump: What’s up with “Always Delayed Powell”? It’s not fair for an America that’s ready to bloom.Nvidia announced a “strategic partnership” with Humain to build artificial intelligence factories in Saudi Arabia.CryptocurrenciesTop Gainers:GRASS → increased by 32.5% to $2.14ETHFI → increased by 30.3% to $1.35TDCCP → increased by 30.1% to $0.41883782RAY → increased by 19.4% to $3.78SYRUP → increased by 17.3% to $0.30284282Top Losers:MOODENG → decreased by 10.9% to $0.27000123KAITO → decreased by 8.3% to $1.87PNUT → decreased by 4.5% to $0.41688071DEXE → decreased by 3.9% to $12.31MOG → decreased by 3.8% to $0.00000107Fear Index:Bitcoin: 71 (Greed)Ethereum: 58 (Greed)Dominance:Bitcoin: 62.07% ▼ 0.18%Ethereum: 9.72% ▼ 0.05%Daily Total Net ETF InflowsBTC ETFs: -$91.40 MillionETH ETFs: $13.50 MillionGlobal MarketsInflation data released in the U.S. in April came in below expectations, and with this development, the positive news from U.S. President Donald Trump’s investment talks with Gulf countries led to positive closings in the stock markets.According to the released CPI data, headline inflation came in at 0.2% monthly, below the expected 0.3%. Annual inflation also came in at 2.3%, below the market expectation of 2.4%. This marked the lowest level seen since February 2021. Core inflation, which excludes food and energy, remained in line with expectations at 2.8% annually, while it was 0.2% monthly, below the 0.3% forecast.The slowdown in service inflation continued, but the price increases in housing and rent items remained strong. Additionally, decreases were observed in food, used car, and clothing prices. On a monthly basis, energy prices rose by 0.7%, healthcare services by 0.5%, and housing costs by 0.3%. In some items, price increases due to tariffs were also observed.In addition to the inflation data, investments announced during U.S. President Donald Trump’s meeting with Saudi Crown Prince Mohammed bin Salman also supported the markets. Trump announced that a total investment of $600 billion is being worked on between the two countries. As part of this, a $142 billion arms deal was signed. Investment plans for data centers from tech giants like Nvidia, Amazon, and Google were also announced.With the impact of these developments, the Nasdaq Index rose by 1.61%, and the S&P 500 increased by 0.72%. However, the decline in shares of healthcare company United Health negatively affected the Dow Jones Index, which ended the day with a 0.64% loss.Today, markets will focus on the weekly crude oil inventory data. While Asian markets started the day on a positive note, European markets are expected to start the day flat.Most Valuable Companies and Stock PricesMicrosoft (MSFT) → $3.34T market cap, $449.14 per share, ▼ 0.03%Apple (AAPL) → $3.18T market cap, $212.93 per share, ▲ 1.02%NVIDIA (NVDA) → $3.17T market cap, $129.93 per share, ▲ 5.63%Amazon (AMZN) → $2.24T market cap, $211.37 per share, ▲ 1.31%Alphabet (GOOG) → $1.94T market cap, $160.89 per share, ▲ 0.82%Borsa IstanbulIn March, Turkey’s current account deficit came in at $4.1 billion, slightly above market expectations. The 12-month cumulative current account deficit remained steady at $12.6 billion, while excluding gold and energy, the current account surplus showed a limited increase of $0.3 billion compared to the previous month, reaching $51.6 billion. According to seasonally adjusted data, a limited improvement was observed in the general current account balance in March due to recovery in gold and energy balance. However, there was a monthly deterioration in the current account balance excluding gold and energy. This indicates that both upside and downside risks remain for year-end current account balance expectations.On Borsa Istanbul (BIST-100), after Monday’s strong rise, the index lost 0.5% on Tuesday due to profit-taking. Investors are focused on the expected