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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.
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 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.
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!
At the Bitcoin 2025 Conference in Las Vegas on May 28, 2025, U.S. Vice President JD Vance Took the Stage and Delivered Perhaps the Clearest Political Message Yet for the Crypto IndustryVance not only shared his personal belief in Bitcoin but also underscored the Trump administration’s full support for cryptocurrencies.“Today, standing here with President Trump, I say this loud and clear… There is now a true friend and supporter of crypto in the White House.”This statement is more than symbolic. In his speech, Vance emphasized that crypto will play a strategic role for the United States, particularly noting that Bitcoin is set to become a significant national asset in the coming decade.Bitcoin: A New Era’s National Safeguard?Another key point highlighted by Vance was that Bitcoin should be seen not merely as an investment tool but also as a safeguard against poor policy-making in Washington and discrimination in the private sector:“Crypto is a hedge against bad policy in Washington. It’s a shield against rising inflation and growing discrimination by the private sector against consumers.”This perspective indicates that cryptocurrencies are now more than just economic instruments—they’ve become tools for taking political positions. Vance’s remarks suggest that the institutionalization of Bitcoin by the state is no longer an ideal but an active policy.Over 100 Million Americans Could Own BitcoinOne of the most striking moments of the speech was Vance’s projection:“Soon, more than 100 million Americans will own Bitcoin.”This statement clearly shows that the role of cryptocurrencies in the U.S. economy is expected to go beyond being a technical or niche issue, evolving into a widespread societal adoption.Defending Bitcoin Through Anti-China RhetoricVance’s speech also included a foreign policy angle. Drawing attention to China’s hostile stance on Bitcoin, Vance stated:“The People’s Republic of China doesn’t like Bitcoin. So why not? If our biggest rival is against Bitcoin, maybe the United States should embrace it.”This approach reveals that Bitcoin is now viewed not only as financial technology but also as a geopolitical symbol and a strategic tool in international competition.A Call to the Crypto Community: Become a Political ForceIn the final part of his speech, Vance directly addressed the crypto community, emphasizing the importance of political engagement. Referring to the efforts made during the 2024 elections, he said:“You must carry the political momentum you built in 2024 into 2026 and beyond.”This call implies that crypto users should not only stand by the technology but also actively claim their right to political representation.Crypto Is No Longer Just a Technology—It’s a Political MovementJD Vance’s statements show that the perception of cryptocurrencies in the U.S. is undergoing a profound transformation. The White House is no longer a distant observer of crypto—it is now a direct supporter. This could mark a major turning point for not just Bitcoin, but the entire digital asset ecosystem.In America today, there is a government that no longer opposes crypto—but moves forward with it.
2025: A Year of Bold Governmental Moves in the Crypto World — Pakistan Launches Its Strategic Bitcoin ReserveThe year 2025 is shaping up to be a period of significant governmental strides in the world of cryptocurrencies. Among the most notable moves comes from Pakistan. On May 28, 2025, during the Bitcoin 2025 Conference held in Las Vegas, the Pakistani government officially announced the establishment of its own Strategic Bitcoin Reserve.The announcement was made by Bilal Bin Saqib, Chairman of the Pakistan Crypto Council and Special Advisor to the Prime Minister on Crypto and Blockchain. Saqib’s statements represent not just a new economic vision, but a clear break from the past:“Pakistan is no longer defined by its past. It is being reborn as a forward-looking hub of digital innovation, empowered by its youth, sharpened by necessity, and led by a new generation of tech-savvy statesmen.”National Bitcoin Wallet and a No-Sell CommitmentThis reserve will be held in a national Bitcoin wallet established by the government. Saqib emphasized that these Bitcoins will not be sold and carry no speculative intent:“This is not a trade; it’s a strategic asset plan. We will hold these Bitcoins and never sell them.”This statement signals that the government views digital assets not as vehicles for short-term profit but as instruments of long-term economic security and technological strategy.Inspired by the U.S., Acted on by PakistanPakistan’s decision came shortly after U.S. President Donald Trump announced plans to establish a strategic Bitcoin reserve in March 2025. Bilal Bin Saqib noted that Pakistan was directly inspired by this move. The similarity highlights how nation-states are increasingly incorporating digital assets into their reserve strategies.It also marks a sharp departure from Pakistan’s previously cautious stance on cryptocurrencies. A government that once said “crypto will never be legal” has now transformed into a nation establishing a Bitcoin reserve on the global stage.2,000 Megawatts of Energy Allocated for Crypto MiningIn addition to the strategic reserve, the Pakistani government announced plans to allocate 2,000 megawatts of surplus electricity for Bitcoin mining and high-performance AI data centers. This initiative serves three primary goals:Utilizing idle energy resourcesCreating technology-driven employmentAttracting foreign investmentDue to high electricity tariffs and the widespread use of solar energy, the surplus is now being turned into an advantage. With this step, Pakistan aims to become a new regional hub for mining and data center investments.Digital Asset Authority and a New Wave of RegulationThe Pakistani government is not only investing in reserves and infrastructure but also taking steps to build a comprehensive regulatory framework. The Ministry of Finance has approved the establishment of a new institution called the Pakistan Digital Asset Authority (PDAA). This authority will license and regulate:Cryptocurrency exchangesDigital asset custody servicesTokenization platformsDeFi applicationsFinance Minister Muhammad Aurangzeb stated that the PDAA will also play an active role in areas such as blockchain-based debt instruments, tokenization of state assets, and the development of decentralized finance infrastructure.International Partnerships: Binance Founder Joins as AdvisorThe Pakistan Crypto Council is placing significant emphasis on global collaboration during this transformation. Among the Council’s advisors is Binance co-founder Changpeng Zhao. Appointed as a strategic advisor in April 2025, Zhao has since been supporting Pakistan in blockchain infrastructure, crypto regulation, and the adoption of digital assets.From Crypto Rejection to Global Crypto PlayerPakistan’s establishment of a strategic Bitcoin reserve is not merely symbolic—it marks a structural policy shift. Crypto-friendly regulations, the integration of national energy resources with new technologies, and comprehensive regulatory initiatives all have the potential to position Pakistan as a regional digital asset hub.Once known for its bans, Pakistan now wants to be recognized for its Bitcoin reserve.
