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
After spending last week declining, Bitcoin started the new week with a reactionary rise. Having fallen to $111,920, BTC is currently trading around $116,500. Support is at $113,500 in the lower range. The short-term target for the upper range is $118,200.
The target we mentioned in previous newsletters for Ethereum was also reached on the same day. The market structure remains positive. ETH, which rose to $3,950, will target the $4,150 region as long as it stays above $3,700.
Crypto News
- Trump: The Fed chair's decision will be announced by the end of the week. We have several candidates. The candidates are currently down to four.
- Japan's largest bank has applied for Bitcoin and XRP ETFs.
- Kashkari: Two interest rate cuts this year seem appropriate.
- The CBOE is proposing amending the VanEck Ethereum ETF to allow ether staking.
- China will allow the launch of its first stablecoin. -Financial Times
- The US will impose a 15% tariff on goods imported from Japan.
Cryptocurrencies
Top Gainers:
- BEAM → Up 14.1% to $0.00772947
- FLUID → Up 10.0% to $6.02
- CHEEMS → Up 9.5% to $0.00000124
- TOSHI → Up 9.5% to $0.00064634
- DEXE → Up 9.3% to $8.38
Top Losers:
- M → Down 5.2% to $0.49628287
- PUMP → Down 4.5% to $0.00325032
- XMR → Down 3.2% to $283.25
- TKX → Down 3.0% to $5.03
- BTSE → Down 2.1% to $1.58
Fear Index:
- Bitcoin: 59 (Greed)
- Ethereum: 50 (Neutral)
Dominance:
- Bitcoin: 61.64% ▼ 0.07%
- Ethereum: 11.97% ▼ 0.08%
Total Daily Net ETF Inflows
- BTC ETFs: $91.60 Million
- ETH ETFs: $35.10 Million
Global Markets, Most Valuable Companies, and Stock Prices
Global markets are trading positively this morning. US and European futures, as well as Asian stock markets, are trading positively. This optimism stems from the Fed's interest rate cut being brought forward, Apple's $100 billion investment plan, and progress in US trade talks. Pressure on Russia and India and geopolitical risks are currently in the background. The VIX index fell 1.1 points to 16.77. This suggests that Fed expectations have reduced volatility in pricing. German industrial production and US weekly unemployment claims will be closely watched today.
- NVIDIA (NVDA) → $4.38 trillion market capitalization, $179.42 per share, rose 0.65%.
- Microsoft (MSFT) → $3.90 trillion market capitalization, $524.94 per share, fell 0.53%.
- Apple (AAPL) → $3.16 trillion market capitalization, $213.25 per share, rose 5.09%.
- Alphabet (GOOG) → $2.38 trillion market capitalization, $196.92 per share, rose 0.82%.
- Amazon.com (AMZN) → $2.37 trillion market capitalization, $222.31 per share, increased by 4.00%.
Borsa Istanbul Updates and Most Valuable Companies
The BIST100 continues its slight upward trend driven by stock-based movements. Yesterday, the index closed at its highest level in a year in Turkish Lira terms, 2.5% shy of its all-time high. In US dollars, it is still 20% below its peak. The market is expected to continue to move based on stock-based movements for some time, depending on balance sheets. MSCI will announce the index changes tonight, effective August 27th. Potential share exits could cause volatility in share prices.
- QNB Finansbank (QNBTR) → $2.47 trillion market capitalization, $809.5 per share, increased by 9.99%.
- Aselsan Electronics Industries (ASELS) → Market value of 828.1 billion TL, price per share of 181.9 TL, increased by 0.17%.
- Türkiye Garanti Bankası (GARAN) → Market value of 628.32 billion TL, price per share of 150.3 TL, increased by 0.47%.
- Koç Holding A.Ş. (KCHOL) → Market value of 462.55 billion TL, price per share of 184.0 TL, increased by 0.88%.
- Turkish Airlines Inc. (THYAO) → Market value of 425.73 billion TL, price per share of 310.25 TL, increased by 0.57%.
Precious Metals and Currency Prices
- Gold: 4416 TL
- Silver: 49.53 TL
- Platinum: 1743 TL
- Dollar: 40.67 TL
- Euro: 47.13 TL
We look forward to bringing you the latest updates again tomorrow.