Russia-Ukraine ceasefire talks in Istanbul on Thursday. The dollar-based value of BIST-100 is around the 250 level, about 15% below the March 2025 peak. Signs of recovery in inflation indicators and positive geopolitical developments could lay the groundwork for the index to move back toward its previous peaks. In this context, a flat performance is expected on BIST today.From a technical standpoint, the BIST100 index fell to the 9652 level at the start of the day yesterday, but closed the day at 9700 after buying interest. The 9475–9580 range is considered a key transition zone, and as long as it stays above this band, the upward expectation is thought to continue. If the index exceeds the 9740/9750 level, testing the 9895 resistance may come into play. In downward movements, the 9580–9475 band stands out as the first strong support region. If these levels are broken, the 9230, 9044, and 8870 levels will be followed as support. On the upside, the 9740/9750, 9895, and 9953 levels will be followed as resistance points.Most Valuable Companies on Borsa IstanbulQNB Finansbank (QNBTR) → ₺904.5 billion market cap, ₺279.50 per share, ▲ 3.52%Aselsan Electronic Industry (ASELS) → ₺623.81 billion market cap, ₺138.00 per share, ▲ 0.88%Garanti Bank (GARAN) → ₺460.74 billion market cap, ₺113.90 per share, ▲ 3.83%Turkish Airlines (THYAO) → ₺420.21 billion market cap, ₺300.75 per share, ▼ 1.23%ENKA Construction and Industry (ENKAI) → ₺404.47 billion market cap, ₺69.50 per share, ▲ 0.72%Precious Metals and Exchange RatesGold: ₺4,022Silver: ₺41.25Platinum: ₺1,242Dollar: ₺38.78Euro: ₺43.43Looking forward to meeting again tomorrow with the latest news!
Eric Adams“ "The Future of Crypto Will Be Written in New York”
At a press conference, New York City Mayor Eric Adams once again clearly stated his goal of making New York the "crypto capital of the world." This statement comes ahead of the New York City Crypto Summit, which will be held at Gracie Mansion on May 20, drawing renewed attention to the city's ambition to lead in digital assets.Financial Inclusion and Technological LeadershipAdams emphasized that New York has long been the financial capital of the world and expressed his intention to maintain this role in the future through blockchain and crypto technologies. Highlighting the potential of cryptocurrency technologies to provide financial inclusion for those without access to traditional banking systems, Adams also stressed the importance of considering the social impact of these technologies.Crypto Summit: Public and Private Sectors Come TogetherScheduled for May 20, the New York City Crypto Summit will bring together public officials and leading figures from the crypto ecosystem. With key participants such as Figure co-founder June Ou and Traction & Scale CEO Richie Hecker, the summit will serve as a platform for fostering public-private partnerships and innovative ideas.Emphasis on Balanced RegulationAdams pointed out that one of the most important issues facing the crypto industry is “balanced regulation.” Warning that overly harsh regulations could stifle innovation, he stated that policies should strike a balance between investor protection and innovation.Growing Crypto EcosystemRecalling that he received his first three paychecks in Bitcoin and Ethereum when he took office in 2022, Adams described this step as a symbol of the city's crypto vision. Today, New York has become a hub for leading crypto firms such as MoonPay, Coinbase, and Gemini.According to Adams, New York’s leadership in digital finance can only be achieved through a unified vision shared by the public and private sectors. The Crypto Summit will be one of the milestones supporting this vision with concrete steps.New York’s ambition to become the crypto capital is not merely symbolic, but the result of a strategy shaped collectively by the public, regulators, and the industry.