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 take a look at the latest evaluations.Bitcoin (BTC) is currently trading at $108,380. The long-term upward trend that began at $75,930 gained momentum after breaking through the resistance levels at $101,059 and $104,000. The price surged to $111,880, setting a new all-time high (ATH). However, following this peak, profit-taking led to a pullback, bringing BTC down to around $108,000. At the moment, BTC is moving within a horizontal consolidation range between $108,000 and $111,000. If the price breaks upward from this range, $114,500 and $118,300 are potential resistance targets. On the other hand, if the price breaks downward, $108,000 is the first support level to watch. Should this level fail to hold, the next support zones are $104,629 and $101,059. Maintaining above the $108,000 level is critically important for the continuation of the bullish trend in BTC.Ethereum (ETH) is currently trading at $2,720. The strong upward trend that began at $1,486 gained momentum after breaking through the resistance levels at $2,453 and $2,595. Following a recent correction, the price has climbed to $2,720. ETH is currently exhibiting horizontal price movement within the $2,595 – $2,800 range. If this consolidation zone is broken to the upside, $2,981 and the psychological resistance at $3,000 could be targeted. On the downside, $2,595 is the first support level, followed by $2,453 and $2,095 if it breaks below. The outlook for ETH remains positive, but sustaining above the $2,800 level is necessary for the upward momentum to strengthen.Crypto NewsU.S. Vice President JD Vance: “Soon, more than 100 million Americans will own #Bitcoin.”Nvidia Q1 2025 Earnings: Came in above expectations at $44.1 billion.Pakistan is establishing a strategic Bitcoin reserve under government leadership.A federal court ruled that Trump does not have the authority to impose tariffs under economic emergency legislation.The Central Bank of Russia announced it will allow financial institutions to offer crypto-linked derivatives, securities, and digital financial assets to qualified investors.Top Gainers:ZBCN → Up 32.0% to $0.00550774SPX → Up 21.7% to $1.18EIGEN → Up 11.4% to $1.67TON → Up 8.7% to $3.35IOTX → Up 8.6% to $0.02358207Top Losers:PLUME → Down 7.9% to $0.1474069SYRUP → Down 7.2% to $0.41507846DEEP → Down 4.8% to $0.17444699GRASS → Down 4.6% to $2.14AI16Z → Down 4.2% to $0.29408506Fear Index:Bitcoin: 73Ethereum: 62Dominance:Bitcoin: 63.46% ▼ 0.45%Ethereum: 9.86% ▲ 2.28%Daily Total Net ETF InflowsBTC ETFs: $432.70 MillionETH ETFs: $84.90 MillionKey Data to Watch Today15:30 – Gross Domestic Product (GDP) (Quarterly) (Q1)Forecast: -0.3%Previous: 2.4%15:30 – Initial Jobless ClaimsForecast: 229KPrevious: 227K19:00 – EIA Crude Oil InventoriesForecast: 1.000M barrels increasePrevious: 1.328M barrels increaseGlobal MarketsThis morning, global risk appetite is trending positively. The decision by the U.S. International Trade Court to halt tariffs imposed by former President Trump on imports—citing an overreach of legal authority—was welcomed by the markets. Following this development, U.S. stock index futures, which had closed lower yesterday, are showing gains of up to 2% this morning. Similarly, futures in Asian and European markets are also on the rise.Yesterday, U.S. equity indices closed in negative territory. The Fed’s May FOMC meeting minutes emphasized the increased uncertainty due to import tariffs and stated that interest rate policy changes should wait until there is more clarity on the economic outlook. Additionally, concerns were raised about inflation being more persistent than expected and rising unemployment risks. As a result, investor risk appetite decreased, and selling pressure intensified. The S&P 500 fell 0.56%, the Dow Jones 0.58%, and the Nasdaq 0.51%. All sectors posted negative performances, with infrastructure, raw materials, and energy leading the losses.Meanwhile, Nvidia’s much-anticipated Q1 results were released. Although its net profit of $0.81 per share slightly missed expectations, revenue came in stronger than expected at $44.1 billion. Despite ongoing restrictions in the Chinese market, these robust results were positively received by both Nvidia shareholders and the broader market.Today’s economic data flow is highlighted by U.S. Q1 GDP figures and personal consumption expenditures. These indicators could be key in determining market direction. Overall, Trump’s trade policies and the Fed’s cautious stance continue to be major influences on global markets.Most Valuable Companies and Stock PricesMicrosoft (MSFT) → $3.4 trillion market cap, $457.36 per share, down 0.72%NVIDIA (NVDA) → $3.29 trillion market cap, $134.81 per share, down 0.51%Apple (AAPL) → $2.99 trillion market cap, $200.42 per share, up 0.10%Amazon (AMZN) → $2.17 trillion market cap, $204.72 per share, down 0.63%Alphabet (GOOG) → $2.1 trillion market cap, $173.38 per share, down 0.34%Borsa IstanbulDomestically, Turkey’s Economic Confidence Index rose slightly to 96.7 in May. While consumer and sectoral confidence indices increased, business confidence declined. Today, TURKSTAT will release the final foreign trade data for April. According to preliminary data from the Ministry of Trade, exports rose 8.5% year-over-year to $20.9 billion, while imports increased by 12.9% to $33 billion. Consequently, the trade deficit rose by $2.1 billion year-over-year, reaching $12 billion. On Friday, Q1 2025 GDP data and the Central Bank of Turkey’s Financial Stability Report will be released.The BIST-100 index closed at 9,178 yesterday, continuing its downward movement. The index tested 9,248 with a limited intraday rise but then fell back due to selling pressure, ending the day near its lowest dollar-based level in a year. The technical outlook remains weak, with the 9,148–9,044 band seen as a relatively strong support zone. A