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BTC Comments and Price Analysis 3 June 2025
BTC Short Term Technical AnalysisBitcoin maintains its short-term ascending channel structure. The price is currently at $106,266. It rose to the $107,171 resistance during the day, but the sell-off ate up from this level. This corresponds to both the channel upper band and the horizontal resistance zone. Unless it breaks, there is a high probability that the rise will remain limited. Short-Term Rising Channel The initial support below is in the $104,977 zone. This level also corresponds to the lower band of the channel. If a downward break comes, it is possible for the price to retreat first to the levels of $ 104,400, and then to the levels of $ 102,137. Especially the $102.137 level, the horizontal support where strong reactions have come before. In case of breaking, the area opens up to the December of $ 99,300- $ 98,600.In the upward scenario, $ 107,171 is the critical threshold. A close above this level could create a strong momentum to the $111.925 level. Since $107,171 is both a technical resistance and a psychological threshold, a volume break is a must. Otherwise, the price may face a repeat sale here.For the moment, although BTC is trading in the short-term ascending channel, it is worth being cautious because it is rejected in the resistance zone. Upward attempts can continue as long as the channel stays inside. However, closures below $ 104,977 indicate that the technical structure is broken.
Robinhood Acquires Cryptocurrency Exchange Bitstamp!
There was an important milestone in the cryptocurrency world. Robinhood, the US-based online investment platform, officially launched its international expansion in the crypto space by acquiring Bitstamp, one of the world's most established cryptocurrency exchanges, for $200 million. This acquisition is considered to be the most concrete step Robinhood has taken in its goal of reaching institutional crypto investors as well as retail investors.Robinhood acquires cryptocurrency exchange BitstampRobinhood Markets has completed the acquisition of Bitstamp, a global cryptocurrency exchange. Bitstamp, which has offices in Luxembourg, the UK, Slovenia, Singapore and the US, was founded in 2011 and this acquisition is expected to significantly accelerate Robinhood Crypto's worldwide expansion. Bitstamp has more than 50 active licenses and registrations worldwide. It will therefore bring customers from the EU, UK, US, and Asia to Robinhood. Bitstamp has a reputation for transparency and reliability, especially among institutional investors. With over 85 crypto assets listed, Bitstamp has long been seen as a safe haven for investors moving from traditional markets to crypto.Vlad Tenev, CEO of Robinhood, said in a statement after the acquisition that by integrating Bitstamp's many years of experience into their platform, “a more secure and integrated crypto trading era” will begin. The all-cash deal marks Robinhood's strong entry into the institutional crypto trading space, which it has so far shied away from.Opening new doors to Europe and AsiaRobinhood's move not only expands its product portfolio, but also accelerates the company's global growth strategy. The fact that Bitstamp already has an established and active user base in the European Union, the United Kingdom and Asian markets will allow Robinhood to quickly enter these regions. Thus, Robinhood aims to grow into a broader ecosystem targeting not only individual investors in the US, but also institutional players in Europe and Asia.Bitstamp's deep liquidity pools, advanced API connections, and infrastructure for high-frequency trading will be integrated into Robinhood's crypto trading systems, enabling it to provide 24/7 uninterrupted service. This means that Robinhood will offer a more comprehensive and competitive platform for both individual and institutional investors.“Bitstamp by Robinhood” era beginsFollowing the completion of the acquisition, Bitstamp will continue to operate under the name “Bitstamp by Robinhood”. While the brand's existing identity will be preserved, the technology infrastructure will be integrated with Robinhood systems to enhance user experience and product diversity. According to industry experts, this acquisition could be a harbinger of other crypto investments Robinhood will make in the future. It remains to be seen how Bitstamp will continue its operations after the Robinhood acquisition and how Robinhood will benefit from it.
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!
Corporate Bitcoin Wave Hits Europe: Multi-Million Euro Purchases!
Global companies are taking their interest in Bitcoin one step further. While institutional investor interest in cryptocurrency markets has peaked again, Bitcoin (BTC) purchases by Europe-based companies have attracted attention. France-based The Blockchain Group and Norwegian crypto exchange Norwegian Block Exchange (NBX) announced their latest Bitcoin (BTC) purchases. In addition to strengthening their balance sheets with BTC purchases, companies also experienced significant increases in their shares. Let's look at the details...The Blockchain Group adds 624 BTC to its treasuryThe Blockchain Group (ALTBG), based in France and traded on Euronext Growth Paris, detailed its Bitcoin purchases in a statement released today. According to the statement, ALTBG has aggressively increased its Bitcoin investments since the beginning of the year. The France-based company raised 6.8 million euros in a private equity placement on May 20, buying 80 BTC. This was followed by a €55.3 million convertible bond issuance backed by Fulgur Ventures on May 26, with the proceeds going to buy another 544 BTC. This brings its recent BTC purchases to 624 BTC. This brings the company's total BTC holdings to 1,471, equivalent to approximately €131.9 million. The average purchase price was 89.687 euros per BTC. The company's BTC yield in 2025 currently exceeds 1.097%.Norwegian Block Exchange also bought BitcoinThese developments are not limited to Europe. Norway-based crypto exchange Norwegian Block Exchange (NBX) recently announced that it has started buying Bitcoin. The company has invested 6 BTC in the first phase and plans to increase this amount to 10 BTC by the end of the month. NBX also announced that it will use these BTC as collateral to support USDM, a stablecoin running on the Cardano blockchain, and aims to generate returns on these assets. The company's share price rose around 120 percent after this announcement. NBX plans to offer Bitcoin collateralized loan products in the future and move towards becoming a crypto asset bank. This takes Norway's approach to Bitcoin at the institutional level one step further. As it can be remembered, Aker ASA, Norway's largest industrial conglomerate, had previously purchased 1,170 BTC through its subsidiary called Seetee.The impact of institutional BTC investments directly affects not only company portfolios but also share performances. According to the data, the total Bitcoin holdings of publicly traded companies exceeded 3 million BTC, while the market capitalization of this amount reached $342 billion.Increasing institutional interest in Bitcoin is likely to gain further momentum in the coming period, driven by both regulatory clarity and the macroeconomic environment. Companies now see Bitcoin not only as an investment vehicle, but also as a strategic element in terms of efficiency and capital attraction.