Daily Market Summary with JrKripto 12 May 2025
JrKripto Daily Market Overview: Key Developments in Global and Local MarketsLet's analyze the general market conditions together and review the latest assessments.Bitcoin (BTC) is currently trading at $103,170. The strong upward trend that began at $75,930 gained momentum after surpassing the $101,059 and $104,000 resistance levels. However, following a pullback from the $104,629 level, a short-term correction is observed. In this process, the $101,059 level stands out as the first significant support. If this level holds, the upward trend may regain momentum, and surpassing the $104,629 resistance could bring the $108,000 – $109,850 targets back into focus. Otherwise, the $96,115 and $94,570 levels will be monitored as supports in downward movements.Ethereum (ETH) is trading at $2,470. The upward movement that started from the $1,486 level led to the surpassing of the $2,453 resistance, with the price reaching up to $2,550. However, profit-taking at this point caused a slight pullback. Currently, the $2,453 level is being tested as support. If this level holds, the $2,595 and $2,981 resistances could become targets again. However, if the price falls below $2,453, the $2,095 and $1,790 levels should be monitored as gradual support areas. Holding above $2,453 is critical for the continuation of the upward trend in ETH.Crypto NewsCoinbase Global is preparing to join the S&P 500.White House Senior Advisor Hassett: We are restarting relations with China. Markets can expect some normalization.Canary has applied to the CBOE for a Staked TRX ETF.NYC Mayor Eric Adams stated his goal is to make "New York the crypto capital of the world."Trump: Tariffs on China will not rise back to 145%.Top Gainers:NEIRO → Up 30.6% to $0.00059612CHEEMS → Up 11.8% to $0.00000179KAITO → Up 11.3% to $1.97ATH → Up 8.3% to $0.04188902KSM → Up 4.6% to $21.03Top Losers:PI → Down 24.5% to $1.12BONK → Down 13.2% to $0.000002222MEW → Down 12.5% to $0.00379308CHEX → Down 11.9% to $0.2264459PYTH → Down 11.8% to $0.18108267Fear & Greed Index:Bitcoin: 70 (Greed)Ethereum: 51 (Neutral)Dominance:Bitcoin: 63.04% ▲ 0.67%Ethereum: 9.16% ▼ 0.87%Daily Total Net ETF Inflows:BTC ETFs: $5.20 MillionETH ETFs: -$17.60 MillionData to Watch TodayUSA – 15:30Core Consumer Price Index (CPI) (Monthly) (April)Expectation: 0.3% | Previous: 0.1%Consumer Price Index (CPI) (Monthly) (April)Expectation: 0.3% | Previous: -0.1%Consumer Price Index (CPI) (Annual) (April)Expectation: 2.4% | Previous: 2.4%Global MarketsFollowing recent talks between the USA and China, both countries have decided to reduce tariffs reciprocally. In this context, the USA will lower its 145% tariff on Chinese imports to 30% for 90 days, while China will reduce its 125% tariff on US goods to 10% for the same period. This development, indicating a softening in trade wars, has increased optimism in global markets and led to strong gains, especially in US stock markets. The S&P 500 index rose by 3.26%, the Dow Jones by 2.81%, and the tech-heavy Nasdaq index by 4.35%. The Nasdaq has entered a "bull market" again, recovering over 20% from recent declines. All major indexes closed above the technically significant 100 and 200-day moving averages, and trading volumes exceeded the 20-day average, supporting the uptrend. The group of large technology stocks known as the "Magnificent Seven" rose by 5.80%, adding $821 billion to their total market value.In the S&P 500 index, the infrastructure sector diverged negatively with a 0.68% decline, while the consumer discretionary sector rose by 5.66%, technology by 4.66%, telecommunications by 3.35%, and industrials by 3.06%, showing the best performance. Increased growth expectations led to sales in the bond market, while the dollar strengthened. The dollar index (DXY) rose by 1.35% to 101.8, while the Euro/dollar pair fell by 1.4% to 1.109, reaching its lowest level since April 9.Today, the global markets' agenda includes the US Consumer Price Index (CPI) data for April. Market expectations are for the headline CPI to increase by 0.3% monthly and 2.4% annually. This data will be closely watched for expectations regarding the