short-term rebound may occur at these levels, but a drop below this range could signal further weakness.Closures above 9,475 could signal renewed optimism. Intraday resistance levels are at 9,224, 9,325, 9,331, and 9,410, while the main resistance levels are at 9,475/9,500, 9,588, and 9,740/9,760. Support levels are at 9,148, 9,074/9,044, 8,984, 8,872, and 8,618. The index is expected to move sideways today. Key data releases this week include Friday’s GDP figures and the Central Bank’s report.Top Companies by Market Value on Borsa IstanbulQNB Finansbank (QNBTR) → Market cap: 863.46 billion TL, price per share: 257.75 TL, no changeAselsan Electronic Industries (ASELS) → Market cap: 616.06 billion TL, price per share: 132.70 TL, down 1.78%Garanti Bank (GARAN) → Market cap: 467.04 billion TL, price per share: 110.80 TL, down 0.36%Turkish Airlines (THYAO) → Market cap: 381.57 billion TL, price per share: 278.25 TL, up 0.63%Koç Holding (KCHOL) → Market cap: 364.66 billion TL, price per share: 143.70 TL, down 0.07%Precious Metals and Currency PricesGold: 4,111 TLSilver: 41.88 TLPlatinum: 1,364 TLUSD: 39.09 TLEUR: 44.06 TLSee you again tomorrow with more market updates!
BlackRock’s iShares Bitcoin Trust (IBIT) ETF was launched as one of the 11 spot Bitcoin ETFs approved by the SEC in January 2024. Since then, it has grown rapidly, surpassing $72 billion in net assets, securing the top spot in its category. Its closest competitor, Fidelity’s Wise Origin Bitcoin Fund (FBTC), trails by nearly $50 billion.According to the latest SEC filings, the BlackRock Strategic Income Opportunities Portfolio increased its holdings of IBIT shares from 1,691,143 as of December 31, 2024, to 2,123,592 as of March 31, 2025. This represents a quarterly increase of approximately 25%. Internal model portfolios reportedly allocated between 1% and 2% to IBIT, clearly indicating that Bitcoin is now accepted as an alternative asset class among institutional investors.Moreover, the IBIT fund has recorded remarkable inflows in recent months amid growing investor demand. In just two days, it received $1.5 billion in net inflows. Since April 9, the fund has seen daily inflows, with some days exceeding $500 million. These figures confirm that demand for Bitcoin ETFs remains strong and institutionally driven.New Steps Deepening Bitcoin StrategyBlackRock hasn't just invested in its own ETF; it has also diversified exposure through other Bitcoin-focused products:70,971 shares in Fidelity’s FBTC fund200 shares in Grayscale’s GBTC and 40 shares in its mini versionThis move illustrates BlackRock’s effort to diversify indirect exposure to Bitcoin.Furthermore, BlackRock’s interest in Bitcoin extends beyond ETFs. The firm has acquired over 620,000 Class A shares of MicroStrategy, along with nearly 15 million shares via two separate MicroStrategy convertible notes. The total value of this investment exceeds $4.23 billion. Investments in Bitcoin mining companies Riot Platforms and MARA Holdings are also part of this broader strategy.BlackRock’s Global Allocation Fund also increased its exposure to the IBIT fund by 91%, reaching a total of $47.4 million. This indicates that the overall strategy is not limited to specific funds but part of a broader asset allocation plan.Institutional Inflows ContinueBlackRock’s moves underscore how Bitcoin has cemented its place in traditional portfolios, signaling that institutional investors are entering a phase of more aggressive positioning. Investments via IBIT, allocations in model portfolios, and large-scale strategic purchases point to strong institutional demand for Bitcoin throughout 2025. Some managers, like Bitwise, forecast that this demand could reach $300 billion by 2026.
On May 27, 2025, former U.S. President Donald Trump’s media company, Trump Media & Technology Group (DJT), announced a massive $2.5 billion Bitcoin investment plan. This development is considered the company’s most significant strategic move toward digital assets to date. The company’s new strategy is seen not only as a financial investment but also as an ideological stance.Financial Structure and Deal DetailsTrump Media secured commitments for a $2.5 billion capital raise through subscription agreements with approximately 50 institutional investors. The breakdown of this funding is as follows:$1.5 billion from the sale of common stock,$1 billion from the issuance of 0% interest convertible senior secured notes.The raised capital will be used to add Bitcoin to the company’s balance sheet. This move will go down as one of the largest Bitcoin investments ever made by a publicly traded company.Company Statement: “Bitcoin Is the Symbol of Financial Freedom”Trump Media CEO Devin Nunes commented on the strategy with the following statement:“We see Bitcoin as the pinnacle of financial freedom. Allocating a significant portion of our company’s assets to Bitcoin is part of our mission.”Nunes also emphasized that this step provides an alternative to the discriminatory practices of the traditional financial system. The company plans to store its Bitcoin securely through institutions like Crypto.com and Anchorage Digital.Strategic Background and Political ContextThis move aligns with the “Strategic Bitcoin Reserve” plan announced by the Trump administration in March 2025, which aims to cement the U.S.’s leadership in digital assets.Previously, the Trump family entered the crypto space with the $TRUMP memecoin project bearing their name. That initiative had sparked public debate about ethics and conflicts of interest.A New Chapter at the Intersection of Crypto and Traditional MediaTrump Media’s $2.5 billion Bitcoin investment may mark a new milestone in the institutional adoption of cryptocurrencies. This step sends a powerful signal to both the media sector and the financial world. However, market reactions suggest that more time is needed to fully assess the impact of the strategy.