Giant Move from Reitar Logtech: $ 1.5 Billion Bitcoin Purchase Is on the Way
Hong Kong-based logistics technology company Reitar Logtech has officially announced a striking plan in a filing with the U.S. Securities and Exchange Commission (SEC): they plan to purchase up to $1.5 billion worth of Bitcoin (BTC).The company aims to carry out this purchase both to strengthen its financial reserves and to protect against global economic volatility. In the statement submitted to the SEC, it was stated that this strategic move is not only an investment but also part of a long-term plan to modernize the company’s financial structure.Strategic Reserve MoveReitar Logtech’s step also demonstrates how far the process of positioning Bitcoin not only as a speculative asset but also as a corporate reserve asset has progressed. The corporate reserve strategy led by the U.S.-based company MicroStrategy in its Bitcoin purchases is now beginning to inspire Asia-based major firms as well.Bitcoin for Financial StabilityAccording to the company’s statement, the targeted purchase amount is directly related to financial stability. Reitar Logtech is in search of an alternative asset against the depreciation seen in global currencies. Bitcoin, with its limited supply and decentralized structure, is considered a suitable solution for this need.Increase in Institutional InterestAs of 2025, institutional demand for Bitcoin has gained momentum. With SharpLink Gaming’s plan to adopt Ethereum as a reserve asset and the involvement of giants like BlackRock in public offerings, Reitar Logtech’s decision also indicates that digital assets will increasingly take place on corporate balance sheets.
FTSE-Listed IG Becomes First to Offer Spot Crypto Trading in the UK
London-based investment platform IG Group (IGG) announced that it has taken a significant step in the cryptocurrency market, becoming the first publicly traded company in the UK to offer spot cryptocurrency trading to individual investors. Until now, the company has only offered access to crypto assets through derivatives. This move enables it to expand its crypto reach with direct spot market trading for the first time.IGG to launch spot cryptocurrency tradingIG Group has become the first publicly listed company in the UK to offer spot cryptocurrency trading to individual investors. While some platforms have previously offered crypto services in the UK, they were either private companies or only offered derivatives (such as CFDs). The difference with IG's move is that it is both a publicly traded firm and it is launching direct spot trading, where traders can actually own BTC or ETH.Under the new service, traders will be able to conduct spot trades on Bitcoin (BTC), Ethereum (ETH) and various smaller tokens. The company has partnered with Uphold, a US-based crypto-focused fintech company, to offer this new service. Thus, crypto trading has been integrated into IG's platforms, where stocks, foreign exchange, commodities and derivatives are already traded.Previously, IG's access to the cryptocurrency market was limited to derivative instruments such as contracts for difference (CFDs). However, spot market trading, where users can directly own assets, significantly expands the range of services in this area. Following this development, IG Group shares rose by around 0.25% in intraday trading, with the FTSE 100 index flat. Source: FTSE Nevertheless, IG's move raises some question marks. Traders will have to ride out price fluctuations without leverage on the service. They will also bear the full tax burden on the gains and deposit protection insurance will not apply. The FCA is also still setting capital adequacy and asset security criteria for firms holding client crypto. This means that some changes to the compliance process may be required in the future.On the other hand, crypto markets remain buoyant in parallel with IG's product launch. As of June 2, the total market capitalization has reached nearly $3.3 trillion and the price of Bitcoin remains stable at around $105,000.Legal framework for cryptos on the agenda in the UKMeanwhile, cryptocurrencies and especially stablecoins remain on the agenda in the UK. In the country, draft laws covering crypto trading and stablecoin issuance activities were opened for discussion, with two separate public consultation documents published in April.
