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 continues its high-volume structure that it has maintained for several days. After breaking out strongly from the downward trend it started in May, it successfully retested the $108,500 level. The $110,600 and $111,920 levels are currently short-term targets. If a new ATH is reached, the $114,000 and $120,000 levels will be closely monitored. In the event of a pullback, the trend zone, i.e., the $108,000 area, will be the first region to react. Below that, the $107,100 level will come into focus.
Ethereum is currently trading near the midpoint of a narrowing triangle pattern when viewed from a broader perspective. Holding above the $2,420 level was significant in the short term, but the price has since returned to its previous range. As with Bitcoin, trading volume remains high, and a move toward the previously tested $2,680 and $2,900 levels may be anticipated. In case of a pullback, the $2,275–$2,400 support range will be closely monitored.
Crypto News
- Coinbase acquired Liquify.
- Trump signed a trade agreement with Vietnam.
- SEC Chairman Paul Atkins said the agency is committed to advancing tokenization.
- The US Federal Housing Finance Agency (FHFA) has requested an urgent congressional investigation into Fed Chairman Powell for alleged misuse of his position.
- Ripple is seeking a national banking license, joining other cryptocurrency companies seeking integration with traditional financial systems.
- U.S. Treasury Secretary Faulkender: I expect a series of agreements to be announced next week.
Cryptocurrencies
Top Gainers:
- MOODENG → Increased by 42.3% to $0.19902918
- NEIRO → Increased by 27.4% to $0.00048296
- BONK → Increased by 20.7% to $0.00001718
- USELESS → Increased by 19.8% to $0.25870575
- KTA → Increased by 17.3% to $0.69341888
Top Losers:
- KAITO → Declined by 5.8% to $1.61
- KET → Declined by 2.7% to $0.38153133
- AB → Declined by 1.5% to $0.00829551
- ZBCN → Declined by 1.2% to $0.00326608
- WBT → Declined by 0.7% to $43.75
Fear Index:
- Bitcoin: 68 (Greed)
- Ethereum: 55 (Greed)
Dominance:Bitcoin: 65.19% ▼ 0.12%Ethereum: 9.34% ▼ 0.22%
Daily Total Net ETF InflowsBTC ETFs: $407.80 millionETH ETFs: –$1.90 million
Key Data to Watch Today
- US – Independence Day – Early close at 1:00 PM
- 3:30 PM – Average Hourly Earnings (Monthly) (June) Expected: 0.3% | Previous: 0.4%
- 3:30 PM – Initial Jobless Claims Forecast: 240K | Previous: 236K
- 3:30 PM – Nonfarm Payrolls (June) Forecast: 111K | Previous: 139K
- 3:30 PM – Unemployment Rate (June) Expectation: 4.3% | Previous: 4.2%
- 4:45 PM – Services Purchasing Managers' Index (PMI) (June) Expectation: 53.1 | Previous: 53.1
- 5:00 PM – ISM Non-Manufacturing Purchasing Managers' Index (PMI) (June) Expectation: 50.8 | Previous: 49.9
Global Markets
U.S. indices closed higher ahead of the upcoming non‑farm payrolls report. The S&P 500 gained 0.47%, the Nasdaq rose 0.94%, while the Dow Jones ended the session flat. The trade agreement between the U.S. and Vietnam was positively received by markets, as it is expected to help mitigate the inflationary impact of high tariffs. In response to these developments, the VIX fear index declined to 16.6.
June’s ADP private sector employment data showed an unexpected decline of 33,000 jobs, marking the first drop since March 2023. Job losses were concentrated in small and medium-sized businesses, while large firms continued to add workers. Today, markets will closely follow non‑farm payrolls, the ISM services index, and weekly jobless claims in the U.S.
Most Valuable Companies and Stock Prices
- NVIDIA (NVDA) → Market capitalization of $3.84 trillion, share price of $157.25, up 2.58%.
- Microsoft (MSFT) → Market capitalization of $3.65 trillion, share price of $491.09, down 0.20%.
- Apple (AAPL) → Market capitalization of $3.17 trillion, share price of $212.44, up 2.22%.
- Amazon (AMZN) → Market capitalization of $2.33 trillion, share price of $219.92, down 0.24%.
- Alphabet (GOOG) → Market capitalization of $2.17 trillion, share price of $179.76, up 1.61%.
Borsa Istanbul
While Borsa Istanbul continues to hold above 10,000 points, cash inflows and trading volume continue to increase. According to inflation data released today for June, the CPI rose 1.64% month‑on‑month, with annual inflation reaching 35.05%. The data came in slightly below the market expectation of 35.2%. The lower-than-expected inflation supports the upward trend in the BIST, particularly in interest rate‑sensitive sectors.
According to provisional data from the Ministry of Trade, exports increased by 8% year‑on‑year to $20.5 billion in June, while imports increased by 15.3% to $28.7 billion. As a result, the trade deficit increased by $2.3 billion year‑on‑year to $8.2 billion. The total deficit for the first half of the year was $49.4 billion, while the 12‑month cumulative deficit was $89.2 billion. This indicates that the deterioration in the trade balance continues.
Following a nearly 30% rise in the banking index over the past month, the likelihood of a stock shift has increased, while the CDS remaining at 280 basis points may limit the upward movement in the index. Today, we expect a volatile but generally positive trend on the BIST following the release of the data.
Companies with the Highest Market Value on Borsa Istanbul
- QNB Finansbank (QNBTR) → Market value of 958.1 billion TL, share price of 284.75 TL, down 0.44%.
- Aselsan Elektronik Sanayi (ASELS) → Market value of 663.94 billion TL, share price of 150.20 TL, up 3.16%.
- Türkiye Garanti Bankası (GARAN) → Market value of 583.38 billion TL, share price of 136.20 TL, experienced a 1.94% decline.
- Koç Holding A.Ş. (KCHOL) → Market value of 410.82 billion TL, share price of 163.00 TL, saw a 0.62% increase.
- Turkish Airlines A.O. (THYAO) → Market value of 401.58 billion TL, share price of 291.75 TL, increase of 0.26%.
Precious Metals and Currency Prices
- Gold: 4,293 TL
- Silver: 46.17 TL
- Platinum: 1,739 TL
- Dollar: 39.91 TL
- Euro: 47.06 TL
We look forward to bringing you the latest updates again tomorrow.