The Bitcoin 2025 Conference kicked off this week in Las Vegas. Held between May 27–29, the event is closely followed not only by the crypto world but also by global economic and political observers.The conference comes right after Bitcoin reached its all-time high of $111,000 last week. Although prices are currently moving sideways, the messages coming out of Las Vegas may point to a new direction.Not Just a Conference — The Pulse of the IndustryThe event is being held at the Venetian Conference Center. Attendance is at record levels: over 30,000 visitors, more than 400 speakers, and over 5,000 companies. Events like this are no longer just about technology. The future of Bitcoin is being shaped here.Big Stage, Big WordsThe opening will be made by U.S. Vice President J.D. Vance. Vance is expected to clearly express his support for Bitcoin and relate this support to the financial strategy of the United States.The list of speakers shows just how political and global the sector has become:Senator Cynthia LummisSEC Commissioner Hester PeirceMicroStrategy CEO Michael SaylorTether CEO Paolo ArdoinoRobinhood CEO Vlad TenevTron founder Justin SunThe Winklevoss twinsWhite House crypto advisorsAnd Donald Trump’s sonsOne of the surprises is that a message from Silk Road founder Ross Ulbricht will be shared at the event.What’s on the Table?The agenda of the conference is quite full. The main topics are as follows:Bitcoin’s technical infrastructure: Layer-2 solutions, BitVM2, and DeFi integrationLightning Network: Micro payments and new use casesETFs and financial products: The direction of institutional investmentRegulations: The U.S. political approach and signals of new legislationMining: Sustainability, energy efficiency, and environmental impactsEach session invites attendees to rethink how Bitcoin is not only an investment tool but a building block for the future of the financial system.Why Is It Important?Last year’s conference in Nashville made a big splash. The fact that this year’s event moved to Las Vegas is no coincidence. We’re in a symbolic city where finance and politics intersect in the U.S. The conference is not only spotlighting technological developments but also political positions.Bitcoin is entering an entirely new phase in 2025. Institutional interest, regulatory steps, and public awareness are all rising rapidly. This gathering in Las Vegas has become a focal point where all these themes converge.The Bitcoin 2025 Conference is not just an industry event; it is a space where ideas, investments, and policies take shape. The messages coming out of here will guide not only price charts but also the financial system of the future.What happens in Las Vegas this time… won’t stay in Vegas.
You can find below today’s “Daily Market with JrKripto” report, in which we compile the most important developments in global and local markets. Let’s analyze the general market conditions together and take a look at the latest evaluations.Bitcoin (BTC) is currently trading at $109,750. The long-term upward trend that started from the level of $75,930 gained momentum by breaking through the $101,059 and $104,000 resistances and reached $111,880, refreshing the all-time high (ATH) record. The slight pullback seen after this peak is considered as the market’s process of digesting profit-taking. Technically, the level of $108,000 continues to act as an important short-term support. As long as it holds above this level, $114,500 and $118,300 levels may be targeted again. In case of increasing downward pressure, the levels of $104,629 and $101,059 will be followed as supports. For the positive trend in BTC to continue, maintaining above $108,000 is of great importance.Ethereum (ETH) is currently trading at $2,630. The upward trend that started from the level of $1,486 gained speed after surpassing the $2,453 and $2,595 resistance levels, and ETH has once again gained upward momentum following the correction. In the current outlook, the level of $2,595 now acts as strong support. As long as it remains above this level, $2,800 and $2,981 stand out as potential targets. In possible pullbacks, if it drops below $2,595, the support zones of $2,453 and $2,095 may come into focus respectively. To maintain the upward trend in ETH, staying above $2,595remains important.Crypto News– Japan plans to allocate 900 billion yen in government funds for an emergency aid package in response to U.S. tariffs.– Florida has become the first state to promote lifting capital gains taxes on Bitcoin.– Trump: “Countries around the world want to make trade agreements with us.”– Strategy announced that it has purchased 4,020 Bitcoins at $106,237.– Trump Media Group aims to raise $3 billion in funds to invest in cryptocurrencies.CryptocurrenciesTop Gainers:CAKE → up 15.3%, reaching $2.86CHEX → up 13.6%, reaching $0.23239787QNT → up 12.4%, reaching $107.73FRAX → up 11.2%, reaching $3.57VIRTUAL → up 9.6%, reaching $2.45Top Losers:ZBCN → down 18.8%, falling to $0.00416172KTA → down 7.7%, falling to $0.80173763TEL → down 6.8%, falling to $0.000442572XMR → down 6.2%, falling to $386.28SYRUP → down 4.9%, falling to $0.42535468Fear Index:Bitcoin: 74Ethereum: 57Dominance:Bitcoin: 64.22% ▼ 0.19%Ethereum: 9.21% ▲ 0.61%Global MarketsOn the last trading day of the week, new tariff policies announced by U.S. President Donald Trump caused selling pressure in global markets. Trump announced that a 50% customs tariff would be applied to products imported from the European Union and that a 25% customs tax would be applied to iPhones if Apple produces them outside the U.S. He also stated that similar taxes would be imposed on Samsung and other smartphone manufacturers.Following