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Grayscale Investments, one of the cryptocurrency markets' most established digital asset managers, has taken a significant step toward initiating its IPO process. The company announced on Monday, July 15th that it has filed a confidential registration statement with the U.S. Securities and Exchange Commission (SEC). This move joins Grayscale among crypto-focused companies seeking to list on U.S. exchanges.Grayscale files with the SECAccording to the company's statement, the number of shares to be registered as part of the IPO or the price range per share have not yet been finalized. These details will be determined after the SEC's due diligence process is complete and based on market conditions. Grayscale's IPO plan will be launched after receiving regulatory approval and when the market environment is favorable.The confidential filing is made possible by a special provision in U.S. capital markets legislation. This provision allows companies to conduct their pre-IPO processes without public disclosure. The same method has been used previously by Coinbase, Robinhood, and many other technology companies. Circle's success inspiresGrayscale's move signals a renewed IPO momentum in the crypto sector. Indeed, this development follows Circle's initial public offering (IPO) on the New York Stock Exchange (NYSE) last month. Circle, the company behind the USDC stablecoin, launched its shares on the stock exchange under the ticker symbol CRCL on June 5th and quickly saw its share price surge by over 500%.According to Yahoo Finance, Circle's IPO gave the company a valuation of approximately $6.9 billion. This highlighted the significant potential for crypto-focused startups in traditional financial markets.Opening the door to new financing avenuesGrayscale's IPO not only brings prestige but also could open the door to new sources of capital. Among the advantages of being a public company are financial strategies such as selling shares on the stock exchange, issuing convertible bonds, and greater access to institutional investors. For example, MicroStrategy founder Michael Saylor used this strategy to fund his company's Bitcoin acquisitions. Similarly, GameStop attracted attention with its $2.25 billion convertible bond sale in June.Grayscale's move, along with the IPO plans of other major crypto companies like Kraken and Gemini, signals the start of a new IPO season in the sector. After a period of stagnation following the IPO excitement of 2021, markets are reviving as we enter 2025. It's not surprising that crypto companies are turning to Wall Street, especially at a time when regulatory uncertainty is diminishing and investor interest is increasing.
According to a new report from CoinShares dated July 14, crypto asset investment products saw net inflows of $3.7 billion last week. This was the second-largest weekly inflow ever, and the total assets under management (AuM) for crypto assets broke a record, reaching $211 billion for the first time.Strong regional inflows led by the USThe majority of weekly inflows came from the US, with $3.7 billion. Canada and Switzerland contributed more modestly at $17.1 million, and $65.8 million, respectively. However, Germany was notable with an outflow of $85.7 million. Sweden also saw an outflow of $15.7 million. Bitcoin and Ethereum are favored by investorsBitcoin was the most popular crypto asset last week, with $2.7 billion in inflows. This brings Bitcoin's total assets under management to $179.5 billion. This amount corresponds to 54% of the total assets held in gold ETPs and demonstrates the growing interest of institutional investors in Bitcoin.Ethereum also remained on investors' radars. Recording positive flow for the 12th consecutive week, ETH achieved its fourth-highest weekly inflow in history with $990 million. Data from the last 12 weeks indicates that Ethereum received new inflows equal to 19.5% of its total AuM, while this rate remained at 9.8% for Bitcoin.Altcoins are mixed: Solana rises, XRP suffersThe altcoin picture is mixed. Solana was the leading altcoin attracting investor attention with a strong weekly inflow of $92.6 million, while XRP was the biggest loser of the week with a $104 million outflow. XRP's outflow was one of the most notable figures.The situation for other altcoins is as follows:Sui: Notable with a positive flow of $3.5 million. Litecoin and Cardano saw small inflows of $0.5 million and $0.9 million, respectively.Chainlink saw limited outflows of $0.5 million.Short Bitcoin: Interestingly, with inflows of $0.4 million, there was also limited demand for short positions.Multi-asset products experienced a weak inflow of $1.1 million.Other assets: Despite seeing inflows of $2.1 million, they still have over $500 million in outflows since the beginning of the year. iShares and Fidelity Lead Among Fund ProvidersBy provider, iShares ETFs led the way with inflows of $2.43 billion. They were followed by Fidelity Wise Origin Bitcoin F with $400 million and the ARK 21 Shares ETF with $339 million. Meanwhile, Grayscale Investments saw weekly inflows of $143 million, but stood out with outflows exceeding $1.5 billion since the beginning of the year. CoinShares XBT Provider, on the other hand, diverged negatively this week with an outflow of $16 million.