Strategy Strikes Again: Adds 705 Bitcoin to Its Treasury
As institutional Bitcoin investments continue unabated, Strategy Inc. (formerly MicroStrategy), the pioneer in this field, has once again taken the stage.Strategy expands its Bitcoin portfolioUS-based technology company Strategy Inc. (formerly MicroStrategy), which attracts attention with its Bitcoin investments, has once again added BTC to its treasury. The company bought 705 Bitcoin between May 26 and June 1, 2025, bringing its total reserve to 580,955 BTC. The purchase, which cost around $75 million, attracted attention in the crypto market, as every purchase does.The new purchase was made at an average cost of $106,495 per Bitcoin. Thus, Strategy's total BTC purchase price average so far rose to $ 70,023. The total value of Bitcoins held by the company reaches approximately $60 billion at current prices. This keeps Strategy on top as the world's largest institutional Bitcoin holder.The company funded the transaction through “at-the-market” (ATM) share sales through two separate classes of preferred stock traded under the STRK and STRF codes. Strategy raised $36.2 million by selling 353,511 STRK shares and $38.4 million by selling 374,968 STRF shares. New BTC purchases thanks to a capital increase totaling $74.6 million.BTC “tradition” since 2020Led by Michael Saylor, the company has been aggressively pursuing its “Bitcoin treasury” strategy since 2020. Saylor recently hinted that the purchase of Bitcoin would take place with his “Orange is my preferred color”, i.e. “My preferred color is orange” post on the social media platform X. At the same time, the company's shares are also performing strongly. MSTR shares, which have increased by more than 47% in the last three months, have outperformed most of the major technology companies. During the same period, Bitcoin itself rose around 22%, while Strategy shares generated a return more than double BTC profits. At times, Strategy trades at a premium of over 100% to the value of BTC assets.Metaplanet and GameStop also buying BitcoinOn the other hand, Strategy's aggressive Bitcoin strategy is not alone in the sector. As we recently shared, Japan-based Metaplanet announced that it has acquired another 1,088 BTC in a new announcement, bringing its total reserves to 8,888 BTC. It financed this purchase with zero-coupon bonds issued to EVO Fund.US-based retail giant GameStop also announced on May 28 that it purchased 4,710 BTC. This investment of approximately $512 million was made under the company's investment policy, which was updated in February 2025. GameStop CEO Ryan Cohen is known for his strong support for Bitcoin, as is Michael Saylor.
BTC Comments and Price Analysis 2 June 2025
BTC (4-Hour Chart) Technical AnalysisBitcoin (BTC), on the 4-hour chart, broke below the ascending trendline located around the $106,000 region and confirmed this technical breakdown by retesting the trendline twice. During these retests, the price also failed to surpass the horizontal resistance zone between $105,000 and $106,000, indicating that downward momentum is gaining strength in the short term. BTC Trend Break As of now, the price is hovering around the $104,000 level. This area is both a psychological level and a zone where short-term reaction points are located. However, for buyers to regain control, the price must first settle above $105,500. Otherwise, downward pressure may continue.The nearest strong support zone lies in the $99,000 – $101,000 range, where the price previously consolidated before a sharp upward movement. This zone stands out as a critical short-term defense line due to its nature as a horizontal support and the volume-based demand concentration in this area. A potential pullback to this region may attract increased buying interest.On the upside, the $106,000 and subsequently $107,170 levels should be monitored as resistance. Especially, sustained movement above $107,170 could invalidate the short-term bearish scenario and potentially drive the price back up toward the $111,925 level.Looking at the broader picture, Bitcoin’s recent all-time high confirms that the medium to long-term trend remains upward. Therefore, the current downward movement can be interpreted as a correction within the main trend for now. However, it should be noted that price action in the short term may remain volatile and cautious.In summary:– Trendline break confirmed, short-term pressure increased.– $105,500 – $106,000 is a strong resistance zone.– $99,000 – $101,000 is a critical support zone.– Overall structure remains positive; short-term correction continues.– Long-term bullish momentum may resume with a close above $107,170.
CoinShares Data: Funds Flowed to Ethereum, Solana and 3 Altcoins in One Week!
According to the latest “Digital Asset Fund Flows Weekly Report” published by CoinShares, cryptocurrency investment products saw new inflows of $286 million last week. This brings the total fund inflows for seven consecutive weeks to $11.1 billion. Ethereum, in particular, witnessed one of the largest fund inflows. However, despite the positive inflows, total assets under management (AUM) fell from $187 billion to $177 billion due to market volatility.Bitcoin stalls as Ethereum rally continuesEthereum led the way with weekly fund inflows of $321.4 million, totaling $1.19 billion over the last six-week period. This performance marks the strongest institutional interest since December 2024. Ethereum's total fund inflows since the beginning of the year have reached $ 1.4 billion.On Bitcoin's side, inflows, which started strong at the beginning of the week, were reversed by the uncertainty after a US court declared import tariffs illegal. As a result, it closed the week with an outflow of $8 million. This was the first weekly outflow after six weeks of strong inflows of $9.6 billion. Bitcoin's total fund inflow since the beginning of 2025 still stands at $10.2 billion.Other altcoins have mixed signalsAccording to the details of the report, Ethereum as well as several altcoins continued to attract investor interest. Sui, while positively differentiating with a weekly inflow of $ 2.2 million, has reached a net inflow of $ 98 million since the beginning of the year. Solana also closed the week with inflows of $1.5 million, maintaining its year-to-date inflow level of $81 million. However, outflows continued in some altcoins. XRP experienced outflows for the second week in a row, recording a negative flow of $28.2 million. Across 2025, it still has a net inflow of $198 million. Coins such as Litecoin ($200K), Cardano ($100K) and Chainlink ($800K) saw low levels of fund inflows. Chainlink, however, stands out with an outflow of $122 million for the year.Multi-asset products saw outflows of $2.4 million and Short Bitcoin products saw outflows of $3.6 million. The outflow observed especially in “Short Bitcoin” positions may indicate that short-term bearish expectations in the market are weakening.The US maintains its leadershipLooking at the regional breakdown, the US was by far the leader with a weekly inflow of 199 million dollars. The US, whose total fund inflows have reached USD 10.8 billion since the beginning of the year, was followed by two noteworthy Asian countries. Hong Kong displayed the strongest weekly performance in this area with a fund inflow of 54.8 million dollars last week. Germany and Australia entered the list with inflows of $42.9 million and $21.5 million, respectively.In contrast, Switzerland experienced the largest regional outflow of funds with a weekly outflow of $ 32.8 million. Switzerland stands out with a total outflow of 288 million dollars since the beginning of the year. Sweden ($3.9 million), Brazil ($3.2 million) and Canada ($21.1 million) were among the other countries that experienced outflows.