these announcements, U.S. stock indexes started the day with losses. However, some of the losses were recovered during the day. The S&P 500 closed down 0.67%, the Dow Jones down 0.61%, and the Nasdaq down 1.00%. Only 4 out of 11 sectors in the S&P 500 closed positive. The best performance was seen in the infrastructure sector with a 1.16% rise. Consumer staples, energy, and real estate stayed flat with slight gains. Technology, telecommunications, and consumer discretionary showed the weakest performance of the day with losses of 1.33%, 0.99%, and 0.91% respectively.Trump's postponement of the implementation of the 50% EU customs tariff from June 1 to July 9 gave a signal of recovery in markets at the start of the week. U.S. stock markets were closed on Monday due to Memorial Day. On the first trading day of the week, futures saw recovery. U.S. and European futures indexes rose up to 1%, while Asian markets moved in a mixed and volatile pattern.Global investors' risk appetite is slightly positive as of this morning. The postponement of Trump’s tariff decisions was perceived positively, especially in the U.S. and Europe. In the upcoming period, trade policies and tariff decisions will continue to be decisive in markets.On the other hand, the Consumer Confidence Index announced by the Conference Board in the U.S. has been declining for five months. In April, the index fell to 86, the lowest level since May 2020. Consumers’ 12-month inflation expectation rose from 6.2% to 7%, reaching its highest level since November 2022. It is estimated that this index will rise to 87.1 in May.Most Valuable Companies and Stock PricesMicrosoft (MSFT) → $3.35 trillion market cap, share price $450.18, 1.03% dropNVIDIA (NVDA) → $3.2 trillion market cap, share price $131.29, 1.16% dropApple (AAPL) → $2.92 trillion market cap, share price $195.27, 3.02% dropAmazon (AMZN) → $2.13 trillion market cap, share price $200.99, 1.04% dropAlphabet (GOOG) → $2.05 trillion market cap, share price $169.59, 1.39% dropBorsa IstanbulImportant economic data will be announced domestically this week. On Tuesday, the economic confidence index, on Thursday the final version of April’s foreign trade data, and on Friday, April’s unemployment rate and Q1 2025 GDP growth data will be announced. Also on Friday, the CBRT will publish the year’s first Financial Stability Report.According to preliminary data from the Ministry of Trade, exports in April increased by 8.5% to $20.9 billion, while imports rose by 12.9% to $33 billion. As a result, April’s foreign trade deficit increased to $12 billion, marking a $2.1 billion increase compared to the same period last year. The 12-month cumulative trade deficit reached $86.6 billion, the highest level since June 2024.The growth data to be announced on Friday will be the most critical agenda item of the week for the markets. Our growth estimate for the first quarter is approximately 2% year-on-year and around 1.5% quarter-on-quarter. The CBRT’s updated output gap forecasts in the Inflation Report also indicate growth above potential, around 1.5% during this period.At Borsa Istanbul, the BIST-100 index fell to the 9,300 level yesterday, then moved within a horizontal band in line with expectations. Although there was volatility in stocks, no significant sectoral divergence was observed. Today, with U.S. and U.K. markets reopening after the holiday, an increase in foreign investor participation may be seen on Borsa Istanbul. The main index continues to show a sideways and tight pattern.Technically, the BIST-100 index pulled back to 9296 yesterday and closed at 9345 points. The 9331 level stands out as support in the short term. As long as it remains above this level, a sideways and tight movement is more likely than a significant drop. Closings above 9475 on the index may signal a new wave of optimism. Support levels are 9331, 9233, 9148, 9044, and 8984; resistance levels are 9475/9500, 9588, 9740/9760, 9895, and 9953.Most Valuable Companies on Borsa IstanbulQNB Finansbank (QNBTR) → ₺872.68 billion market cap, share price ₺258.75, ▼ 0.67%Aselsan (ASELS) → ₺621.53 billion market cap, share price ₺136.10, ▼ 0.15%Garanti Bank (GARAN) → ₺469.56 billion market cap, share price ₺111.20, ▼ 0.54%Turkish Airlines (THYAO) → ₺386.4 billion market cap, share price ₺277.00, ▼ 1.07%Koç Holding (KCHOL) → ₺372.78 billion market cap, share price ₺144.50, ▼ 1.70%Precious Metals and Exchange RatesGold: ₺4,164Silver: ₺41.29Platinum: ₺1,349Dollar: ₺38.97Euro: ₺44.32See you again tomorrow with the latest updates!
We present below today’s edition of “Daily Market with JrKripto”, in which we compile the most important developments from global and local markets. Let’s analyze the general market conditions together and take a look at the latest assessments.Bitcoin (BTC) is currently trading at $109,800. The long-term upward trend that started from the $75,930 level accelerated after the $101,059 and $104,000 resistances were broken, reaching $111,880 and setting a new all-time high (ATH) record. However, the pullback seen after this peak is considered a natural correction caused by profit-taking. At this stage, the $108,000 level stands out as the first important support. As long as this level holds, the upward movement may regain strength, targeting the $114,500 – $118,300 levels. If downward pressure increases, the $104,629 and $101,059 levels will be monitored as supports. In order to maintain the overall bullish trend in BTC, it is crucial that the price does not fall below $108,000.Ethereum (ETH), on the other hand, has pulled back to the $2,570 level. The uptrend that began at $1,486 gained momentum after breaking through the $2,453 and $2,595 resistances. The current correction after the recent rise can be interpreted as a technical breather. The $2,595 level still acts as the first important support. If this level is broken upward again, the $2,800 and $2,981 levels may be monitored as potential resistance targets. On the other hand, if the price falls below $2,595, the $2,453 and $2,095 support levels may come into focus again. It is important for the positive outlook in ETH to maintain price movement above $2,595.Crypto News– Japan plans to allocate ¥900 billion in government funds for an emergency aid package in response to U.S. tariffs.