You can find today’s edition of “Daily Market with JrKripto” below, featuring a roundup of the most important developments from both global and local markets. Let’s analyze the broader market sentiment and latest insights together.As highlighted in previous articles, Bitcoin continues to demonstrate strong upward momentum, reaching new all-time highs. As we start the new week, another ATH has been confirmed. That said, the potential for further records and even higher levels remains significant.On the Ethereum side, the rally has outpaced that of Bitcoin. For instance, while BTC gains 10%, ETH can move by around 20%. The current resistance at $3,072 represents a strong selling zone. A breakout above this level could pave the way for a move toward $3,500. However, if the price faces rejection here, the $2,880 support level will be critical to watch closely.Crypto NewsWhite House Economic Advisor Hassett: Trump has the authority to fire Powell if there's a legitimate reason.Trump: The US will impose a 30% tax on the EU starting August 1.The Czech National Bank acquired Coinbase shares in the second quarter.Former Fed member Warsh said the Fed should cut interest rates immediately and that a change of Fed chair would be a good thing.CryptocurrenciesTop Gainers:M → Up 50.7% to $0.56798979MOG → Up 29.5% to $0.00000166ENA → Up 27.3% to $0.37180338SNEK → Up 27.1% to $0.00275231B → Up 24.4% to $0.46838309Top Losers:USELESS → Down 6.5% to $0.27971634ZBCN → Down 6.0% to $0.00344617TKX → Down 4.1% to $12.12VENOM → Down 0.7% to $0.22752356USDY → Down 0.5% to $1.09Fear Index:Bitcoin: 70 (Greed)Ethereum: 58 (Greed)Dominance:Bitcoin: 64.65% ▼ 0.03%Ethereum: 9.97% ▼ 0.21%Total Daily Net ETF Inflows:BTC ETFs: $1.03 BillionETH ETFs: $204.90 MillionGlobal MarketsWe begin the week amid rising tariff tensions between the U.S. and the EU. The U.S. has announced it will impose 30% tariffs on goods from the EU and Mexico starting August 1, prompting a retaliatory response from the EU; both developments weighing heavily on global markets. Adding to the uncertainty, the U.S. administration’s calls for Fed Chair Powell’s resignation and threats of dismissal have further increased market stress. This week, investors will closely monitor U.S. inflation data, U.S.–EU trade negotiations, and signals from the ongoing earnings season. The VIX volatility index, which remained subdued throughout most of last week, edged higher on Friday in response to the tariff news but still closed the week lower. This indicates that, for now, market risk perception remains relatively contained.Most Valuable Companies and Stock PricesNVIDIA (NVDA) → $4.02 trillion market capitalization, $164.92 per share, up 0.50%Microsoft (MSFT) → $3.74 trillion market capitalization, $503.32 per share, up 0.37%Apple (AAPL) → $3.15 trillion market capitalization, $211.16 per share, down 0.59%Amazon (AMZN) → $2.39 trillion market capitalization, $225.02 per share, up 1.24%Alphabet (GOOG) → $2.19 trillion market capitalization, $181.31 per share, up 1.46%Borsa IstanbulThe domestic current account deficit fell below expectations at $0.7 billion in May. The 12‑month cumulative deficit rose to $16 billion, while the current account surplus, excluding gold and energy, climbed to $49.5 billion. The data suggest that the deterioration observed in April was temporary and that the overall balance is on an improving path.The BIST‑100 index closed last week with a gain of nearly 1%, with bank and REIT stocks showing notable outperformance, while the telecom sector came under selling pressure. This week brings a packed data calendar. The market will be closed tomorrow due to a public holiday, and we anticipate a slightly weak opening to the week for the BIST.Companies with the Highest Market Value on Borsa IstanbulQNB Finansbank (QNBTR) → Market cap 975.69 billion TL, price 291.25 TL, up 2.92%Aselsan Elektronik Sanayi (ASELS) → Market cap 702.24 billion TL, price 154.00 TL, up 0.98%Türkiye Garanti Bankası (GARAN) → Market cap 597.24 billion TL, price 142.20 TL, up 0.21%Koç Holding A.Ş. (KCHOL) → Market cap 419.94 billion TL, price 165.60 TL, up 1.35%Türk Hava Yolları A.O. (THYAO) → Market cap 404.34 billion TL, price 293.00 TL, up 0.69%Precious Metals and Currency PricesGold: 4,344 TLSilver: 50.49 TLPlatinum: 1,814 TLDollar: 40.21 TLEuro: 46.89 TLWe look forward to bringing you the latest updates again tomorrow.
As crypto markets reach all-time highs, large-scale purchases of Ethereum and Bitcoin are attracting attention. Sharplink, a gaming company led by Ethereum co-founder Joseph Lubin, and Japan-based investment firm Metaplanet not only observed this rise but also reinforced their crypto strategies with significant acquisitions.Sharplink Makes Strategic Ethereum PurchaseSharplink Gaming, a company operating in the decentralized finance (DeFi) and gaming software space, added to its Ethereum treasury, purchasing approximately $49 million worth of ETH. According to Arkham Intelligence data, the company transferred 16,374 ETH to its wallet on Sunday afternoon. It was determined that these ETH were recently purchased from Galaxy Digital's over-the-counter (OTC) market. While Sharplink hasn't made an official statement, on-chain analytics platforms like EmberCN suggest the company has reached a total holding of approximately 270,000 ETH. This move comes on the heels of a purchase of 21,487 ETH, or $63.7 million, just days earlier.How did the Ethereum treasury strategy begin?Originally operating as a Minneapolis-based affiliate marketing and iGaming software company, Sharplink launched an Ethereum-centric treasury strategy at the end of May. This strategy was supported by a $425 million private equity sale led by Consensys, a company led by Ethereum co-founder Joseph Lubin. Lubin also serves as Sharplink's chairman of the board.The company positions ETH holdings not only as a financial instrument but also as a means of supporting the long-term strength and decentralization of the Ethereum ecosystem. CEO Rob Phythian clarified this in a statement, saying, "Ethereum is now Sharplink's core treasury asset."Last week, Lubin told CNBC that the company is "buying tens of millions of dollars of ETH every day," emphasizing the continued nature of this strategy. Share price on the riseSBET, the company's Nasdaq-listed stock, closed at $21.65 last week, a 17% increase following the announcement of a previous purchase of 10,000 ETH. This rise was also supported by the fact that ETH reached its highest levels since early February, approaching $2,981 in the market. However, the stock is still 74% below its all-time high of $82. In particular, the false news that Lubin and Consensys had sold shares on June 12 caused a significant collapse in SBET's value.Meanwhile, the Ethereum Foundation is facing investor backlash due to increased sales. Under the new treasury policy announced in June, the annual ETH sales rate was reduced from 15% to 5%. It was also stated that the sales would be conducted with greater transparency and in accordance with "DeFiPunk" principles. Metaplanet Expands Its Bitcoin StrategyWhile these developments are unfolding on the Ethereum front, Japanese investment giant Metaplanet made a major move on the Bitcoin front. The company purchased an additional 800 BTC for approximately $94 million, bringing its total Bitcoin holdings to over 16,000. This latest purchase was made at an average of $117,000 per BTC. The current value of its total BTC holdings is $1.64 billion, and the company's 2025 performance has already yielded a 435% return.Metaplanet, which added 7,400 BTC to its balance sheet in the last month alone, is positioning crypto as a strategic reserve asset, following in the footsteps of institutional players like MicroStrategy. These aggressive purchases reflect the heavy inflows into spot ETFs and institutional interest. In fact, in the last seven days alone, the inflow into spot Bitcoin ETFs has exceeded $2.7 billion. While Metaplanet shares haven't fully reacted to Bitcoin's meteoric rise yet, analysts say the share price has strong upside potential. Its decreasing mNAV (market capitalization/net asset value) makes it attractive to long-term investors.
