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.
Let's analyze general market conditions together and take a look at the latest valuations.
Bitcoin started the new week with a rise in reaction after spending the last week in a decline. BTC, which has fallen to the level of $ 111,920, is currently trading in the region of $ 114,000.itcoin started the new week with a rise in reaction after spending the last week in a decline. BTC, which has fallen to the level of $ 111,920, is currently trading in titcoin started the new week with a rise in reaction after spending the last week in a decline. BTC, which has fallen to the ln.
Crypto News
- Markets have begun fully pricing in two Fed rate cuts by the end of 2025.
- The SEC will hold crypto 'roundtables' across the US.
- Fed member KUGLER will resign on August 8.
- Trump: Firing Powell would shake the market.
Cryptocurrencies
Top Risers:
- M → Up 16.3% to $0.49140386
- ENA → Up 13.2% to $0.61483895
- KTA → Up 11.5% to $1.07
- CVX → Up 11.0% to $4.28
- XLM → Up 9.5% to $0.41381391
Top Fallers:
- PI → Down 4.7% to $0.35611547
- BDX → Down 3.2% to $0.07316175
- IP → Down 2.9% to $6.00
- TKX → Down 2.3% to $5.20
- IOTX → Down 2.2% to $0.02858162
Fear Index:
- Bitcoin: 59 (Greed)
- Ethereum: 49 (Neutral)
Dominance:
- Bitcoin: 62.02% ▼ 0.24%
- Ethereum: 11.64% ▲ 0.86%
Total Daily Net ETF Inflows
- BTC ETFs: -$812.30 Million
- ETH ETFs: -$152.30 Million
Global Markets
While US July employment data released on Friday fell short of expectations, sharp downward revisions to June data and the unemployment rate rising from 4.1% to 4.2% caused sell-offs in global stock markets. Following the data, US bond yields, the dollar index, and oil prices declined. However, on the first day of the week, global risk appetite is recovering as expectations for a Fed rate cut rise again and progress is being made in trade negotiations. Buying is notable in US and European futures indices, as well as in Asian stock markets excluding Japan.
Following the employment data, Trump fired the Commissioner of the Bureau of Labor Statistics. Furthermore, Fed Member Adriana Kugler resigned before her term expired. These developments raised questions in some market circles about the reliability of the data and the Fed's independence.
The VIX index rose to 20.38 on Friday. A sustained reading of 21-22 this week suggests that selling pressure may persist, while a drop below 20 suggests that the reactionary selling may be temporary.
Most Valuable Companies and Stock Prices
- NVIDIA (NVDA) → $4.24 trillion market capitalization, $173.72 per share, fell 2.33%.
- Microsoft (MSFT) → $3.9 trillion market capitalization, $524.11 per share, decreased by 1.76%.
- Apple (AAPL) → $3.02 trillion market capitalization, $202.38 per share, decreased by 2.50%.
- Alphabet (GOOG) → $2.29 trillion market capitalization, $189.95 per share, decreased by 1.51%.
- Amazon.com (AMZN) → $2.28 trillion market capitalization, $214.75 per share, decreased by 8.27%.
Borsa Istanbul
Exports increased by 11% to $25 billion in July, while imports increased by 5.4% to $31.4 billion. The foreign trade deficit narrowed by $6.4 billion compared to the previous year. The seven-month deficit is $55.9 billion, while the annual deficit is $88.3 billion. Seasonally adjusted data also point to an improvement in the foreign trade balance.
The Manufacturing PMI index fell to 45.9 in July, and demand remains weak. The Istanbul CPI increased by 2.62% in July, representing a 42.5% annual increase. The CPI data, to be released today at 10:00 am, is the most important market agenda for the week. Monthly inflation is expected to be 2.3% and annual inflation is expected to be 33.9%.
The BIST-100 closed last week slightly higher at 10,500, with buying activity. On Friday, selling was seen abroad following the weak US employment data. A lower-than-market inflation rate today could lead to buying in the BIST. However, we expect a flat start to the week.
Companies with the Highest Market Value on Borsa Istanbul
- QNB Finansbank (QNBTR) → Market capitalization of 1.86 trillion TL, price per share of 609.0 TL, increased by 9.93%.
- Aselsan Elektronik Sanayi (ASELS) → Market capitalization of 840.86 billion TL, price per share of 185.8 TL, increased by 0.76%.
- Türkiye Garanti Bankası (GARAN) → Market capitalization of 611.1 billion TL, price per share of 150.9 TL, increased by 3.71%.
- Koç Holding A.Ş. (KCHOL) → Market capitalization of 462.55 billion TL, price per share of 184.3 TL, increased by 1.04%.
- ENKA İnşaat ve Sanayi (ENKAI) → Market capitalization of 403.88 billion TL, price per share of 69.85 TL, increased by 1.38%.
Precious Metals and Currency Prices
- Gold: 4388 TL
- Silver: 48.68 TL
- Platinum: 1725 TL
- Dollar: 40.67 TL
- Euro: 47.11 TL
We look forward to bringing you the latest updates again tomorrow.
