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.
After declining throughout last week, Bitcoin kicked off the new week with a rebound. Having dropped to $111,920, BTC is now trading around the $114,000 level. Support is seen at $113,500 on the lower end. In the short term, Ethereum is targeting the $116,200 level.
The target highlighted in yesterday’s bulletin was reached within the same day, reflecting a sustained positive market structure. ETH, which climbed to $3,730, is now eyeing the $4,000 region, as long as it holds above the $3,500 support level.
Crypto News
- Bitmine, chaired by renowned investor Tom Lee, continues to purchase Ether. The company has acquired an additional 208,000 ETH since last week, bringing its total holdings to 833,000 ETH.
- The Strategy purchased 21,020 BTC between July 28 and August 3.
- Nasdaq-listed company Verb Technology announced its TON treasury strategy with a $558 million investment.
- The EU will suspend trade measures against the US for 6 months.
- $1.1 trillion was added to the US stock market yesterday.
- The CFTC will launch an initiative to "buy and sell spot crypto asset contracts."
Cryptocurrencies
Top Risers:
- MNT → Up 22.7% to $0.8939078
- LTC → Up 11.7% to $124.14
- FLUID → Up 11.2% to $5.58
- M → Up 10.6% to $0.54350284
- PUMP → Up 10.5% to $0.00318824
Top Fallers:
- SAROS → Down 7.1% to $0.37846208
- TON → Down 5.6% to $3.35
- TRIBE → Down 5.6% to $0.57204557
- FRAX → Down 4.5% to $2.80
- ZBCN → Down 4.0% to $0.00507614
Fear Index:
- Bitcoin: 60 (Greed)
- Ethereum: 42 (Fear)
Dominance:
- Bitcoin: 61.59% ▲ 0.27%
- Ethereum: 11.92% ▼ 1.07%
Total Daily Net ETF Inflows
- BTC ETFs: -$323.50 Million
- ETH ETFs: -$465.10 Million
Global Markets
Rising expectations of a Fed interest rate cut, progress in trade negotiations, and positive corporate news are all supporting global markets. U.S., European futures, and Asian stock markets are trading higher this morning.
The VIX index, which had climbed to 20.38 on Friday, dropped to 17.52 yesterday, signaling a decline in market anxiety.
In the U.S., durable goods orders fell by 9.4% in June, while new orders excluding transportation saw only a modest increase of 0.2%. Service sector data will be released today. In July, the composite PMI stood at 54.6 and the services index at 55.2—both indicating growth. The ISM services index for July is expected to come in at 51.5.
Most Valuable Companies and Stock Prices
- NVIDIA (NVDA) → $4.39 trillion market capitalization, $180.00 per share, up 3.62%.
- Microsoft (MSFT) → $3.98 trillion market capitalization, $535.64 per share, up 2.20%.
- Apple (AAPL) → $3.04 trillion market capitalization, $203.35 per share, up 0.48%.
- Alphabet (GOOG) → $2.36 trillion market capitalization, $195.75 per share, up 3.05%.
- Amazon.com (AMZN) → $2.26 trillion market capitalization, $211.65 per share, fell 1.44%.
Borsa Istanbul
The monthly CPI (CPI) fell 2.06% in July, below both our and market expectations. This brought annual inflation down to 33.5%. Core inflation indicators also declined, with the B index reaching 33.8% and the C index reaching 34.7%. The Central Bank of the Republic of Turkey (CBRT) real effective exchange rate and seasonally adjusted data from TurkStat (Turkish Statistical Institute) will be monitored today.
Following the lower-than-expected inflation data, the BIST-100 index rose 1% yesterday, led by banking stocks. However, it retreated 0.7% from its intraday peak. The BIST-100 is expected to maintain its upward trend.
Companies with the Highest Market Value on Borsa Istanbul
- QNB Finansbank (QNBTR) → Market capitalization of 2.04 trillion TL, price per share of 669.5 TL, increased by 9.93%.
- Aselsan Elektronik Sanayi (ASELS) → Market capitalization of 859.56 billion TL, price per share of 186.4 TL, decreased by 1.11%.
- Türkiye Garanti Bankası (GARAN) → Market capitalization of 637.56 billion TL, price per share of 151.9 TL, increased by 0.07%.
- Koç Holding A.Ş. (KCHOL) → Market capitalization of 460.77 billion TL, price per share of 181.2 TL, decreased by 0.28%.
- ENKA İnşaat ve Sanayi (ENKAI) → Market capitalization of 409.75 billion TL, price per share of 71.00 TL, increased by 1.57%.
Precious Metals and Currency Prices
- Gold: 4402 TL
- Silver: 49.03 TL
- Platinum: 1749 TL
- Dollar: 40.68 TL
- Euro: 47.01 TL
We look forward to bringing you the latest updates again tomorrow.