Federal Reserve's interest rate policy. Ahead of the US CPI data, futures markets are showing a slightly bearish trend, while Asian markets are negative, and European markets are expected to start the day flat to slightly negative.Most Valuable Companies and Stock Prices:Microsoft (MSFT) → $3.34T market cap, $449.26 per share, up 2.40%Apple (AAPL) → $3.15T market cap, $210.79 per share, up 6.18%NVIDIA (NVDA) → $3T market cap, $123.00 per share, up 5.44%Amazon (AMZN) → $2.21T market cap, $208.64 per share, up 8.07%Alphabet (GOOG) → $1.93T market cap, $159.58 per share, up 3.37%Borsa IstanbulIn March, domestic retail sales volume contracted on a monthly basis for the first time in 9 months. Although the index increased by 9.2% annually, it declined by 1.4% monthly, signaling a weakening in domestic demand. Notably, the sales volume of non-food products decreased by 2%, indicating that the contraction was mainly due to this category.The total turnover index, covering the industry, construction, trade, and service sectors, increased by 4.2% monthly and 33.4% annually in March. Looking at the subcategories; the industry sector turnover increased by 25.1% annually, construction by 26.3%, trade by 37.8%, and services by 35.9%. However, the 4.6% monthly contraction in the construction sector's turnover drew attention, indicating weak performance in this sector.The construction cost index increased by 1.53% monthly and 23.23% annually in March. This shows that the annual cost increase rate has been slowing down continuously for 10 months. However, with the delayed effects of the exchange rate increase experienced in the March-April period, it is estimated that this slowdown in costs, especially in material prices, may pause in the coming months.Today, the Treasury will hold auctions for 4-year TLREF-indexed and 4-year CPI-indexed bonds. Additionally, balance of payments data and foreign trade indices for March will be announced. In February, a current account deficit of $4.4 billion was recorded, and the 12-month cumulative deficit rose from $11.8 billion to $12.8 billion. In March, the current account deficit is expected to be around $3.5 billion.Yesterday, Borsa Istanbul (BIST-100) saw a strong increase of nearly 4%. The biggest contributions to the index came from BIST-30 stocks, banking, and aviation sectors. In contrast, the decline in gold prices led to negative divergence in gold mining stocks. Global and regional geopolitical developments continue to be on the agenda, with the Russia-Ukraine ceasefire talks planned to be held in Istanbul on Thursday being closely monitored. Additionally, US President Trump's Middle East visit starting today stands out as an important agenda item for the markets. Today, the current account balance data for March will also be announced. Following yesterday's strong rise, the upward trend in BIST is expected to continue today.From a technical perspective, the BIST100 index closed yesterday at 9,747, showing a strong outlook. Surpassing the previously monitored transition zone of 9,475-9,580 indicates that the uptrend has gained momentum. As long as these levels are maintained, it is anticipated that the 9,740 resistance will be surpassed, targeting the 9,895 level. The 9,580-9,475 band is now considered a support zone, and as long as these levels are maintained, the expectation of an uptrend continues. Technically, support levels for BIST100 are 9,580, 9,475, 9,230, and 9,044; resistance levels are 9,740/50, 9,895, and 9,953.Most Valuable Companies in Borsa Istanbul:QNB Finansbank (QNBTR) → ₺887.75 billion market cap, ₺264.00 per share, down 0.38%Aselsan Elektronik Sanayi (ASELS) → ₺640.22 billion market cap, ₺137.8 per share, down 1.85%Türkiye Garanti Bankası (GARAN) → ₺446.88 billion market cap, ₺108.2 per share, up 1.69%ENKA İnşaat ve Sanayi (ENKAI) → ₺438.76 billion market cap, ₺71.60 per share, down 4.34%Türk Hava Yolları (THYAO) → ₺427.11 billion market cap, ₺305.50 per share, down 1.29%Precious Metals and Exchange Rates:Gold: ₺4,057Silver: ₺41.25Platinum: ₺1,242US Dollar (USD/TRY): ₺38.80Euro (EUR/TRY): ₺43.15We look forward to seeing you again tomorrow with the latest updates!