A historic turning point is underway in the cryptocurrency markets. Bitcoin (BTC) surpassed $120,000 late Sunday night, reaching an all-time high. Increasing interest from institutional investors and regulatory changes to be addressed during "Crypto Week" in the US are among the key factors driving this surge.Bitcoin Reaches $123,000Bitcoin surged above $120,000 around 11:40 PM Sunday night, boosting the market. As of writing, it is trading at $123,036, a 3.32% increase. The daily inflow of more than $1 billion into Bitcoin ETFs is noteworthy. Currently, more than 6% of Bitcoin's market capitalization is held through ETFs. Furthermore, one of the most significant developments driving this surge is the CLARITY and GENIUS bills, which will be debated in the US Congress as part of "Crypto Week," which begins today. The CLARITY Act aims to clarify the jurisdiction of institutions such as the SEC and CFTC over crypto assets, while the GENIUS Act aims to establish the legal framework for dollar-denominated stablecoins. Furthermore, signals of a potential interest rate cut from the US Federal Reserve are among the other macro factors supporting the rise.Liquidations Break RecordBitcoin's rapid rise has also had a significant impact on futures markets. In the last 24 hours, $680 million worth of positions were liquidated in the crypto market. According to JrKripto data, $614 million of this came from short positions. The largest single liquidation was a $92.5 million BTC short position on the HTX exchange. This wave of liquidations wasn't limited to Bitcoin. Ethereum experienced a $68 million forced closure, XRP a $17 million closure, while altcoins such as XLM, PEPE, DOGE, and SUI also saw heavy trading volume. Bitcoin is now the world's fifth most valuable asset.Bitcoin's market capitalization has surpassed $2.4 trillion, surpassing Amazon, Google, and silver. Currently, only gold, NVIDIA, Microsoft, and Apple have a larger market capitalization than BTC. Vincent Liu of Kronos Research describes this rally as an "infrastructure-driven" rally, adding: "ETFs, policy momentum, and abundant liquidity combined to create this picture."According to Liu, BTC could test the $130,000 to $150,000 range by the end of the year. However, reaching these levels will depend on whether retail investors re-enter the market.Altcoins are also on the riseThe Bitcoin-fueled rally led Ethereum to rise above $3,000, while XRP rose 4.82 percent to $2.91, and Solana rose 3.21 percent to $165.9. According to market analysts, this rally is likely to strengthen further in the coming weeks if ETF inflows continue and crypto-friendly regulations come from the US.
You can find today’s edition of “Daily Market with JrKripto” below, featuring a roundup of the most important developments from both global and local markets. Let’s analyze the broader market sentiment and latest insights together.Bitcoin's all‑time high continues to climb, with the latest peak reaching $108,404 today. The likelihood of this level increasing further in the coming hours and days remains strong, supported by a surge in trading volume that we haven’t seen in quite some time. Overall, the prevailing sentiment around BTC appears firmly positive.Ethereum has also achieved its long‑anticipated $3,000 milestone. This upward movement signals that it’s not just Bitcoin, but the broader market, especially ETH, that is currently in a strong bullish phase.Crypto NewsTRUMP said the following in a post on TRUTH SOCIAL: "Stocks and cryptocurrencies have reached all‑time highs. This strength demonstrates the robustness of the economy. The Fed should swiftly lower interest rates to reflect this strength."Robinhood officially launched $ETH and $SOL staking in the US.Fed member Waller: Stablecoins will increase competition in payment systems.Fed member Daly: The economy is in good shape, with strong growth and employment. Inflation is falling. Monetary policy remains restrictive.Fed member Daly: I'm considering a rate cut in the fall.CryptocurrenciesTop Gainers:M → Up 50.7% to $0.56798979MOG → Up 29.5% to $0.00000166ENA → Up 27.3% to $0.37180338SNEK → Up 27.1% to $0.00275231B → Up 24.4% to $0.46838309Top Fallers:USELESS → Down 6.5% to $0.27971634ZBCN → Down 6.0% to $0.00344617TKX → Down 4.1% to $12.12VENOM → Down 0.7% to $0.22752356USDY → Down 0.5% to $1.09Fear Index:Bitcoin: 70 (Greed)Ethereum: 58 (Greed)Dominance:Bitcoin: 64.65% ▼ 0.03%Ethereum: 9.97% ▼ 0.21%Total Daily Net ETF InflowsBTC ETFs: $1.18 BETH ETFs: $383.10 MGlobal MarketsUS stock indices broke records ahead of the earnings season, driven by generally positive sentiment. The S&P 500 rose 0.27%, the Dow Jones Industrial Average rose 0.43%, and the Nasdaq rose 0.09%. Tariff‑related risks remained in the background in the markets, while investors focused on