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.
As highlighted in previous articles, Bitcoin continues to demonstrate strong upward momentum, reaching new all-time highs. As we start the new week, another ATH has been confirmed. That said, the potential for further records and even higher levels remains significant.
On the Ethereum side, the rally has outpaced that of Bitcoin. For instance, while BTC gains 10%, ETH can move by around 20%. The current resistance at $3,072 represents a strong selling zone. A breakout above this level could pave the way for a move toward $3,500. However, if the price faces rejection here, the $2,880 support level will be critical to watch closely.
Crypto News
- White House Economic Advisor Hassett: Trump has the authority to fire Powell if there's a legitimate reason.
- Trump: The US will impose a 30% tax on the EU starting August 1.
- The Czech National Bank acquired Coinbase shares in the second quarter.
- Former Fed member Warsh said the Fed should cut interest rates immediately and that a change of Fed chair would be a good thing.
Cryptocurrencies
Top Gainers:
- M → Up 50.7% to $0.56798979
- MOG → Up 29.5% to $0.00000166
- ENA → Up 27.3% to $0.37180338
- SNEK → Up 27.1% to $0.00275231
- B → Up 24.4% to $0.46838309
Top Losers:
- USELESS → Down 6.5% to $0.27971634
- ZBCN → Down 6.0% to $0.00344617
- TKX → Down 4.1% to $12.12
- VENOM → Down 0.7% to $0.22752356
- USDY → Down 0.5% to $1.09
Fear Index:Bitcoin: 70 (Greed)Ethereum: 58 (Greed)
Dominance:Bitcoin: 64.65% ▼ 0.03%Ethereum: 9.97% ▼ 0.21%
Total Daily Net ETF Inflows:BTC ETFs: $1.03 BillionETH ETFs: $204.90 Million
Global Markets
We begin the week amid rising tariff tensions between the U.S. and the EU. The U.S. has announced it will impose 30% tariffs on goods from the EU and Mexico starting August 1, prompting a retaliatory response from the EU; both developments weighing heavily on global markets. Adding to the uncertainty, the U.S. administration’s calls for Fed Chair Powell’s resignation and threats of dismissal have further increased market stress. This week, investors will closely monitor U.S. inflation data, U.S.–EU trade negotiations, and signals from the ongoing earnings season. The VIX volatility index, which remained subdued throughout most of last week, edged higher on Friday in response to the tariff news but still closed the week lower. This indicates that, for now, market risk perception remains relatively contained.
Most Valuable Companies and Stock Prices
- NVIDIA (NVDA) → $4.02 trillion market capitalization, $164.92 per share, up 0.50%
- Microsoft (MSFT) → $3.74 trillion market capitalization, $503.32 per share, up 0.37%
- Apple (AAPL) → $3.15 trillion market capitalization, $211.16 per share, down 0.59%
- Amazon (AMZN) → $2.39 trillion market capitalization, $225.02 per share, up 1.24%
- Alphabet (GOOG) → $2.19 trillion market capitalization, $181.31 per share, up 1.46%
Borsa Istanbul
The domestic current account deficit fell below expectations at $0.7 billion in May. The 12‑month cumulative deficit rose to $16 billion, while the current account surplus, excluding gold and energy, climbed to $49.5 billion. The data suggest that the deterioration observed in April was temporary and that the overall balance is on an improving path.The BIST‑100 index closed last week with a gain of nearly 1%, with bank and REIT stocks showing notable outperformance, while the telecom sector came under selling pressure. This week brings a packed data calendar. The market will be closed tomorrow due to a public holiday, and we anticipate a slightly weak opening to the week for the BIST.
Companies with the Highest Market Value on Borsa Istanbul
- QNB Finansbank (QNBTR) → Market cap 975.69 billion TL, price 291.25 TL, up 2.92%
- Aselsan Elektronik Sanayi (ASELS) → Market cap 702.24 billion TL, price 154.00 TL, up 0.98%
- Türkiye Garanti Bankası (GARAN) → Market cap 597.24 billion TL, price 142.20 TL, up 0.21%
- Koç Holding A.Ş. (KCHOL) → Market cap 419.94 billion TL, price 165.60 TL, up 1.35%
- Türk Hava Yolları A.O. (THYAO) → Market cap 404.34 billion TL, price 293.00 TL, up 0.69%
Precious Metals and Currency Prices
- Gold: 4,344 TL
- Silver: 50.49 TL
- Platinum: 1,814 TL
- Dollar: 40.21 TL
- Euro: 46.89 TL
We look forward to bringing you the latest updates again tomorrow.