– PFVS has been added to the Binance Alpha project.– Florida has become the first U.S. state to promote removing capital gains tax on Bitcoin.– President Powell did not comment on the economy or policy outlook in his commencement address at Princeton.CryptocurrenciesTop Gainers:– ZBCN → up 33.1%, reaching $0.00502794– SAROS → up 19.7%, reaching $0.19175176– VIRTUAL → up 17.2%, reaching $2.24– GRASS → up 17.2%, reaching $2.44– JUP → up 17.0%, reaching $0.61145538Top Losers:– USDB → down 1.9%, to $0.98728466– CHEEMS → down 1.5%, to $0.00000162– JST → down 1.0%, to $0.03539383– SYRUP → down 0.9%, to $0.44254981– BORG → down 0.8%, to $0.21739263Fear Index:Bitcoin: 72Ethereum: 58Dominance:Bitcoin: 64.21% ▼ 0.01%Ethereum: 9.14% ▲ 0.10%Daily Total Net ETF InflowsBTC ETFs: $211.70 millionETH ETFs: $58.60 millionGlobal MarketsPresident Trump’s tax cut bill and trade policies are increasing uncertainties about the future of the U.S. economy, while the decision to impose a 50% tariff on goods imported from the European Union and additional tariff threats targeting Apple have brought global trade concerns back into focus. However, Trump announced that the implementation date for these measures has been postponed from June 1 to July 9, 2025.These developments created selling pressure in global stock markets at the end of the week, while demand for goldincreased due to safe haven appeal, and Brent oil prices rose amid supply concerns. As we begin the new week, Trump’s decision to delay the implementation helped improve risk appetite slightly and created a more positive mood in global markets.Meanwhile, U.S. stock markets are closed today for Anna Day, and UK markets are closed due to the spring holiday.Most Valuable Companies and Stock Prices– Microsoft (MSFT) → $3.35 trillion market cap, share price: $450.18, ▼ 1.03%– NVIDIA (NVDA) → $3.2 trillion market cap, share price: $131.29, ▼ 1.16%– Apple (AAPL) → $2.92 trillion market cap, share price: $195.27, ▼ 3.02%– Amazon (AMZN) → $2.13 trillion market cap, share price: $200.99, ▼ 1.04%– Alphabet (GOOG) → $2.05 trillion market cap, share price: $169.59, ▼ 1.39%Borsa IstanbulAccording to domestic data released by the Ministry of Culture and Tourism, the number of foreign tourists increased by 8% year-over-year in April. However, in the first four months of the year, the total number of foreign visitors dropped by 0.6% compared to the same period last year, totaling 10.6 million. By country:– Visitors from Germany increased by 31.3%– From the UK, by 13.3%– But arrivals from Russia and Bulgaria declined by 5.1% and 14.2%, respectivelyThis limited the overall growth rate.Looking at the real sector’s foreign currency position, non-financial firms’ net FX short position decreased by $0.6 billionin March to $153.9 billion. During this period:– FX assets rose by $8.2 billion– FX liabilities increased by $7.7 billion– Domestic loans rose by $3.3 billion– Foreign loans rose by $2.8 billion– Short-term net FX surplus increased by $4.7 billion to $12.4 billionAccording to the CBRT’s May inflation expectations report:– 12-month forward inflation expectations declined to 25.1% among market participants– 41.0% in the real sector– But rose to 59.9% among householdsAt the same time, the CBRT increased reserve requirements for foreign repo transactions and foreign loan users in Turkish lira:– For up to 1-month maturity: raised to 18%– For up to 3-month maturity: raised to 14% (previously 12%)On Friday, the BIST-100 index fell by 1.3%, giving up its weekly gains and dropped to the 240 level in dollar terms, among the lowest levels in the last two years. The newly announced Credit Guarantee Fund (KGF) package included only limited credit expansion, while the U.S. trade war statements added to global selling pressure.This week, local markets will focus on:– Wednesday: Economic confidence index– Thursday: Foreign trade data– Friday: Q1 GDP (national income) and CBRT Financial Stability ReportTechnically, the BIST-100 index tested 9,505 on the last trading day of the week, then pulled back and closed at 9,356. The failure to break above the 9,475/9,500 resistance, and the index staying above 9,331, currently points to more of a consolidation than a decline.– Nearby supports: 9,331, 9,233– Strong support: 9,148–9,044 band– For upside movement: a close above 9,475 could signal optimismImportant levels:– Supports: 9,331 / 9,233 / 9,148 / 9,044 / 8,984– Resistances: 9,475–9,500 / 9,588 / 9,740–9,760 / 9,895 / 9,953Top Market Cap Companies on Borsa Istanbul– QNB Finansbank (QNBTR) → ₺871.84 billion market cap, share price: ₺260.25, no change– Aselsan (ASELS) → ₺621.07 billion market cap, share price: ₺136.40, ▲ 0.15%– Garanti Bank (GARAN) → ₺465.36 billion market cap, share price: ₺110.20, ▼ 0.54%– Turkish Airlines (THYAO) → ₺386.06 billion market cap, share price: ₺281.00, ▲ 0.45%– Koç Holding (KCHOL) → ₺374.30 billion market cap, share price: ₺147.70, ▲ 0.07%Precious Metals and Exchange Rates– Gold: ₺4,155– Silver: ₺41.62– Platinum: ₺1,378– Dollar: ₺39.02– Euro: ₺44.17See you again tomorrow with the latest news!