corporate balance sheets. The VIX volatility index fell 0.2 points to 15.8.In the US, unemployment benefits applications for the week ending July 5 fell short of expectations at 227,000. This data suggests a continued strong outlook in the labor market. However, ongoing applications reached their highest level since November 2021, indicating that companies are being cautious in hiring new employees.Most Valuable Companies and Stock PricesNVIDIA (NVDA) → $4 T market cap, $164.10 per share, up 0.75%Microsoft (MSFT) → $3.73 T market cap, $501.48 per share, down 0.40%Apple (AAPL) → $3.17 T market cap, $212.41 per share, up 0.60%Amazon (AMZN) → $2.36 T market cap, $222.26 per share, down 0.13%Alphabet (GOOG) → $2.16 T market cap, $178.70 per share, up 0.59%Borsa IstanbulDomestic industrial production for May increased by 3.1% month‑over‑month and 4.9% year‑over‑year. While capital goods were particularly prominent in this strong increase, there were also increases in sectors related to construction, as well as textiles and clothing. Balance of payments, retail sales, turnover, and foreign‑trade indices will be released today. The current‑account deficit is expected to reach around $1 billion in May.Borsa Istanbul continued its rise, fueled by positive expectations for President Erdoğan's statements this weekend. It is rumored that the announcement may include new steps in both domestic politics and relations with the US. With positive data in industrial production, the upward trend in the BIST is expected to continue today.Companies with the Highest Market Value on Borsa IstanbulQNB Finansbank (QNBTR) → Market cap 948.05 B TL, 283.00 TL per share, 0.00% changeAselsan Elektronik Sanayi (ASELS) → Market cap 695.4 B TL, 152.3 TL per share, down 0.13%Türkiye Garanti Bankası (GARAN) → Market cap 595.98 B TL, 143.5 TL per share, up 1.13%Koç Holding A.Ş. (KCHOL) → Market cap 414.37 B TL, 164.7 TL per share, up 0.80%Türk Hava Yolları A.O. (THYAO) → Market cap 401.58 B TL, 294.75 TL per share, up 1.29%Precious Metals and Currency PricesGold: 4,309 TLSilver: 48.42 TLPlatinum: 1,774 TLUS Dollar: 40.16 TLEuro: 46.97 TLWe look forward to bringing you the latest updates again tomorrow.
Bitcoin (BTC) surged 5% early Friday morning, surpassing $118,000 to reach an all-time high. Rising interest from institutional investors and strong inflows into spot Bitcoin ETFs are among the primary drivers of this Bitcoin record. In the last 24 hours, the price of Bitcoin has climbed to $118,254, while Ethereum (ETH) also rose 7% to $3,000. The $1.18 billion inflow into spot Bitcoin ETFs on Thursday, in particular, marked the second-highest daily inflow since the launch of these products.BTSE COO Jeff Mei stated that Bitcoin's new high could be the start of a major bull run. Vincent Liu, chief investment officer at Kronos Research, stated that a calmer macroeconomic environment and increasing institutional adoption are leading investors back into BTC. Liu also stated that the perception of Bitcoin as a "gold-like, long-term regulated asset" has reinforced institutional confidence.Presto Research analyst Min Jung also emphasized that expectations of a US interest rate cut and institutional investors' risk appetite are driving the increased demand for ETFs. Jung said, "We are observing more institutional investors, led by companies like Strategy, incorporating Bitcoin into their strategic asset allocations. The easier access provided by ETF approvals supports this expanding demand base."Many investors liquidated with the price increaseHowever, Bitcoin's rise wasn't limited to institutional inflows. A large wave of liquidations also occurred on the futures side. According to JrKripto's liquidation data, $1.26 billion worth of positions were liquidated in the last 24 hours, $1.11 billion of which came from short positions. This was the largest short liquidation so far in 2025. The largest liquidation occurred in a $88.5 million short position opened on the HTX exchange in the BTC-USDT pair. According to data, a total of 237,000 investors liquidated in this wave. Bybit led the way with $461 million in liquidations, followed by Binance and HTX. More than 92% of positions on Bybit were short. In leveraged trading, short positions are automatically closed when prices rise, which can create a domino effect that further accelerates the rise. Indeed, the recent price jump demonstrated the impact of this mechanism.Meanwhile, the US CPI data, due in mid-July, and expectations for an interest rate cut will be decisive for the market. According to analysts, the decline in macroeconomic uncertainty is increasing interest in crypto assets. Proposed legislation such as the GENIUS Act and the removal of restrictions on crypto broker taxes are seen as particularly positive for the market.
