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 managed to stay strong despite a challenging week in terms of data and developments. BTC, which is firmly priced above $100,000, has once again reached the resistance zone of $106,600–$107,200. In addition to this horizontal resistance, a trendline resistance is also in play. A breakout above this zone could pave the way for a new all-time high (ATH), with $110,000 and then $114,000 as potential targets. On the downside, the $104,900 support level awaits us. If this support level is broken, the $102,100 and $100,900 support levels emerge as critical resistances.
On the Ethereum front, the rising channel pattern we mentioned previously continues to hold. ETH, which is rebounding from the trend support, is experiencing a significant rise as we head into the weekend. The horizontal and channel support, which is around $2,500 on average, continues to hold strong. The next target will be the $2,620 level.
Crypto News
• An Ohio bill exempting Bitcoin payments under $200 from taxes has passed the House of Representatives.• Fetch Foundation will carry out a $50 million $FET token buyback.• Central Bank of the Republic of Türkiye (CBRT) kept interest rates unchanged.• X CEO Yaccarino: Users will soon be able to invest or trade on the social media platform.• Semler Scientific has announced its three-year plan and intends to purchase 105,000 Bitcoin.
Cryptocurrencies
Top Gainers:• GT → Increased by 12.8% to reach $17.20.• KAIA → Increased by 12.6% to reach $0.19770911.• IP → Increased by 11.4% to reach $2.90.• HNT → Increased by 11.0% to reach $2.55.• SEI → Increased by 10.9% to reach $0.2017996.
Top Losers:• CHEX → Declined by 7.3% to $0.2022507.• RAY → Declined by 6.4% to $2.14.• AB → Declined by 5.5% to $0.01467079.• MORPHO → Declined by 4.9% to $1.29.• AERO → Declined by 4.7% to $0.87750806.
Fear Index:• Bitcoin: 55 (Neutral)• Ethereum: 41 (Fear)
Dominance:• Bitcoin: 64.86% ▲ 0.05%• Ethereum: 9.48% ▼ 0.04%
Daily Total Net ETF Inflows• BTC ETFs: $388.30 million• ETH ETFs: $19.10 million
Global Markets
We previously mentioned speculation that the U.S. might intervene militarily in Iran. The White House has now issued a statement on the matter, indicating that “a decision will be made within two weeks.” This message has slightly eased tensions in global markets. However, it may also be interpreted as a political tactic. Meanwhile, tensions between Iran and Israel persist.
U.S. markets were closed yesterday due to a public holiday. However, futures markets are showing a bearish tone this morning. The VIX fear index rose by 2 points to 22.2, signaling that market anxiety remains elevated.
The Bank of England announced its interest rate decision yesterday, keeping its policy rate unchanged, as expected. The accompanying statement stressed that caution would be exercised with regard to potential rate cuts.
Top Companies and Stock Prices• Microsoft (MSFT) → Market capitalization of $3.57 trillion, share price of $480.24, up 0.46%.• NVIDIA (NVDA) → Market capitalization of $3.55 trillion, share price of $145.48, up 0.94%.• Apple (AAPL) → Market capitalization of $2.94 trillion, share price of $196.58, up 0.48%.• Amazon (AMZN) → Market capitalization of $2.26 trillion, share price of $212.52, down 1.07%.• Alphabet (GOOG) → Market capitalization of $2.11 trillion, share price of $173.98, down 1.83%.
Borsa Istanbul
Yesterday, the Central Bank of the Republic of Turkey (CBRT) kept its policy rate unchanged, as expected. Although some progress was noted on the inflation front, the statement did not provide a clear signal regarding a potential rate cut.
According to recent data, short-term external debt stock declined by 2.6% in April to $168.4 billion, while housing sales rose by 17.6% in May.
Following the interest rate decision, selling pressure emerged on Borsa Istanbul. However, shares of Tüpraş and Aselsan managed to close the day in positive territory. Today, a slightly bearish trend may be observed on the BIST.
Companies with the Highest Market Value on the Istanbul Stock Exchange• QNB Finansbank (QNBTR) → Market value of 840.85 billion TL, share price of 251.00 TL, 0.00% change.• Aselsan Elektronik Sanayi (ASELS) → Market value of 657.10 billion TL, share price of 145.50 TL, 0.97% increase.• Türkiye Garanti Bankası (GARAN) → Market value of 471.66 billion TL, share price of 115.70 TL, 3.03% increase.• Koç Holding A.Ş. (KCHOL) → Market value of 365.17 billion TL, share price of 145.70 TL, increase of 1.18%.• Enka Construction and Industry (ENKAI) → Market value of 356.40 billion TL, share price of 61.60 TL, increase of 1.32%.
- Precious Metals and Currency Prices
- • Gold: 4,274 TL• Silver: 45.87 TL• Platinum: 1,654 TL• Dollar: 39.66 TL• Euro: 45.78 TL
We look forward to bringing you the latest updates again tomorrow.
