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 and Ethereum Technical Outlook
Bitcoin continues its surge in volume. Having reached the $122,000 region, BTC will target a new ATH as long as it remains above the $117,300 support. After breaking through the $123,100 region, it is expected to reach the $127,000 area. In the event of a pullback, the $114,000 area will be closely monitored.
Ethereum, on the other hand, has broken its downward trend from 2021, which we mentioned in our previous newsletters. ETH's short-term potential has increased significantly following this breakout. The $4140 support and $4370 resistance levels are areas to be closely monitored.
Crypto News
- BitMine has filed for a $20 billion share sale to acquire more ETH.
- Traders increased their positions anticipating a Fed rate cut in September.
- SUI Network mistakenly published and then deleted a blog post. The post stated that a listing announcement was made on Robinhood. This likely indicates that a draft press release was published prematurely.
- Trump: Considering lawsuit against Powell over Fed building costs.
- SEC's Peirce: We're not waiting for legislation to work on crypto.
- Ethereum surpasses $4,500 for the first time since December 3, 2021!
- 21Shares filed a revised S-1 form for the Sui ETF.
- Kazakhstan-based Fonte Capital introduced Central Asia's first Bitcoin ETF.
Cryptocurrencies
Top Gainers:
- OKB → Up 174.6% to $126.64
- FARTCOIN → Up 24.9% to $1.07
- QUBIC → Up 20.6% to $0.00000278
- DEEP → Up 15.6% to $0.17445165
- GT → Up 14.9% to $18.80
Top Losers:
- PROVE → Down 15.3% to $1.43
- WEMIX → Down 7.8% to $0.79438738
- ZORA → Down 7.0% to $0.11173092
- ZBCN → Down 5.5% to $0.00488242
- B → Down 4.1% to $0.63282928
Fear Index:
- Bitcoin: 71 (Greed)
- Ethereum: 51 (Neutral)
Dominance:
- Bitcoin: 59.28% ▼ 0.69%
- Ethereum: 14.08% ▲ 1.78%
Total Daily Net ETF Inflows
- BTC ETFs: $65.90 Million
- ETH ETFs: $523.90 Million
Global Markets, the Most Valuable Companies, and Stock Prices
The US July CPI rose 0.2% month-over-month and remained unchanged at 2.7% year-over-year. The core CPI rose 0.3% month-over-month and 3.1% year-over-year. Housing prices rose, while energy prices fell 1.1%. The data's lack of expectations fueled expectations for a Fed interest rate cut. This led to buying in global stock markets. US and European futures are positive, with strong buying in Asia. Progress in trade talks and expectations for the Trump-Putin summit scheduled for Friday in Alaska are also supporting markets. The dollar index and US 2-year Treasury yields declined slightly, while the VIX index fell to its lowest level of the year at 14.73.
- NVIDIA (NVDA) → Market capitalization of $4.47 trillion, price per share of $183.16, increased by 0.60%.
- Microsoft (MSFT) → Market capitalization of $3.93 trillion, price per share of $529.24, increased by 1.43%.
- Apple (AAPL) → Market capitalization of $3.41 trillion, price per share of $229.65, increased by 1.09%.
- Alphabet (GOOG) → Market capitalization of $2.46 trillion, price per share of $204.16, increased by 1.25%.
- Amazon.com (AMZN) → Market capitalization of $2.36 trillion, price per share of $221.47, increased by 0.08%.
Borsa Istanbul Updates and Most Valuable Companies
The current account deficit reached $2.0 billion in June. The 12-month current account deficit increased to $18.9 billion. Energy and gold imports contributed to the increase. The Treasury borrowed a total of 136.1 billion TL in the last two days. The BIST 100 fell 0.8% yesterday, with Aselsan and Tüpraş leading the decline. THY and Destek Finans Factoring limited losses. The Trump-Putin meeting and positive global sentiment may keep the BIST 100 slightly bullish today.
- QNB Finansbank (QNBTR) → Market capitalization of $2.95 trillion, price per share of $793.50, decreased by 9.98%.
- Aselsan Electronics Industries (ASELS) → Market value of 784.32 billion TL, price per share of 173.60 TL, increased by 0.93%.
- Turkey Garanti Bank (GARAN) → Market value of 614.46 billion TL, price per share of 147.20 TL, increased by 0.62%.
- Koç Holding (KCHOL) → Market value of 455.95 billion TL, price per share of 178.90 TL, decreased by 0.50%.
- Turkish Airlines (THYAO) → Market value of 440.91 billion TL, price per share of 319.75 TL, increased by 0.08%.
Precious Metals and Currency Prices
- Gold: 4377 TL
- Silver: 50.33 TL
- Platinum: 1777 TL
- Dollar: 40.73 TL
- Euro: 47.59 TL
We look forward to bringing you the latest updates again tomorrow.