Move Technical Analysis$8 million MOVE has been unlocked today, which raises concerns as to whether it will have an effect on the price. This unlock was realized when the price was trading at a key support area. As a result, it is important to read the analysis below. MOVE signaled a strong price recovery to the level of $0.20 recently, yet this momentum could not carry on and the price was rejected from the resistance zone which intersected the downtrend. The price is again at the $0.1453 support and trying to hold at the lower boundary of the trend, and this zone previously worked as a strong support. However, the current price poses a risk of sell pressure as it is below MA50 and MA200 along with a death cross.The price may pull back to the support $0.1346 if this sell pressure goes on. This level is of great importance for the price. If broken downwards, the sell pressure is likely to increase, and then the price may go down to the levels $0.1200 and $0.1050 respectively. In terms of upward movements, $0.1560 would be the first resistance level the price will face. If broken upwards, the price may go up and test $0.1666 again. However, the price must close above $0.18 if the trend should change permanently.These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
Crypto mining company BIT Mining has made a radical shift in its operations, shifting its focus to the Solana (SOL) ecosystem. The New York Stock Exchange (NYSE)-listed company announced plans to gradually accumulate SOL by raising between $200 million and $300 million.BIT Mining to exchange all of its cryptocurrency to SolanaAccording to the company's press release, BIT Mining will convert all of its existing crypto assets to Solana and adopt a long-term holding strategy. It will also operate validator nodes on the Solana network, contributing to the network's decentralization and seeking to generate income from on-chain staking rewards.BIT Mining CEO Xianfeng Yang described this strategic move as "a bold entry into one of the most dynamic and promising ecosystems in the blockchain world." Yang stated in his statement: “We are embarking on this new path to adapt to the changing industry and generate lasting value. We believe that with our robust infrastructure and long-term vision, we will accelerate sustainable growth for our shareholders.”The company's current operations include custom hardware design and hosting services for Bitcoin, Litecoin, Dogecoin, and Ethereum Classic mining. BIT Mining, particularly notable for its 7nm Bitcoin mining chips, currently ranks 17th in market capitalization among publicly traded Bitcoin mining companies. Following the news, the company's share price (BTCM) gained over 250 percent in pre-market trading on Thursday. This move makes BIT Mining one of the latest companies to join the institutional crypto treasury race. This strategy, pioneered by MicroStrategy, involves companies including digital assets such as BTC, ETH, SOL, XRP, and BNB on their balance sheets. BIT Mining's choice of Solana distinguishes it from companies like Bit Digital and BitMine, which are making Ethereum-focused moves. Meanwhile, two other mining companies with the "Bit" prefix have shifted their focus to crypto treasury strategies in recent weeks. Nasdaq-listed Bit Digital has completely transitioned away from Bitcoin mining and begun accumulating ETH. The company recently raised $173 million in capital, bringing its Ethereum reserves to over 100,000. BitMine, meanwhile, set out to increase its ETH holdings 16-fold with a $250 million private placement. Fundstrat co-founder Tom Lee was among the investors, and Lee was also appointed chairman of BitMine's board of directors.BIT Mining's history is also noteworthy. In 2021, the company operated as 500.com, a China-based sports lottery service provider. At the time, the company was in the spotlight due to allegations of bribery against Japanese government officials. In April 2021, the company shifted its focus to crypto mining and changed its name. BIT Mining reached an agreement with the US Department of Justice and the SEC, agreeing to pay a total of $10 million in fines.
You can find today’s edition of “Daily Market with JrKripto” below, featuring a roundup of the most important developments from both global and local markets. Let’s analyze the broader market sentiment and latest insights together.We can say that Bitcoin crowned its ongoing volume trend with a new all-time high. After breaking out of the previous trend, BTC decisively surpassed key resistance levels and reached a record high of $111,999, followed by a natural pullback. This movement successfully met the previously highlighted $111,800 target. Going forward, as long as Bitcoin holds above the $109,600 level, the positive sentiment is likely to persist. The next target lies in the $114,000 region.Following Bitcoin’s lead, Ethereum continues to push through major resistance levels. Holding above $2,700 would support this bullish outlook. If the $2,880 resistance is broken, the $3,000 zone will be the next target.Crypto NewsTrump announces 50% tariffs on BrazilCoinbase to list SKY and USDSThe SEC postponed in-kind refunds for the BlackRock Spot Ethereum ETFThe SEC approved in-kind redemptions for the Bitwise Bitcoin ETF Trust and Bitwise Ethereum ETFCircle enters into a USDC revenue-sharing agreement with ByBit, the second-largest crypto exchangeNvidia plans to launch a new AI chip specifically designed for China in SeptemberTrump: “Lower the interest rate.”Ripple will hold its $500 million reserve of $RLUSD crypto stablecoin with BNY MellonNvidia becomes the first company to reach a $4 trillion market capitalizationTrade Advisor Navarro: The Fed needs to lower interest rates in JulyCryptocurrenciesTop Gainers:M → Up 69.5% to $0.35883003PENGU → Up 23.9% to $0.01821681BANANAS31 → Up 22.5% to $0.02508994ZBCN → Up 20.8% to $0.00359288USELESS → Up 17.2% to $0.30264032Top Losers:TKX → Down 10.1% to $12.70VENOM → Down 2.1% to $0.22408004GRASS → Down 1.6% to $1.15MX → Down 1.3% to $2.41LEO → Down 1.2% to $8.99Fear Index:Bitcoin: 68 (Greed)Ethereum: 56 (Greed)Dominance:Bitcoin: 64.77% ▲ 0.02%Ethereum: 9.77% ▼ 0.09%Total Daily Net ETF Inflows:BTC ETFs: $215.70 MillionETH ETFs: $211.30 MillionGlobal MarketsWhile the Fed minutes reveal ongoing disagreements among members regarding interest rate cuts and inflation, U.S. President Trump has intensified his calls for a rate cut, this time proposing a reduction of up to 300 basis points.The tariff agenda has also regained momentum. After sending letters to 14 countries earlier this week, the U.S. extended similar communications yesterday to the Philippines, Brunei, Moldova, Algeria, Iraq, Libya, and Sri Lanka.Despite these developments, market reactions to the tariff announcements continue to fade. The VIX index fell by 0.9 points yesterday to 15.9, signaling a sustained recovery in risk appetite.In the Fed minutes, members expressed differing views on whether the inflationary effects of tariffs would be transitory or persistent. They emphasized that overall growth and employment remain strong, that monetary policy is currently sufficiently tight, and that further action will depend on more conclusive