Hack Suspicion at Taiwan-Based Cryptocurrency Exchange: 11.5 Million Dollars Missing!
While security breaches in the cryptocurrency world are becoming more complicated every day, the alleged cyberattack suffered by the Taiwan-based exchange BitoPro has created a wave of concern in the industry. In this incident, which allegedly took place on May 8, approximately $11.5 million in assets were withdrawn from the exchange's hot wallets in suspicious transactions. These allegations, made by blockchain detective ZachXBT, have been complicated by the use of anonymization tools such as Tornado Cash and Thorchain. The silence of BitoPro, which has not made an official statement for more than three weeks, has created uncertainty.Alleged hack for cryptocurrency exchange BitoProTaiwan-based cryptocurrency exchange BitoPro is believed to have suffered a cyberattack worth approximately $11.5 million on May 8, according to on-chain analyst ZachXBT. Suspicious outflows were detected from hot wallets on various blockchain networks, including Tron, Ethereum, Solana and Polygon. However, more than three weeks after the incident, BitoPro has yet to make a public statement. ZachXBT posted on his Telegram channel that there have been suspicious outflows of funds from the exchange's hot wallets on multiple networks. It was stated that the stolen funds were transferred to the mixer service Tornado Cash, then bridged to Bitcoin via Thorchain and deposited into the Wasabi wallet. In this process, it became almost impossible to trace the funds. Because such mixers and cross-chain bridges are tools used to make it difficult to trace cryptocurrency transfers. Through mixers, attackers send cryptocurrencies to different addresses by splitting or mixing them. This breaks the connection between the source and the recipient of the assets.Users started sharing ZachXBT's claims on BitoPro's official Telegram channel. A few hours ago, a channel administrator posted the following message: “Many questions came in, we will respond to all of you collectively.” However, this message was not followed by a concrete statement. It remains unclear to what extent user assets were affected in the BitoPro attack. The person or groups who carried out the attack have not yet been identified.Bybit was hacked at the beginning of 2025This brings to mind the Bybit hack in early 2025, which resulted in a $1.4 billion loss. The Bybit attack similarly utilized mixer services such as Wasabi, Tornado Cash and Thorchain, circulating funds through cross-chain bridges and peer-to-peer (P2P) exchanges. According to the most recent statement by Bybit's CEO, more than 27 percent of the stolen funds, about $380 million, are still untraceable. The Lazarus Group, a notorious North Korean-backed cyber hacking group, is believed to be behind the attack.
Daily Market Summary with JrKripto 2 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 the general market conditions together and take a look at the latest evaluations.Bitcoin (BTC) started its upward trend from the $75,930 level and carried it to an all-time high (ATH) at $111,980, then pulled back due to profit-taking and is currently trading at $104,671. In the technical outlook, the $104,629 level is being followed as the first support, while below this level, support levels are located at $101,059 and $96,115. For the upward movement to regain strength, the $109,588 level needs to be surpassed. If it can stay above this resistance, $111,980 and $114,500 may be targeted.Ethereum (ETH), on the other hand, extended its upward movement from the $1,486 level to $3,004, then pulled back to $2,481 with the subsequent correction. Technically, the $2,385 level is an important support. Below this level, there are support levels at $2,098 and $2,004. For the continuation of the upward movement, the $2,711 resistance needs to be surpassed. Once this level is broken, the $2,838 and $3,004 levels may become targets again. Overall, ETH is in a horizontal consolidation phase, and holding above $2,385 is critical for the continuation of the positive scenario.Crypto NewsSHARPLINK GAMING has applied for a $1 billion IPO and plans to use the proceeds to purchase Ethereum.Cetus confirmed that the quarantined funds on Sui have been moved to a multisig safe wallet. The funds will remain secure until they are returned to users.WH Senior Advisor Hassett: Trump is considering a phone call with Chinese President Xi this week.U.S. Commerce Secretary Lutnick said tariffs “will not be lifted.”Elon Musk announced that X has launched its new 'XChat' messaging system with "Bitcoin-style" encryption.Top Gaining Cryptocurrencies:MASK → Up 27.8% to $2.57INC → Up 27.3% to $0.03161628KTA → Up 18.6% to $0.95564181AI16Z → Up 13.3% to $0.23943525FLR → Up 10.7% to $0.01914012Top Declining Cryptocurrencies:TKX → Down 6.6% to $31.52LPT → Down 6.2% to $8.27RAY → Down 4.8% to $2.36PLUME → Down 4.7% to $0.12862161GIGA → Down 3.7% to $0.02157426Fear Index:Bitcoin: 59Ethereum: 38Dominance:Bitcoin: 64.51% ▲ 0.05%Ethereum: 9.36% ▼ 0.52%Daily Net ETF Flows:BTC ETFs: -$616.10 MillionETH ETFs: $70.20 MillionKey Data to Watch TodayTime: 16:45 – Manufacturing Purchasing Managers Index (PMI) (May)Expectation: 52.3Previous: 50.2Time: 17:00 – ISM Manufacturing PMI (May)Expectation: 49.3Previous: 48.7Time: 20:00 – Fed Chair Powell’s SpeechGlobal MarketsU.S. stock markets opened sharply lower after President Donald Trump accused China of violating trade agreements. However, they managed to recover most of their losses by the end of the day. This rebound was driven by lower-than-expected April personal consumption expenditures (PCE) data and positive results in the University of Michigan