Investment behavior in the United States is undergoing a fundamental transformation. Recent studies reveal that public interest in Bitcoin has surpassed that of gold. This shift affects not only individual investors but also national reserve policies. The growing acceptance of digital assets at both institutional and strategic levels is reinforcing the U.S.’s leadership in the crypto era. Bitcoin Is Becoming America's Reserve Asset Bitcoin Surpasses GoldAccording to a comprehensive survey conducted by The Nakamoto Project, 80% of Americans support converting a portion of the country’s gold reserves into Bitcoin. In this poll of 3,345 participants, the proposed median conversion rate was 10%, though some respondents supported rates as high as 20%. When broken down by age group, individuals aged 26–30 were the most supportive of the shift, followed by those under 26 and those aged 31–35. This indicates growing confidence and interest in digital assets among younger generations.The numbers back this up: approximately 50 million Americans own Bitcoin, compared to around 36–37 million who own gold. This data shows that Bitcoin has evolved beyond being merely an alternative investment—it has become a serious competitor to traditional stores of value.National Reserves and Institutional StrengthThe U.S. government has not remained indifferent to this societal shift. In 2025, President Donald Trump signed an executive order to establish a “Strategic Bitcoin Reserve,” which is planned to be backed by approximately 207,189 BTC. Additionally, a legislative proposal introduced by Senator Cynthia Lummis outlines a plan for the U.S. to acquire 1 million BTC over the next five years.On the institutional side, a similar trend is emerging. BlackRock’s iShares Bitcoin Trust (IBIT), with $33.2 billion in assets under management, has surpassed the iShares Gold Trust (IAU), strengthening the positioning of digital assets over gold. According to data from blockchain firm River, Americans hold 40% of the global Bitcoin supply, equating to a value of approximately $790 billion. Moreover, U.S.-based publicly traded companies account for 94.8% of corporate Bitcoin holdings.The Bitcoin Potential of U.S. Gold ReservesThe official U.S. gold reserve stands at 8,133 metric tons. However, this reserve is still valued based on the 1973 fixed price of $42 per ounce, which pegs the total value at just $11 billion. In contrast, using the current market price of $3,200 per ounce, the actual value exceeds $834 billion. The $820 billion gap between these two figures theoretically represents a massive potential for Bitcoin investment.Is Bitcoin the New Generation Reserve Asset?This intense interest in Bitcoin reflects not only a shift in individual investment preferences, but also the emergence of digital assets as components of national economic strategies. The growing confidence of both the American public and policymakers in Bitcoin suggests that digital assets will play a more central role in the global financial system in the years to come.Challenging the traditional gold standard, Bitcoin is steadily progressing toward becoming the reserve asset of the future—for both new-generation investors and institutional decision-makers.
In May 2025, spot Bitcoin and Ethereum exchange-traded funds (ETFs) in the U.S. experienced some of the largest institutional inflows in history. This development shows that digital assets are no longer just speculative instruments, but have become cornerstones of institutional portfolios. The size of the ETFs and the accelerating institutional interest appear poised to fundamentally reshape the role of Bitcoin and Ethereum in the global financial system.Record Figures in Spot Bitcoin ETFsIn the final week of May 2025, spot Bitcoin ETFs recorded $25 billion in weekly trading volume and $2.75 billion in net inflows. On May 22 alone, net inflows reached $934.8 million, marking the highest daily figure since January 2024.The largest share went to BlackRock’s IBIT fund, which set a new record with $877.2 million in daily inflows, pushing its assets under management to $68.7 billion. The fund currently holds 651,617 BTC, equivalent to 3.1% of total global supply.Since the spot ETFs were approved in January 2024, total net inflows have reached $44.6 billion. As of 2025, IBIT ranks among the top five ETFs in the U.S. by size.Quiet Climb in Ethereum ETFsDuring the same period, Ethereum ETFs also showed an upward trend. As of May 23, daily net inflows stood at $110.5 million, bringing the weekly total to $211.8 million.Fidelity’s FETH fund led with $42.2 million, while Grayscale’s ETHE fund contributed $43.7 million. Although BlackRock’s ETHA fund saw no inflows that week, it remains a significant institutional vehicle with $3.38 billion in assets under management.Gold vs. Bitcoin ETFs: The Race Heats UpIn the ETF market, traditional instruments and digital assets are now in direct competition. In Q1 2025, gold ETFsattracted $21.1 billion in net inflows, showing strong performance. During the same period, spot Bitcoin ETFs drew $3.6 billion in net inflows. This suggests that while investors still turn to gold as a “safe haven,” they are also increasingly acknowledging crypto’s rapid rise.According to data from Bitwise, Bitcoin ETFs brought in $36.2 billion in net inflows in 2024, outperforming the first-year performance of the GLD gold ETF by a factor of 20. Bitwise projects $120 billion in inflows by the end of 2025, and $300 billion by 2026.Governments and Corporations Are Accumulating BTCBeyond institutional investors, publicly traded companies and nation-states are also expanding their Bitcoin reserves. Public companies collectively hold 1,146,128 BTC (approx. $125 billion), which represents 5.8% of total supply.Governments hold a combined 529,705 BTC, led by the United States (207,189 BTC), China (194,000 BTC), and the United Kingdom (61,000 BTC).Bitwise estimates that by 2026, spot ETFs, sovereign reserves, and public companies will bring a total of $420 billion in capital into Bitcoin.Crypto Enters the Institutional EraAs of 2025, cryptocurrencies are no longer limited to individual investors; they are now firmly on the radar of institutional giants. Record inflows into spot Bitcoin and Ethereum ETFs reflect the legitimacy and growing adoptionof crypto assets.With Bitcoin approaching its all-time high of $112,000 and Ethereum rebounding 90%, investor confidence is clearly rising.With hundreds of billions of dollars in expected inflows by 2026, the crypto market is no longer just a tech trend—it now represents a permanent and transformative force in global finance.