data.Most Valuable Companies and Stock PricesNVIDIA (NVDA) → $3.97 trillion market capitalization, $162.88 per share, up 1.80%Microsoft (MSFT) → $3.74 trillion market capitalization, $503.51 per share, up 1.39%Apple (AAPL) → $3.15 trillion market capitalization, $211.14 per share, up 0.54%Amazon (AMZN) → $2.36 trillion market capitalization, $222.54 per share, up 1.45%Alphabet (GOOG) → $2.15 trillion market capitalization, $177.66 per share, up 1.43%Borsa IstanbulDomestically, May industrial production data is set to be released today. In April, production declined by 3.1% month-on-month but posted a 12.5% year-on-year increase. Preliminary indicators suggest that the weak production trend persisted into May.Following a two-day decline, the BIST-100 index rebounded above the 10,000 mark yesterday, supported by buying interest in banking, holding companies, Tüpraş, and Turkish Airlines shares. This upward move was fueled by expectations of a rate cut at the Monetary Policy Committee (MPC) meeting scheduled for July 24th, alongside a generally optimistic tone in domestic markets.Treasury and Finance Minister Şimşek, who met with investors in London yesterday, remarked that reserves have strengthened and the risk of volatility in the Turkish Lira has diminished. In addition to industrial production data, markets will also closely watch President Erdoğan’s statements on Saturday. The upward momentum in the BIST is expected to continue today.Companies with the Highest Market Value on Borsa IstanbulQNB Finansbank (QNBTR) → 914.55 billion TL market capitalization, 281.00 TL per share, 2.93% increaseAselsan Elektronik Sanayi (ASELS) → 694.03 billion TL market capitalization, 149.7 TL per share, down 1.64%Türkiye Garanti Bankası (GARAN) → 576.66 billion TL market capitalization, 139.6 TL per share, 1.68% increaseKoç Holding A.Ş. (KCHOL) → 392.81 billion TL market capitalization, 160.3 TL per share, 3.49% increaseTürk Hava Yolları A.O. (THYAO) → Market capitalization: 387.09 billion TL, price per share: 286.75 TL, increased by 2.23%Precious Metals and Currency PricesGold: 4,278 TLSilver: 46.93 TLPlatinum: 1,744 TLDollar: 40.01 TLEuro: 47.05 TLWe look forward to bringing you the latest updates again tomorrow.
Bitcoin (BTC) surged following former US President Donald Trump's striking statements on interest rates. In a July 9th post, Trump stated that the Fed's current interest rates were "at least 300 basis points (bps) too high," arguing that delaying the rate cut would impose an additional $360 billion annual burden on the US economy. Just 30 minutes after this statement, the price of Bitcoin began to rise, quickly reaching $109,343. It then reached a record high of $112,000 on some exchanges. However, according to many platforms, it remained about $50 below the record high of $111,925.Trump's post created a ripple effect on the marketTrump's post on Truth Social created a ripple effect on the market. According to analysts, such an interest rate cut could lead to significant jumps not only in alternative assets like Bitcoin, but also in gold, stocks, and real estate prices. Macro analysis platform The Kobeissi Letter examined Trump's calculations in a detailed X (formerly Twitter) thread on the subject. Analysts noted that total US interest payments have reached $1.2 trillion over the last 12 months, emphasizing that this sharp interest rate cut could save approximately $174 billion in the short term, but its long-term consequences could pose risks to economic stability.According to Kobeissi, such an aggressive interest rate cut could cause a depreciation of over 10% in the US dollar, inflation exceeding 5%, and housing prices rising by up to 25%. However, in the short term, effects such as gold reaching $5,000, the S&P 500 index reaching 7,000 points, and oil exceeding $80 are also expected.Bitcoin surpasses $111,000; is a new record on the horizon?The technical momentum following Trump's statements caused the Bitcoin price to rise to $111,266 by the end of the day. While Bitcoin briefly broke records on exchanges like Binance, Coinbase, and Bitstamp, data providers like CoinGecko and CoinMarketCap indicate that the $112,000 peak, broken on May 22, has yet to be surpassed. Ethereum (ETH) also benefited from this upward trend. ETH gained 6% in the last 24 hours, reaching $2,795, its highest level in a month. Meanwhile, according to CoinGlass data, a total of $425 million in short positions were liquidated, highlighting the unexpected and powerful nature of the rally.Shares of publicly traded companies linked to Bitcoin also rose. MicroStrategy (MSTR) rose 4.4% to $414. Coinbase (COIN) shares saw a 5% increase, while Bitcoin mining companies MARA and Riot saw a nearly 6% increase.
Emirates, one of the world's leading airlines, is preparing to take a strong step into the world of cryptocurrencies. The company announced that it will offer its customers the opportunity to pay for flights and services with cryptocurrencies as of 2025. This important development was made official with the Memorandum of Understanding (MoU) signed between Emirates and global crypto platform Crypto.com on July 9.Emirates will start accepting cryptocurrency paymentsAs part of the agreement, it is planned to integrate Crypto.com Pay, Crypto.com's payment solution, into Emirates' global payment infrastructure. In this way, millions of Emirates customers will be able to carry out many transactions, from flight tickets to additional services, with Bitcoin, Ethereum and other cryptocurrencies. Adnan Kazim, Emirates' Vice President of Commercial Operations, stated that this step is a strategic decision to both modernize the customer experience and catch up with innovations in digital finance. Kazim said, “This strategic move reflects our goal of offering our customers more flexibility and payment options, in line with Dubai's vision of being a pioneer in financial innovation.”Dubai has been on its way to becoming the “crypto capital of the world” with the steps it has taken in the field of crypto and blockchain in recent years. This vision, supported by both legal regulations and private sector collaborations, has also been reinforced with the Emirates-Crypto.com partnership. Although no details were given on the subject, according to the statements made, this partnership will not only diversify payment options; it will also encourage the adoption of cryptocurrencies with extensive marketing campaigns.Crypto.com President and COO Eric Anziani emphasized in his statement that this MoU signed with Emirates is an important milestone for daily crypto usage. “Working with a globally influential partner like Emirates will give great momentum to the cryptocurrency sector. Thanks to this integration, both Crypto.com and Emirates will be able to offer truly innovative financial solutions to their customers,” he said.Emirates, which currently serves 148 airports in 80 countries, is preparing to become one of the pioneers in the travel and aviation sector that accepts cryptocurrency payments with this move. Crypto integration, which we have previously seen in sectors such as real estate and telecommunications, is now spreading to traditional sectors such as airline transportation.