consumer confidence survey.According to PCE inflation data, annual headline inflation dropped to 2.1%, and core PCE inflation, excluding food and energy, fell to 2.5%—the lowest since February 2021. Monthly inflation stood at 0.1%, in line with expectations. While service prices saw limited increases, the downward trend in goods prices ended with a 0.1% rise. The rise in disposable income was driven by social security payments.As a result, the S&P 500 index closed flat with a marginal 0.01% drop, the Nasdaq declined by 0.32%, and the Dow Jones rose by 0.13%. Eight of the 11 sectors in the S&P 500 closed higher, with consumer staples and utilities leading gains, while energy, consumer discretionary, and tech sectors declined.As the new week begins, trade tensions between the U.S. and China continue to escalate. China rejected Trump’s accusations and argued that the U.S. was the one violating the agreement. These developments created selling pressure in Asian markets and U.S. futures, and European markets are also expected to open lower.Meanwhile, expectations regarding the Federal Reserve’s interest rate policy have shifted slightly. While tariff policies may exert upward pressure on inflation, markets are now pricing in a total of 50 basis points in rate cuts for September and December.The University of Michigan’s consumer sentiment index for May was revised upward from the previous estimate of 50.8 to 52.2, marking a pause in the four-month decline. The index is still 24% lower than the same period last year. Short-term inflation expectations rose slightly to 6.6%, while 5-year long-term expectations declined from 4.4% to 4.2%.On the Chinese side, economic data signaled a recovery. The manufacturing PMI rose from 49.0 to 49.5 in May, slowing the contraction. The non-manufacturing PMI, covering services and construction, came in at 50.3, just above the growth threshold.Most Valuable Companies and Stock PricesMicrosoft (MSFT) → $3.42 Trillion market cap, $460.36 per share, up 0.37%NVIDIA (NVDA) → $3.3 Trillion market cap, $135.13 per share, down 2.92%Apple (AAPL) → $3 Trillion market cap, $200.85 per share, up 0.45%Amazon (AMZN) → $2.18 Trillion market cap, $205.01 per share, down 0.34%Alphabet (GOOG) → $2.09 Trillion market cap, $172.85 per share, down 0.06%Borsa Istanbul (BIST)In Q1 2025, the Turkish economy grew by 2% compared to the same period last year, and 1% on a quarterly basis. This growth was slightly below market expectations of 2.5% and the institutional forecast of 2.3%. The main driver was household consumption. Thanks to favorable credit conditions before the interest rate hike, consumption increased by 2% annually, contributing 1.6 percentage points to growth. Public spending rose by 1.2%, adding 0.2 points, and investments (fixed capital formation) grew by 2.1%, also contributing 0.2 points. However, while exports remained flat, a 3% rise in imports pulled growth down by 0.6 points. Growth was sustained by domestic demand in Q1, but this momentum is expected to weaken in Q2. We believe there are increasing downside risks to our 2025 growth forecast of 3.1%, and that growth may fall below 3%.In the labor market, negative developments were seen. In April, the seasonally adjusted unemployment rate rose from 8% to 8.6%, the highest since November 2024. The broader underemployment rate hit a record high, rising from 28.8% to 32.2%. The combined rate of time-related underemployment and unemployment rose to 22.5%, while the rate of unemployed and potential labor force remained at 20%. This sharp increase is thought to be partly due to temporary unemployment of daily wage workers during the holiday period.Price increases also continued. According to Istanbul Chamber of Commerce data, retail prices rose by 2.83% monthly and 46.57% annually in May. According to TÜRK-İŞ, the hunger threshold increased by 4.39% to 25,092 TL in May. The Ministry of Treasury and Finance will make domestic debt payments totaling 581.6 billion TL between June and August. In June, a borrowing of 278.9 billion TL is planned against payments of 265.6 billion TL.The Financial Stability Report published by the Central Bank indicated a shift in commercial loans in favor of TRY since March. Due to high commercial loan interest rates, credit growth is expected to remain moderate, and firms’ financial positions are generally considered manageable.Last week’s decline in Borsa Istanbul was driven especially by selling in banking stocks. The BIST-100 index dropped below 9,000 points during the session but closed slightly above that level. The Capital Markets Board (SPK) extended regulations on short selling bans, share buybacks, and margin trading until July 4. These measures are expected to provide short-term support to the market. However, due to settlement advantages during the holiday, some investors may still opt to sell. Tomorrow’s inflation data from TURKSTAT will be important; market expectation is around 2% monthly. The BIST-100 is expected to start the week with a flat movement above 9,000 points.Most Valuable Companies on Borsa IstanbulQNB Finansbank (QNBTR) → 867.65 Billion TL market cap, 258.50 TL per share, down 0.19%Aselsan Elektronik Sanayi (ASELS) → 590.98 Billion TL market cap, 130.00 TL per share, up 0.31%Türkiye Garanti Bankası (GARAN) → 444.78 Billion TL market cap, 107.70 TL per share, up 1.70%Türk Hava Yolları (THYAO) → 377.08 Billion TL market cap, 273.25 TL per share, no changeKoç Holding A.Ş. (KCHOL) → 359.34 Billion TL market cap, 140.40 TL per share, down 0.92%Precious Metals and Exchange RatesGold: 4,181 TLSilver: 41.93 TLPlatinum: 1,326 TLUSD: 39.26 TLEUR: 44.67 TLSee you again tomorrow with the latest updates!