Daily Market Summary with JrKripto 11 May 2025
You can find today’s “Daily Market with JrKripto,” where we’ve compiled 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) is currently trading at $104,300. Following a strong uptrend that started from the $75,930 level, BTC continued its rise by breaking through the $101,059 resistance and then the $104,000 level. If this upward move continues, the next potential targets are $108,000 and $109,850. However, in the event of short-term profit-taking, $101,059 should be monitored as the first support level. If BTC falls below this level, the $96,115 and $94,570 support zones could come into play. To maintain the strength of the trend, it is important for BTC to stay above $101,000.Ethereum (ETH), on the other hand, has risen to the $2,550 level. The strong rally that started from the $1,486 support has accelerated after surpassing the $2,453 resistance. If this uptrend continues, $2,595 and subsequently $2,981 could be the next resistance targets. In case of a potential correction, $2,453 has now become the first support level. If this level is breached, the $2,095 and $1,790 support levels may come back into focus. To sustain the positive outlook for ETH, holding above $2,453 is crucial.Crypto NewsTrump announced that he will sign an executive order to lower drug prices.China will reduce tariffs on U.S. goods from 125% to 10% for 90 days!The U.S. has reduced its tariffs on Chinese goods from 145% to 30%.Zelensky: I will wait for Putin in Turkey on Thursday.“I expect a full, permanent ceasefire starting tomorrow.”The White House stated that more trade deals might be announced this week.OpenAI is in talks with Microsoft for new funding and a potential future IPO.Top Gainers:MOODENG → Up 65.5% to $0.26478145PI → Up 56.8% to $1.54TOSHI → Up 36.8% to $0.00085043WIF → Up 36.5% to $1.22GOAT → Up 35.8% to $0.22228838Top Losers:SYRUP → Down 8.7% to $0.27339711DEXE → Down 5.5% to $13.23BORG → Down 5.0% to $0.24050204QGOLD → Down 3.2% to $3,221.53PAXG → Down 3.1% to $3,228.13Fear Index:Bitcoin: 70 (Greed)Ethereum: 60 (Greed)Dominance:Bitcoin: 62.93% ▼ 0.36%Ethereum: 9.22% ▼ 0.49%Daily Net ETF Inflows:BTC ETFs: $321.40 MillionETH ETFs: $17.60 MillionGlobal MarketsThis morning, global stock markets are trading positively amid optimism stemming from progress in U.S.-China trade negotiations and a ceasefire between Pakistan and India. Statements made after weekend talks between the U.S. and China indicate that the trade war, which has caused uncertainty in the markets since the beginning of the year, may be nearing resolution. U.S. President Donald Trump announced on social media that significant progress has been made between the two countries, which would benefit both sides. He also stated that drug prices would be reduced by between 30% and 80%.U.S. stock indices closed flat on the last trading day of the week (Friday), but futures are trading with strong buying interest this morning due to the positive tone of the talks. On the economic data front, the Consumer Price Index (CPI) for April, due on Tuesday, and the Producer Price Index (PPI), scheduled for Thursday, will be in focus. In corporate earnings, Cisco Systems on Wednesday and Walmart and Alibaba on Thursday will be watched closely. Geopolitically, the ceasefire between Pakistan and India has helped reduce regional risks. Asian markets have started the week positively, and European markets are also expected to open with strong gains. Overall, global markets are showing a positive trend this week thanks to growing trade optimism and easing geopolitical risks.Most Valuable Companies and Stock Prices:Microsoft (MSFT) → $3.26T market cap, $438.73 per share, up 0.13%Apple (AAPL) → $2.97T market cap, $198.53 per share, up 0.53%NVIDIA (NVDA) → $2.84T market cap, $116.65 per share, down 0.61%Amazon (AMZN) → $2.05T market cap, $193.06 per share, up 0.51%Alphabet (GOOG) → $1.86T market cap, $154.38 per share, down 0.88%Borsa IstanbulAccording to the Industrial Production Index (IPI) data released for March, seasonally and calendar-adjusted industrial production increased by 3.4% compared to the previous month. However, the unadjusted raw data showed a 2.7% year-on-year decline. The main reason for this decline is that March this year had 1.5 fewer working days compared to last year. Such calendar differences can lead to distortions in annual comparisons. In the calendar-adjusted annual data, industrial production increased by 2.5%, indicating notable monthly gains in some sectors, though this increase was not widespread across