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 $111,030. The long-term uptrend that began at $75,930 accelerated after surpassing the $101,059 and $104,000 resistance levels, with the price reaching a new all-time high (ATH) at $111,880 today. The limited pullback seen after this peak is considered a healthy profit-taking. If the upward move continues, the next resistance targets stand at $114,500 and $118,300. In potential downward corrections, $108,000 serves as the first strong support, followed by $104,629 and $101,059 as lower support levels. To maintain the positive outlook, staying above $108,000 is crucial.Ethereum (ETH) is currently trading sideways at $2,665. The strong upward trend from $1,486 gained momentum after breaking the $2,453 and $2,595 resistance levels. ETH continues to hold above $2,595, and as long as this level holds, the next resistance targets are $2,800 and $2,981. In case of downward movement, $2,595 will be the first support. If breached, $2,453 and $2,095 will come back into focus. Maintaining above $2,595 is key to preserving ETH’s upward momentum.Crypto NewsSEC approves Canary Staking TRX ETF application.CFTC’s Mersinger: Crypto perpetual futures may be tradable in the U.S.Kraken to offer over 50 tokenized stocks and ETFs, including Apple, Tesla, and NVIDIA.Strategy plans to sell $2.1 billion in preferred shares to fund Bitcoin purchases.Cetus protocol on $SUI exploited.FIFA partners with Avalanche (AVAX) to launch its own blockchain network.Binance to list World Liberty Financial USD (USD1).Top Gainers:MEW → up 27.6%, now at $0.00466798WLD → up 23.0%, now at $1.56DOG → up 21.0%, now at $0.00546503HYPE → up 18.2%, now at $36.83WHYPE → up 17.6%, now at $36.66Top Losers:KTA → down 13.8%, now at $0.73976103TRUMP → down 9.4%, now at $13.95DEEP → down 9.1%, now at $0.19136417FRAX → down 9.1%, now at $3.22WAL → down 8.5%, now at $0.58493299Fear & Greed Index:Bitcoin: 75Ethereum: 60Market Dominance:Bitcoin: 63.81% ▼ 0.31%Ethereum: 9.32% ▲ 0.49%Daily Total Net ETF Inflows:BTC ETFs: $934.80 millionETH ETFs: $110.50 millionGlobal MarketsU.S. stock markets started the day under selling pressure but ended flat thanks to bond market buying. The S&P 500 and Dow Jones indices moved sideways, while the Nasdaq rose 0.28%, with the "Magnificent Seven" tech stocks showing strong performance. Only 3 out of 11 sectors in the S&P 500 closed in the green.S&P Global's services and manufacturing PMI came in at 52.3, beating expectations. This strong performance was supported by potential delays in U.S. tariffs on China. However, existing home sales fell 0.5%, reflecting weakness in that area.Meanwhile, a tax cut bill passed the House of Representatives by a vote of 215 to 214, and now moves to the Senate. This development is shaping market expectations for future tax policies. Still, near-term budget deficit concerns are suppressing demand for bond auctions. As of this morning, U.S. futures are showing mild declines.The VIX volatility index fell 0.6 points to 20.3, indicating a relatively calm market.Weekly jobless claims in the U.S. dropped by 2,000 to 227,000 for the week ending May 17. However, the 4-week average rose by 1,000 to 231,500, signaling slight labor market cooling. Continuing claims rose by 36,000 to 1.9 millionfor the week ending May 10.In Asia, markets were mixed, while European indices opened positively. Today’s U.S. new home sales and building permits data will be closely watched.In Japan, core inflation (excluding fresh food) rose from 3.2% in March to 3.5% in April, pointing to continued price pressures.Most Valuable Companies & Stock PricesMicrosoft (MSFT) → $3.38T market cap, share price: $454.86, ▲ 0.51%NVIDIA (NVDA) → $3.24T market cap, share price: $132.83, ▲ 0.78%Apple (AAPL) → $3.01T market cap, share price: $201.36, ▼ 0.36%Amazon (AMZN) → $2.16T market cap, share price: $203.10, ▲ 0.98%Alphabet (GOOG) → $2.08T market cap, share price: $171.98, ▲ 1.13%Borsa Istanbul (BIST)Yesterday, Borsa Istanbul saw a ~2% intraday rebound, closing near 9,500, driven by expectations related to the Credit Guarantee Fund. There is evidence of foreign buying and inflows from major institutions. However, technical indicators show that momentum is still weak. A clear upward move would require the index to break above the 9,700–9,800 range. As long as this does not happen, a cautious tone may persist.In the short term, 9,530 points is a resistance level, while the 9,350–9,400 band is support. Below that, 9,000–9,100 is seen as the main support zone.Q1 earnings from companies were weak, and rising interest rates prompted downward revisions in target prices. However, these were not as severe as expected. The 12-month average target for BIST 100, previously around 14,400 points, has been revised to 13,800. This still suggests an upside potential of about 46%—but for this to materialize, new market catalysts are needed, such as:Falling interest ratesAccelerating economic growthReduction in domestic and global political/economic uncertaintyUntil these factors align, no meaningful short-term rally is expected.Today, the market will follow the CBRT’s weekly foreign investor flows report. While there was a $670 million inflow over the past four weeks, a significant outflow is expected for the May 12–16 week.Turkey’s 5-year CDS started the day at 298 basis points, indicating continued high risk perception.According to the CBRT’s second Inflation Report of the year, inflation forecasts remain:2025 year-end: 24%2026: 12%2027: 8%The upper and lower bounds of these forecasts remain unchanged (e.g., 19–29% for 2025), and the CBRT notes that upward and downward risks are currently balanced.Highest Market Cap Companies on Borsa Istanbul:QNB Finansbank (QNBTR) → 886.08B TL market cap, share price: 262.75 TL, ▼ 0.66%Aselsan (ASELS) → 624.72B TL market cap, share price: 136.10 TL, ▼ 0.66%Garanti Bank (GARAN) → 472.08B TL market cap, share price: 113.20 TL, ▲ 0.71%Turkish Airlines (THYAO) → 392.26B TL market cap, share price: 285.00 TL, ▲ 0.26%Koç Holding (KCHOL) → 382.41B TL market cap, share price: 151.20 TL, ▲ 0.27%Precious Metals and Exchange RatesGold: 4,155 TLSilver: 41.62 TLPlatinum: 1,378 TLUSD: 39.02 TLEUR: 44.17 TLSee you again tomorrow with the latest updates!