Elon Musk Announces XChat - Emphasizing 'Bitcoin Style'
Elon Musk recently made an announcement. He announced that the social media platform, which he officially changed from Twitter to X in July 2023, will soon provide a new messaging feature called XChat. XChat highlights features such as encrypted conversations, lost messages, file transfers, voice and video calls. However, the only thing that caught the attention of the cryptocurrency community was the emphasis on “Bitcoin style” in its announcement.Bitcoin style emphasis in XChat announcementElon Musk said in a recent statement that X will soon launch XChat. XChat will have features such as encrypted conversations, lost messages, file transfers and video calls. However, Musk said that this new feature is “built on Rust with (Bitcoin-style) encryption, with a completely new architecture.” This has caused cryptography experts and developers to be skeptical of the development. “Bitcoin doesn't even use encryption,” Bitcoin Core developer and OCEAN CTO Luke Dashjr said in response to Musk's post. Another high-profile figure, Samson Mow, CEO of JAN3 and Pixelmatic, echoed this sentiment, adding, “Bitcoin is not encrypted.”Indeed, Bitcoin does not use encryption for message privacy. In particular, it uses complex cryptographic techniques such as elliptic curve cryptography and SHA-256 hashing for key generation and transaction verification.Developers also questioned XChat's connection to Rust following Musk's announcement. Eliza Labs founder Shaw Walters said that Bitcoin was written in C++ and Rust clients joined the network later.Telegram deal allegations The encrypted messaging issue comes after a public denial of a deal with Telegram. Last week, Telegram CEO Pavel Durov claimed that Telegram had entered into a one-year partnership with Musk's xAI, including a $300 million payment and app integration. However, Musk responded to this claim by saying, “No agreement has been signed.”Musk's XChat announcement comes a week after the US announced that he was leaving the D.O.G.E department. X also recently launched a new digital wallet called X Money.
Metaplanet Purchased Millions of Dollars of Bitcoin: Entered Top 10!
Japan-based company Metaplanet announced that it has purchased another 1,088 Bitcoin (BTC), bringing its total holdings to 8,888 BTC. That's why, now it ranks 10th among the largest publicly traded companies that bought Bitcoin. The company states that its year-end goal is to have 10,000 BTC in its corporate treasury.Bitcoin purchase from Metaplanet: It now has 8,888 BTCMetaplanet, which has recently made a name for itself with Bitcoin purchases, has again preferred the leading cryptocurrency. The Japan-based company added 1,088 BTC to its treasury earlier today. This now brings the company's total cryptocurrency holdings to 8,888 BTC, worth $930 million. The latest acquisition cost Metaplanet 16.885 billion yen. That is, Bitcoin was purchased at a price of 15.5 million yen per token. Metaplanet's BTC holdings. Source: Metaplanet Last week, Metaplanet announced that it had issued $50 million in zero-interest bonds to buy more Bitcoin. The 17th series of bonds, issued on May 29, have a face value of $525,000 each and will mature on November 28, 2025. Unlike traditional debt instruments, these bonds bear no interest and allow Metaplanet to borrow without additional repayment costs. The latest BTC purchase follows this move.10,000 BTC target by the end of the yearThe latest surge in Metaplanet's purchases brings the company closer to its year-end goal of 10,000 BTC. The company accelerated its Bitcoin accumulation this year, acquiring 7,126 BTC before even reaching the first half of 2025. Apparently, it decided to buy in the early days of the second half of the year as well. However, the company may also be trying to capitalize on Bitcoin's price retreat by buying. After all, the largest cryptocurrency by market capitalization hit an all-time high of $111,800 last week. At the time of writing, it is trading at $105,180. On a daily basis, it retreated to 103,860 dollars. The pullback after the peak may have affected the Japanese company's buying strategy.After first adopting the Bitcoin treasury strategy in April 2024, Metaplanet continued its cryptocurrency moves unabated. It quickly became Asia's largest public Bitcoin holder and among the top 10 global holders. However, US-based Strategy (formerly MicroStrategy) remains the world's largest BTC holder with 580,250 BTC.Metaplanet's biggest inspiration: StrategyMetaplanet CEO Simon Gerovich cited MicroStrategy's institutional Bitcoin strategy and the company's chairman Michael Saylor as the key inspiration for the company's adoption of Bitcoin as a treasury asset. Following the success of Strategy and Metaplanet, several other firms have joined the crypto treasure trove, including Twenty One, led by Jack Mallers. The company's shares jumpedAll these developments had a positive impact on Metaplanet shares. Metaplanet shares on the Tokyo Stock Exchange increased by more than 2 percent today. The company's stock had increased 20 times on an annual basis. Metaplanet's stock price for today.