You can find today’s edition of “Daily Market with JrKripto” below, featuring a roundup of the most important developments from both global and local markets. Let’s analyze the broader market sentiment and latest insights together.Bitcoin, which has maintained its volatility since last week, continued its upward trend over the weekend, closing on Sunday, expected to be stable, at $109,200. The $108,900 resistance level is a key threshold at this point. As long as the price remains above this level, it will aim to break above the $110,600 high. However, as seen yesterday, it failed to hold above the $108,900 resistance level and retreated to the $107,300 support level. For now, we can say it has found support in this region. A loss of this support could push the price to the $106,300 support level and then to the $104,900 support level. In an upside scenario, if the $111,920 high is broken, the first targets after the new ATH will be $114,000 and $120,000.Ethereum, following Bitcoin's lead, finished last week with a surge in volume. Looking at ETH from a broader perspective, we observe that it continues to trade within a range. The $2,465 level plays a key role in this. After last week's significant surge, the price holding above this level is a positive sign. It is also trading in a critical area in the short term. The $2,595–$2,550 area represents a broad resistance area. We have reached the $2,600 target we outlined in previous newsletters. However, if this level is breached, the price could rise to the $2,700 region.Crypto NewsTrump: Lower interest rates, Jerome, now is the time!The US House of Representatives announced that it is "taking historic steps to ensure the United States remains the crypto capital."Truth Social filed an S-1 for its Crypto Blue Chip ETF.Robinhood has begun discussions with regulators regarding tokenized stocks.CryptocurrenciesTop Gainers:BANANAS31 → Up 31.2% to $0.02028966MOG → Up 17.0% to $0.00000113ZBCN → Up 16.9% to $0.00299969CRO → Up 15.1% to $0.09309514SPX → Up 13.4% to $1.41Top Losers:TKX → Down 11.6% to $13.95BONK → Down 7.1% to $0.00002186IP → Down 3.3% to $3.01SYRUP → Down 2.1% to $0.50968788FARTCOIN → Down 2.0% to $1.06Fear Index:Bitcoin: 67 (Greed)Ethereum: 59 (Greed)Dominance:Bitcoin: 65.01% ▼ 0.09%Ethereum: 9.46% ▼ 0.24%Total Daily Net ETF InflowsBTC ETFs: $75.30 MillionETH ETFs: $29.50 MillionGlobal MarketsGlobal risk appetite is balanced. Markets remain directionless due to conflicting statements from the US. While there is talk that the tariff period, which was extended from July 9 to August 1, may be relaxed again, President Trump's statement that there will be no extension has dampened morale. However, it is thought that this process is still subject to negotiation and new exemptions may be introduced. US futures are trading sideways this morning. With the tariff extension extended, markets focused on negotiations. The VIX index fell 1 point to 16.8, indicating a recovery in risk appetite. Meanwhile, according to a New York Fed survey, short-term inflation expectations in the US fell to 3%. 3- and 5-year expectations remained stable.Today, MBA mortgage applications and Fed minutes will be watched in the US, while CPI data will be watched in Mexico and Russia.Most Valuable Companies and Stock PricesNVIDIA (NVDA) → $3.90 trillion market capitalization, $160.00 per share, up 1.11%Microsoft (MSFT) → $3.69 trillion market capitalization, $496.62 per share, down 0.22%Apple (AAPL) → $3.14 trillion market capitalization, $210.01 per share, up 0.03%Amazon (AMZN) → $2.33 trillion market capitalization, $219.36 per share, down 1.84%,Alphabet (GOOG) → $2.12 trillion market capitalization, $175.16 per share, down 1.35%Borsa IstanbulDomestically, the Treasury raised a total of 48.3 billion TL through 7- and 9-year bond auctions. A 7-year variable-rate bond with a 22% periodic interest rate drew bids totaling 32.8 billion TL, while a 9-year fixed-coupon bond with a 31.55% compound interest rate resulted in 9.84 billion TL in sales.According to a decision published in the Official Gazette, the withholding tax rate was increased to 17.5% for deposits with maturities up to six months, and to 15% for those up to one year. These changes are expected to create short-term volatility in Turkish Lira assets.As selling pressure persisted in the markets, the benchmark bond yield climbed to 40%, while the 5-year CDS spread rose to 290 basis points. Despite the resilience shown by banks, the BIST-100 index closed the day below the 10,000 mark with a loss of over 1%.Second-quarter bank earnings showed a decline in net interest margin, while commission income rose and provisioning expenses remained contained. Overall profitability stayed in line with the previous quarter. With no major data releases scheduled for today, we expect the BIST to stabilize around the 10,000 level.Companies with the Highest Market Value on Borsa IstanbulQNB Finansbank (QNBTR) → Market capitalization of 894.45 billion TL, price per share of 273.00 TL, increased by 2.25%Aselsan Elektronik Sanayi (ASELS) → Market capitalization of 689.93 billion TL, price per share of 152.2 TL, increased by 0.59%Türkiye Garanti Bankası (GARAN) → Market capitalization of 572.88 billion TL, price per share of 137.3 TL, increased by 0.66%Koç Holding A.Ş. (KCHOL) → Market capitalization of 397.38 billion TL, price per share of 154.9 TL, decreased by 1.15%Türk Hava Yolları A.O. (THYAO) → Market capitalization: 396.75 billion TL, price per share: 280.50 TL, decline: 2.43%Precious Metals and Currency PricesGold: 4,236 TLSilver: 47.09 TLPlatinum: 1,741 TLDollar: 40.04 TLEuro: 46.94 TLWe look forward to bringing you the latest updates again tomorrow.
