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 has moved away from the range it established at the ATH. The decline following the announcement of global tariffs has closed the CME gap for BTC. The $114,000 area appears to be the first short-term support area. Below this level, the $111,800 area serves as the support area. The first upward move will target the $116,000 resistance level.
Ethereum, on the other hand, remains stronger than BTC. Still trading within a wide resistance band, ETH is in positive territory up to the $3500 support level. Below this area, support lies at $3200.
Crypto News
- Circle will add native $USDC to Hyperliquid, enabling direct deposits and withdrawals.
- The SEC announced the launch of a project-crypto initiative to modernize securities rules and move markets on-chain.
- SEC Chairman: Most crypto assets are not securities.
- SEC Chairman Atkins: I have instructed Commission staff to develop clear rules for crypto distribution, custody, and trading.
- The Ethereum Foundation announced its goals for the next 10 years: It will work to reach a throughput of 10,000 transactions per second (TPS) and make the network quantum-resistant.
- VanEck filed an updated version of its spot Solana ETF S-1 application.
- MicroStrategy filed for a $4.2 billion STRC offering and plans to purchase Bitcoin with the proceeds.
- Apple's earnings report exceeded expectations.
Cryptocurrencies
Top Risers:
- M → Up 13.7% to $0.36795594
- SAROS → Up 5.3% to $0.38112247
- ZORA → Up 5.2% to $0.07249998
- TKX → Up 2.8% to $5.03
- TFUEL → Up 1.2% to $0.03802554
Top Fallers:
- REKT → Down 25.6% to $0.000991406
- USELESS → Down 21.1% to $0.24320178
- KTA → Down 19.6% to $0.94815464
- SPX → Down 17.6% to $1.64
- WEMIX → Down 16.9% to $0.76597282.
Fear Index:
- Bitcoin: 69 (Greed)
- Ethereum: 53 (Neutral)
Dominance:
- Bitcoin: 61.85% ▲ 0.20%
- Ethereum: 11.94% ▼ 0.21%
Total Daily Net ETF Inflows
- BTC ETFs: -$114.80 Million
- ETH ETFs: $17.00 Million
Global Markets
We begin the last trading day of the week with weak risk appetite. The Fed kept interest rates steady but maintained its tight stance. PCE inflation data released yesterday exceeded expectations with 2.6% in the headline and 2.8% in the core.
US and European stock markets finished the day lower. The decreased risk appetite following the Fed's decision created selling pressure on global markets.
US President Trump approved new tariffs effective August 7th. The VIX index increased by 1.2 points to 16.72. Caution remains prevalent in the markets ahead of today's nonfarm payrolls data.
Most Valuable Companies and Stock Prices
- NVIDIA (NVDA) → $4.34 trillion market capitalization, $177.87 per share, down 0.78%.
- Microsoft (MSFT) → $3.97 trillion market capitalization, $533.50 per share, up 3.95%.
- Apple (AAPL) → $3.1 trillion market capitalization, $207.57 per share, down 0.71%.
- Amazon.com (AMZN) → $2.49 trillion market capitalization, $234.11 per share, up 1.70%.
- Alphabet (GOOG) → $2.33 trillion market capitalization, $192.86 per share, experienced a 2.32% decline.
Borsa Istanbul
According to TÜRK-İŞ data, the hunger threshold increased by 1.1% month-over-month to 26,413 TL in July. The annual increase slightly decreased from 37.6% to 37.3%. The services PPI rose by 4.72% month-over-month and 37.40% year-over-year in June.
The Treasury plans to pay a total of 859 billion TL in domestic debt during the August-October period. In August, domestic borrowing of 440.8 billion TL is targeted, compared to the 339 billion TL domestic debt service.
Following the announcement of new tariffs by the US, risk appetite in global markets has slightly decreased. Turkey's tariff rate increased by 5 percentage points to 15%. However, the market impact of this increase is expected to be limited. The BIST-100 index closed at 10,743 yesterday, its highest since March 18th. Optimism may remain in the medium term, but a slight sell-off is possible today due to international influences. The market has begun to focus on the CPI data to be released on Monday.
Companies with the Highest Market Value on Borsa Istanbul
- QNB Finansbank (QNBTR) → Market capitalization of 1.69 trillion TL, price per share of 554.0 TL, increased by 9.92%.
- Aselsan Elektronik Sanayi (ASELS) → Market capitalization of 852.72 billion TL, price per share of 185.4 TL, decreased by 0.86%.
- Türkiye Garanti Bankası (GARAN) → Market capitalization of 599.76 billion TL, price per share of 143.3 TL, increased by 0.35%.
- Koç Holding A.Ş. (KCHOL) → Market value 454.69 billion TL, price per share 183.8 TL, increased by 2.51%.
- ENKA Construction and Industry (ENKAI) → Market capitalization: 407.99 billion TL, price per share: 69.65 TL, increased by 0.07%.
Precious Metals and Currency Prices
- Gold: 4305 TL
- Silver: 47.60 TL
- Platinum: 1662 TL
- Dollar: 40.66 TL
- Euro: 46.50 TL
We look forward to bringing you the latest updates again tomorrow.