all sectors.Domestically, key data such as retail sales volume, turnover indices, and construction cost index will be announced today. Additionally, tomorrow, the Treasury will hold bond auctions indexed to TLREF (Turkish Lira Overnight Reference Rate) and CPI (Consumer Price Index), both with 4-year maturities. The current account balance, budget balance, and CBRT Market Participants Survey, which will be released this week, will also be closely monitored for insights into the economic outlook.The BIST-100 index ended last week with a 2.4% gain. As the new week begins, a positive outlook is forming, supported by diplomatic developments. In particular, the announcement of a meeting to be held in Istanbul on Thursday for Russia-Ukraine peace talks could positively impact Turkey's risk premium if the process proceeds well. On the economic front, Treasury and Finance Minister Mehmet Şimşek is expected to meet with domestic investors at an investment conference organized by Ak Yatırım following his contacts with international investors.From a technical perspective, the BIST-100 index received support at the 9232 level during Friday’s intraday pullback and closed at 9391. Technically, the 9044 level remains a strong support zone. If the recovery from this level continues, the next target could be the 9475–9580 resistance band. If this band is breached, the short-term positive outlook could strengthen further, possibly pushing the index toward the 9740–9895 range. On the downside, the 9044–8870 zone is a critical support area. A drop below this range could trigger a more pronounced decline toward 8725–8618 levels.In general, Borsa Istanbul is expected to start the week with a bullish tone in parallel with the positive global market sentiment. However, the course of economic data and diplomatic developments should be monitored closely.Most Valuable Companies on Borsa Istanbul:QNB Finansbank (QNBTR) → ₺883.56 Billion market cap, ₺269.25 per share, up 2.09%Aselsan Elektronik Sanayi (ASELS) → ₺680.35 Billion market cap, ₺141.2 per share, down 5.36%Türkiye Garanti Bankası (GARAN) → ₺425.04 Billion market cap, ₺104.4 per share, up 3.16%Turkish Airlines (THYAO) → ₺405.72 Billion market cap, ₺304.00 per share, up 3.40%ENKA İnşaat ve Sanayi (ENKAI) → ₺398.9 Billion market cap, ₺74.20 per share, up 9.04%Precious Metals and Exchange Rates:Gold: ₺4080Silver: ₺39.91Platinum: ₺1225USD: ₺38.74EUR: ₺43.55See you again tomorrow with the latest news!
U.S. Vice President J.D. Vance Will Speak at the Bitcoin 2025 Conference
U.S. Vice President J.D. Vance will take the stage at the Bitcoin 2025 Conference, which will be held in Las Vegas from May 27 to 29, 2025. This speech will be the first public address in which a U.S. vice president openly supports Bitcoin. This event, which holds significant symbolic importance for the crypto world, shows the growing influence of Bitcoin in politics.Historic Conference, Historic SpeechBitcoin 2025 is a massive event expected to attract more than 30,000 participants from around the world. Vance, who will be part of the conference's “Code + Country” sessions, will deliver his keynote speech on the morning of May 28 at 9:00 AM.This speech is considered a continuation of the Trump administration’s clear stance on crypto. Coming exactly one year after President Donald Trump’s speech at the 2024 Bitcoin conference, this move demonstrates the ongoing public support for Bitcoin from the White House.Vance's Approach to BitcoinDuring his tenure in the Senate, Vance displayed an open attitude toward crypto assets and drew attention with his views on financial sovereignty. He frequently cited incidents such as the freezing of bank accounts in Canada in 2022 as examples of the control risks posed by centralized systems. He also publicly criticized the SEC’s strict enforcement actions against crypto companies.According to federal financial disclosures, J.D. Vance’s personal Bitcoin holdings are reported to be between $250,000 and $500,000. This positions him not only as a political supporter but also as an active investor who believes in crypto assets.Broad Participation, Strong MessagesThe Bitcoin 2025 conference is not limited to Vance’s speech. The event will also feature appearances by Eric Trump, Donald Trump Jr., White House Artificial Intelligence and Crypto Advisor David Sacks, Strategy Board Chairman Michael Saylor, and Silk Road founder Ross Ulbricht.This broad participation reveals how the crypto world has become a growing force not only in technology but also in the fields of economy and politics.