Nigel Farage's Move for a Strategic Bitcoin Reserve For the UK
Nigel Farage Proposes Strategic Bitcoin Reserve at the Bank of EnglandAt the Bitcoin 2025 Conference in Las Vegas, Reform UK leader Nigel Farage made a striking announcement: they are preparing a legislative proposal that would establish a Strategic Bitcoin Reserve at the Bank of England. This proposal will be one of the core elements of the Crypto Assets and Digital Finance Bill that Reform UK plans to present to Parliament if the party comes to power.The proposed bill includes not only the creation of a reserve but also significant reforms such as reducing the capital gains tax on crypto earnings from 24% to 10%, and implementing regulations to prevent banks from denying services to crypto users. Farage argues that the UK’s current financial policies are outdated and that failing to integrate with the crypto economy could leave the country far behind U.S. and Asian markets.In his speech, Farage noted that over 7 million people in the UK own cryptocurrencies, with that figure rising to 25% among the younger population. Reform UK’s goal is to position London as one of the world’s leading hubs for crypto assets.A First in Political Finance: Accepting Crypto DonationsFarage also announced that Reform UK is the first major British political party to accept donations in Bitcoin and other cryptocurrencies. The donation process will be facilitated through a UK-based crypto payments platform that holds a VASP (Virtual Asset Service Provider) license. This step reflects Reform UK’s vision of integrating technology into politics.In line with Electoral Commission rules, donations will only be accepted from verified UK citizens, and all transactions will adhere to legal transparency standards.Emphasis on Financial Freedom and Digital SovereigntyFarage defines crypto not just as an investment vehicle but as a symbol of individual liberty and financial independence. He strongly opposes banks closing accounts of crypto users, describing such actions as “financial censorship.” The new bill explicitly aims to ban such practices.Farage voiced strong opposition to the idea of a central bank digital currency (CBDC), saying it would only be implemented “over his dead body.” According to him, CBDCs pose serious privacy risks by allowing central authorities to monitor citizens’ spending behavior.Farage’s proposals represent not only Reform UK’s political agenda but also a roadmap for the UK’s digital economy vision. If enacted, this legislation could position the UK as a leader in adopting and shaping the future of digital finance.
Daily Market Summary with JrKripto 30 May 2025
You can find today’s “Daily Market Update with JrKripto,” where we’ve compiled the most important developments from global and local markets, below. Let’s analyze the general market conditions together and review the latest updates.Bitcoin (BTC) is currently trading at $105,400. The long-term uptrend that began at $75,930 gained momentum after breaking through the resistance levels at $101,059 and $104,000, eventually reaching an all-time high (ATH) of $111,880. However, following profit-taking at this peak, BTC has broken below the $108,000 support level and is currently trading below it. This pullback signals a short-term bearish outlook, with $104,629 serving as intermediate support and $101,059 as a stronger support zone. In potential upward recoveries, the first resistance lies again at $108,000. If this level is breached, $111,000 and subsequently $114,500 could be targeted. However, to maintain its upward trend, it is critical for BTC to establish support above the $108,000 level.Ethereum (ETH) is currently trading at $2,610. The upward movement that began at $1,486 pushed the price above resistance levels at $2,453 and $2,595, reaching as high as $2,720. However, selling pressure from this region has dragged ETH back below the $2,595 level. The current price action points to a short-term correction. If the downward movement continues, $2,453 and $2,095 will serve as support levels. In case of upward recovery, $2,595 is once again the initial resistance. If surpassed, the next potential targets would be $2,800 and $2,981. For ETH’s positive outlook to regain strength, maintaining support above $2,595 is crucial.Crypto NewsBybit has obtained a MiCA license in Austria.Telegram raised $1.7 billion through convertible bonds to repay existing debt.Fed member Goolsbee: If tariffs are avoided through a deal or otherwise, we could return to a rate-cutting scenario.Bitcoin treasury firm Twenty One, backed by Tether, raised its total funding to $685 million following a second bond sale.White House: Trump told the Fed chair that not cutting rates is a mistake.The SEC Crypto Task Force met with Payward to discuss tokenization of traditional assets and staking services.SEC has dropped its lawsuit against Binance.Nigel Farage, leader of the UK Reform Party, will introduce a Strategic Bitcoin Reserve bill.Top Gainers:LPT → Up 86.7% to $10.45VENOM → Up 16.7% to $0.12698581SAFE → Up 13.0% to $0.67709936DEXE → Up 12.6% to $14.10ZBCN → Up 12.0% to $0.00621744Top Losers:PNUT → Down 20.6% to $0.27233779SYRUP → Down 16.9% to $0.34540183MOG → Down 16.2% to $0.00000101OM → Down 16.0% to $0.32981439DOG → Down 15.8% to $0.00441292Fear Index:Bitcoin: 66Ethereum: 60Dominance:Bitcoin: 63.96% ▲ 0.40%Ethereum: 9.64% ▼ 0.07%Daily Net ETF Flows:BTC ETFs: -$346.80 MillionETH ETFs: $91.90 MillionKey Economic Data to Watch Today:15:30 – Core Personal Consumption Expenditures (PCE) Price Index (YoY, April)Forecast: 2.5%Previous: 2.6%15:30 – Core PCE Price Index (MoM, April)Forecast: 0.1%Previous: 0.0%Global MarketsU.S. stock indices opened strong thanks to Nvidia’s solid financial results and the U.S. International Trade Court’s decision to block tariffs imposed by President Donald Trump. However, profit-taking occurred during the day after a federal appeals court temporarily halted this decision. Still, the indices closed higher: S&P 500 up 0.40%, Dow Jones up 0.28%, and Nasdaq up 0.39%.Ten out of eleven S&P 500 sectors ended the day in positive territory, with the best performers being real estate (+0.95%), healthcare (+0.74%), and infrastructure (+0.69%). Telecommunications was the only sector to close lower (-0.35%). Nvidia shares rose 3.2%.On the macroeconomic front, the U.S. economy contracted at an annualized rate of 0.2% in Q1 2025. While this is less than the initial estimate of -0.3%, it marks the first economic contraction since 2022. The upward revision was mainly due to stronger-than-expected investment spending. However, personal consumption grew only 1.2%, the lowest rate since Q2 2023. Government spending fell by 4.6%, the sharpest decline since 2022. Fixed investment rose 7.8%, and exports grew 2.4%. Imports surged 43%, suggesting that consumers and businesses pulled forward demand ahead of high tariffs.Initial jobless claims in the U.S. rose by 14,000 to 240,000 for the week ending May 24 (forecast: 230,000). The four-week moving average dropped by 250 to 230,750. Continuing claims rose by 26,000 to 1.92 million for the week ending May 17.Today, the markets are focused on April’s PCE inflation data, closely monitored by the Fed. The forecast is for monthly inflation to rise 0.1% and annual inflation to increase to 2.2% from 2.3% in March. Additionally, preliminary CPI data from Germany for May, U.S. personal income and spending, trade balance, and the University of Michigan’s final consumer sentiment index will be released. German CPI is expected to continue its gradual decline.Asian indices opened slightly lower this morning, while European indices began the day in positive territory. Although trade policy uncertainty continues to cap gains, Nvidia’s strong results and today’s U.S. inflation data remain in sharp focus.Top Companies by Market Value and Stock PricesMicrosoft (MSFT) → $3.41 trillion market cap, $458.68 per share, up 0.29%NVIDIA (NVDA) → $3.4 trillion market cap, $139.19 per share, up 3.25%Apple (AAPL) → $2.99 trillion market cap, $199.95 per share, down 0.23%Amazon (AMZN) → $2.18 trillion market cap, $205.70 per share, up 0.48%Alphabet (GOOG) → $2.09 trillion market cap, $172.96 per share, down 0.24%Borsa IstanbulAccording to final data released by TURKSTAT, Turkey’s foreign trade deficit in April stood at $12.1 billion—close to the provisional figures earlier released by the Ministry of Trade. In the same period, exports increased 7.8% year-over-year to $20.8 billion, while imports rose 12.7% to $32.9 billion. As a result, the trade deficit for the first four months of 2025 reached $34.6 billion, a 14.7% increase compared to the same period last year. The 12-month rolling trade deficit reached $86.7 billion, the highest since June 2024.Important domestic data releases are expected today. April’s unemployment rate, Q1 2025 GDP figures, and the Central Bank’s Financial Stability Report will be published. In Q4 2024, Turkey’s economy grew 3.0% annually and 1.7% quarter-on-quarter (seasonally and calendar-adjusted). For Q1 2025, annual growth is expected to be around 2.0%.The BIST-100 index is trying to find support just below the 9,200 mark—near its lowest dollar-based level in a year. Since the beginning of the month, the banking, telecommunications, and energy sectors have shown strong performance, while chemical, cement, aviation, retail, and insurance sectors have remained weak. Today, GDP data will be released at 10:00 a.m., followed by the Central Bank’s Financial Stability Report at 10:30 a.m. Next Tuesday, May’s inflation figures will be published. Forecasts suggest monthly inflation around 2.0%. A flat trading day is expected on BIST-100.Technically, the BIST-100 index tested 9,265 intraday yesterday before pulling back and closing at 9,171. The index is trying to hold above the previous support band of 9,148–9,044. While rebound attempts remain weak, efforts to stabilize in this zone may continue. If not, further weakness could follow. A close above 9,475 would signal renewed optimism. Intermediate resistance levels are at 9,224 and 9,325, while strong resistance lies at 9,475/9,500, 9,588, and 9,740/9,760. Support zones are at 9,148, 9,074/9,044, 8,984, 8,872, and 8,618.Top Companies by Market Value on Borsa IstanbulQNB Finansbank (QNBTR) → 886.08 billion TL market cap, 264.50 TL per share, no changeAselsan Electronic Industries (ASELS) → 602.83 billion TL market cap, 129.30 TL per share, down 2.19%Garanti Bank (GARAN) → 460.32 billion TL market cap, 106.10 TL per share, down 3.19%Turkish Airlines (THYAO) → 384.33 billion TL market cap, 277.00 TL per share, down 0.54%Koç Holding A.Ş. (KCHOL) → 362.63 billion TL market cap, 143.50 TL per share, up 0.35%Precious Metals and Exchange RatesGold: 4,152 TLSilver: 41.81 TLPlatinum: 1,361 TLUSD: 39.22 TLEUR: 44.58 TLSee you again tomorrow with the latest updates!
