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 Overview
Bitcoin has been on a downward correction for some time, falling to the $113,000 region. It's safe to say it found short-term support in this region, but in a downward breakout scenario from the $112,000-$113,000 area, the $111,800 level and then the $107,300 support level are potential price reversal levels. It's worth noting that the $117,300 area is the target target after the recovery.
On the Ethereum side, after a breathless rise to the $4,800 region, we see it's undergoing a natural pullback. The $4,050, $3,980, and $3,870 levels serve as sequential support levels. The $4,400 area will be the price's first target upon reversal.
Crypto News
- The U.S. Treasury Department has begun gathering public input on the GENIUS Act, which aims to detect illicit digital asset activity.
- Tether appointed former White House Crypto Council Executive Director Bo Hines as Strategic Advisor for Digital Assets and US Strategy.
- Robinhood US to list #SUI
- Trump: Europeans want to end the war with Ukraine and Russia.
- KindlyMD purchased $5,744 BTC to expand Nakamoto's Bitcoin treasury.
- SharpLink purchased 143,593 ETH at approximately $4,648, bringing its total holdings to 740,760 ETH.
- SEC Chairman Paul Atkins will discuss the 'Crypto Project' at the WYOMING Blockchain Symposium today.
- Fed member Bowman: Fed employees should be allowed to own small amounts of crypto assets.
Cryptocurrencies
Top Gainers
- M → Up 16.8% to $0.43772063
- CTC → Up 9.6% to $0.74369425
- GRASS → Up 8.9% to $0.78576644
- PUMP → Up 5.4% to $0.00300329
- HNT → Up 5.3% to $2.68
Top Losers
- SNEK → Down 13.3% to $0.00450101
- TRIBE → Down 9.9% to $0.59775806
- ZORA → Down 9.2% to $0.09269117
- REKT → Down 8.6% to $0.07659167
- ADA → Down 8.5% to $0.84855968.
Fear Index
- Bitcoin: 50 (Neutral)
- Ethereum: 49 (Neutral)
Dominance
- Bitcoin: 59.87% ▼ 0.36%
- Ethereum: 13.32% ▲ 1.28%
Total Daily Net ETF Inflows
- BTC ETFs: -$523.30 Million
- ETH ERFs: -$422.20 Million
Global Markets and Stocks of the Most Valuable Companies
Technology companies in the US have surged significantly in recent months, but warnings are now coming that these levels are risky. As expectations for a Fed interest rate cut weakened, tech stocks began selling off, and all US stock markets declined. Expectations that the Russia-Ukraine talks will be prolonged further exacerbated these declines. US, European, and Asian stock markets were generally negative this morning. While positive talks between Trump, Zelenskyy, and EU leaders yesterday supported European stock markets, the impact of the US sell-off is dampening global risk appetite. The Fed meeting minutes will be released today, and inflation data from the UK, Germany, and the Eurozone will be closely monitored.
- NVIDIA (NVDA) → $4.29 trillion market capitalization, $175.64 per share, fell 3.50%.
- Microsoft (MSFT) → $3.79 trillion market capitalization, $509.77 per share, fell 1.42%.
- Apple (AAPL) → $3.42 trillion market capitalization, $230.56 per share, fell 0.14%.
- Alphabet (GOOG) → $2.44 trillion market capitalization, $202.49 per share, fell 0.88%.
- Amazon.com (AMZN) → $2.43 trillion market capitalization, $228.01 per share, fell 1.50%.
Borsa Istanbul Updates and Most Valuable Companies
According to data released by TÜİK (Turkish Statistical Institute), the unemployment rate rose to 8.6% quarterly. The idle labor force reached a record high of 32%. While employment decreased in industry and agriculture, services and construction saw increases. Turkey's net foreign investment position was -$329.4 billion in June. The BIST-100 index closed positive for the third consecutive day with a limited increase, but failed to surpass the 11,000 level. Trading volume reached its highest level in recent years. Food retailers were negatively impacted, while automotive and iron/steel sectors stood out. The US decision to increase tariffs on iron/steel and aluminum is dampening global risk appetite. Markets are also awaiting the Fed Chair's announcements on Friday. The BIST is expected to remain tight.
- QNB Finansbank (QNBTR) → Market capitalization of 2.39 trillion TL, price per share of 714.50 TL, decreased by 9.96%.
- Aselsan Elektronik Sanayi (ASELS) → Market capitalization of 786.14 billion TL, price per share of 177.20 TL, increased by 2.78%.
- Türkiye Garanti Bankası (GARAN) → Market capitalization of 600.60 billion TL, price per share of 144.40 TL, increased by 0.98%.
- Turkish Airlines (THYAO) → Market capitalization of 467.13 billion TL, price per share of 338.50 TL, changed by 0.00%.
- Koç Holding (KCHOL) → Market capitalization of 454.69 billion TL, price per share of 179.70 TL, increased by 0.22%.
Precious Metals and Currency Prices
- Gold: 4,363 TL
- Silver: 48.93 TL
- Platinum: 1738 TL
- Dollar: 40.92 TL
- Euro: 47.63 TL
We look forward to bringing you the latest updates again tomorrow.