Various companies continue to contribute to the cryptocurrency investment trend of 2025. In particular, companies such as KULR Technology Group, Upexi and SharpLink Gaming have begun to adopt leading cryptocurrencies such as Bitcoin, Solana and Ethereum as strategic investment tools in corporate treasury management. Here are the latest moves by these companies...KULR Technology takes a new step with Bitcoin-based loanKULR Technology Group, which offers thermal management solutions and develops security-focused systems especially for lithium-ion batteries, announced that it has provided a $20 million loan facility through Coinbase Credit. This loan will be used to support the company's Bitcoin accumulation strategy and a portion of its existing BTC assets will be shown as collateral.KULR CEO Michael Mo stated that this agreement provides an undiluted capital source for the company and that they have taken an important step towards diversifying their financial resources in order to achieve their long-term growth goals. KULR currently owns 920 BTC and purchased these assets at an average of $98,760. This means that the BTCs acquired at a total cost of approximately $91 million have reached approximately $100 million at current prices, providing a paper profit of approximately $9 million.Upexi, focused on Solana, expands its treasury strategyUpexi, which has placed Solana at the center of its corporate treasury, increased the amount of SOL it holds to 735,692 as of the end of June. This means an increase of 8.2% compared to the previous month. Considering that the SOL price is around $151, Upexi's SOL assets are worth approximately $111 million.Upexi CEO Allan Marshall stated that the company acquired options traded on Nasdaq in June, announced its intention to tokenize its stocks, and joined Webull's Corporate Connect platform. It also announced that they earned an 8% return on their existing SOL assets.SharpLink Gaming's Ethereum moveSports betting company SharpLink Gaming, on the other hand, draws attention with its Ethereum-focused strategy. The company has purchased 7,689 ETH between June 28 and July 4, bringing its total Ethereum holdings to 205,634 ETH. The total value of these ETHs exceeds $533 million. The company has directed all of its ETH assets to staking and retaking transactions, and has thus far won 322 ETH rewards worth approximately $848,000. In addition, SharpLink recently sold 5.4 million shares, generating $64 million in revenue, and announced that it will use most of this revenue for Ethereum purchases. In other words, the company has adopted a treasury strategy based entirely on Ethereum.The Bitcoin accumulation strategy led by MicroStrategy is no longer limited to just BTC. While the number of companies turning to alternative blockchain networks such as Ethereum and Solana is increasing, we see that institutional investors are becoming more familiar with different coins with this trend.
Trump Media & Technology Group’s social media platform Truth Social has taken another big step into the cryptocurrency market. The company has filed a formal application with the U.S. Securities and Exchange Commission (SEC) for a new exchange-traded fund (ETF) called the “Crypto Blue Chip ETF.” The ETF is planned to consist of five major crypto assets: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cronos (CRO), and Ripple (XRP). Truth Social has filed an ETF applicationAccording to the preliminary prospectus submitted by Truth Social, the fund’s asset allocation will be as follows: 70% BTC, 15% ETH, 8% SOL, 5% CRO, and 2% XRP. This allocation aims to offer significant exposure not only to Bitcoin but also to other major altcoins, unlike traditional crypto investment funds. The fund’s digital asset custody operations will be handled by Foris DAX Trust Company, which is affiliated with Crypto.com.This application is not Truth Social's first move in the crypto ETF space. As you may recall, the company also applied for a spot ETF focused solely on Bitcoin in June. Then came a second application for a Bitcoin-Ethereum combined ETF that also included Ethereum. The sponsor of all these products is digital asset management firm Yorkville America Digital. The ETF shares are planned to be traded on the NYSE Arca exchange.Truth Social's ETF application reveals not only the company's strategic vision, but also the Trump administration's positive approach to crypto assets. In fact, the SEC is expected to have a crypto-friendly attitude compared to the previous Biden administration in the current period. For this reason, it is thought that Truth Social's applications may be concluded more quickly and positively.ETF applications for many altcoins await approvalIn addition, Truth Social's ETF initiative is not alone. Major asset managers such as Bitwise, Grayscale, Franklin Templeton and REX Shares have also filed applications with the SEC for ETF products based on various crypto assets such as XRP, Solana, Dogecoin, Cardano, Avalanche, Hedera, Litecoin and Polkadot. The crypto assets chosen by Truth Social are noteworthy. The inclusion of Bitcoin and Ethereum as market leaders was an expected move. While Solana stands out with its speed and low transaction costs, Cronos stands out as part of Crypto.com's decentralized ecosystem. The inclusion of XRP is considered a very ambitious choice despite the long-standing litigation between the SEC and Ripple. In light of these developments, all eyes have turned to the SEC again. Whether Truth Social's "Crypto Blue Chip ETF" application will be accepted and how it will respond to other multi-asset ETF projects is eagerly awaited.
