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 briefly dipped below the $100,000 mark at the height of geopolitical tensions over the weekend, following the U.S. intervention in the Iran–Israel conflict. However, fueled by strong buying momentum at the start of the new week, BTC quickly reclaimed this critical psychological threshold. The price surged from a low of $98,000 to as high as $108,000. A pullback after such a sharp rally is considered natural, while holding above the $100,000 level continues to serve as a key confidence line, both technically and psychologically.
As for Ethereum, as highlighted in our previous analysis, the $2,100 region has proven to be a solid support zone. Renewed buying interest in this area has propelled ETH toward the short-term target of $2,400. The $2,430 level is currently being monitored as support, while $2,600 stands as the next resistance to watch.
Crypto News
- Invesco Galaxy submitted the S-1 form for the Solana ETF.
- Canary filed an application with the CBOE for the PENGU ETF.
- The US Federal Housing Finance Agency (FHFA) decided to accept cryptocurrencies as collateral (mortgage) for those wishing to buy a home.
- The FHFA directed Fannie Mae and Freddie Mac to consider crypto assets in their mortgage evaluations.
- NVIDIA reached a new ATH level.
- Powell: At some point, we will resume interest rate cuts.
- The Nasdaq 100 reached a new ATH, hitting an all-time high.
Cryptocurrencies
Top Gainers:
- MOVE → Increased by 33.5% to $0.19715073.
- MOCA → Increased by 11.1% to $0.07644085.
- XCN → Increased by 10.4% to $0.01645214.
- KAS → Increased by 7.6% to $0.07954247.
- DOG → Increased by 7.3% to $0.00407479.
Top Losers:
- FRAX → Declined by 11.4% to $2.02.
- POPCAT → Declined by 9.0% to $0.27353041.
- CRV → Down 8.9% to $0.52128798.
- FARTCOIN → Down 8.5% to $0.9840403.
- SEI → Down 8.2% to $0.28035777.
Fear Index:
- Bitcoin: 70 (Greed)
- Ethereum: 57 (Greed)
Dominance:
- Bitcoin: 65.61% ▼ 0.17%
- Ethereum: 9.16% ▲ 1.90%
Daily Total Net ETF Inflows
- BTC ETFs: $547.70 million
- ETH ETFs: $60.40 million
Global Markets
Global risks continue to take a back seat as the Israel–Iran ceasefire continues, and the positive mood in global markets is maintained. The calm course of oil prices and the improvement in risk perception are providing stability to the stock markets. The VIX volatility index fell 0.7 points yesterday to 16.8, its lowest level since February.
Today's data calendar is busy in the US. The May trade balance, durable goods orders, pending home sales, and the final estimate of first-quarter growth will be monitored. According to the second estimate, the US economy contracted by 0.2% in the first quarter of the year. During this period, imports of goods and services increased by 43%, while growth in consumer spending was 1.2%, the lowest level in the last five quarters.
Most Valuable Companies and Stock Prices
- NVIDIA (NVDA) → Market capitalization of $3.77 trillion, share price of $154.31, up 4.33%.
- Microsoft (MSFT) → Market capitalization of $3.66 trillion, share price of $492.27, up 0.44%.
- Apple (AAPL) → Market capitalization of $3.01 trillion, share price of $201.56, up 0.63%.
- Amazon (AMZN) → Market capitalization of $2.25 trillion, share price of $211.99, down 0.37%.
- Alphabet (GOOG) → Market value of $2.08 trillion, share price of $171.49, up 2.24%.
Borsa Istanbul
According to a report published by the Central Bank of the Republic of Turkey (CBRT) in June, inflation expectations declined across all sectors. Inflation expectations for the next 12 months fell to 24.6% among market participants, 39.8% in the real sector, and 53% among households. This is the lowest level since November 2021.
There was strong demand for the Treasury's 5-year $2.5 billion lease certificate issuance. The lease rate was set at 6.75%. Thus, a total of $7 billion in external funding has been secured since the beginning of the year.
The BIST 100 closed yesterday with a 0.3% decline. Holding, retail, and refinery stocks retreated, while Aselsan and Turkcell remained strong. The Monetary Policy Committee (MPC) summary will be announced today. If there are no significant developments on the global front, the market may remain flat.
Top Companies by Market Capitalization on the Istanbul Stock Exchange
- QNB Finansbank (QNBTR) → Market capitalization of 866.81 billion TL, share price of 265.00 TL, up 2.42%.
- Aselsan Elektronik Sanayi (ASELS) → Market value of 676.7 billion TL, share price of 147.10 TL, down 0.88%.
- Türkiye Garanti Bankası (GARAN) → Market value of 502.32 billion TL, share price of 121.00 TL, up 1.17%.
- Turkish Airlines A.O. (THYAO) → Market value of 374.67 billion TL, share price of 272.00 TL, saw a 0.18% increase.
- Enka Construction and Industry (ENKAI) → Market value of 369.3 billion TL, share price of 64.30 TL, increase of 2.06%.
Precious Metals and Currency Prices
- Gold: 4,266 TL
- Silver: 46.47 TL
- Platinum: 1,778 TL
- Dollar: 39.76 TL
- Euro: 46.56 TL
We look forward to bringing you the latest updates again tomorrow.
