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.We mentioned in our previous newsletters and analyses that Bitcoin faces resistance around $122,000. Following both horizontal resistance and a trend reversal, we are experiencing a technically healthy pullback. If a reversal from $117,900 occurs, we can expect a move back into the trend zone. We currently see it remaining above $118,000. In the opposite scenario, the $114,000 support will be decisive in the short term.Ethereum, on the other hand, appears to have more volume compared to BTC. It made a clear break above $3,400 and is now trading near the $3,500 resistance level.
Crypto News
- The BlackRock Ethereum ETF saw $500 million in inflows yesterday.
- ETH broke above $3,400 for the first time since February.
- Holders of Trump's World Liberty Financial cryptocurrency have voted to make the token tradable.
- The US House of Representatives has formally passed the Anti-CBDC Act, the Genius Act, and the Clarity Act.
- Investors are pricing in a greater than 50% chance that the Fed will cut interest rates in September.
- Windtree Therapeutics will purchase $200 million worth of BNB for its treasury.
- Bank of America: "The company will collaborate with some stablecoins."
Cryptocurrencies
Top Gainers:
- FLOKI → Up 34.6% to $0.0001343
- CRV → Up 23.7% to $0.98030287
- MEW → Up 23.6% to $0.00397761
- BONK → Up 21.7% to $0.00003807
- TOSHI → Up 18.3% to $0.0007296
Top Losers:
- TKX → Down 27.6% to $6.74
- PUMP → Down 19.0% to $0.00531582
- M → Down 18.0% to $0.3304374
- KTA → Down 12.7% to $0.74222945
- PENGU → Down 10.4% to $0.03000343
Fear Index:
- Bitcoin: 72 (Greed)
- Ethereum: 61 (Greed)
Dominance:
- Bitcoin: 63.08% ▲ 0.05%
- Ethereum: 10.82% ▼ 0.56%
Total Daily Net ETF Inflows
- BTC ETFs: $799.40 Million
- ETH ETFs: $726.60 Million
Global Markets
Markets are experiencing volatility due to concerns about the Fed's independence and its balance sheet announcements. Rumors that Trump will fire Fed Chair Powell sent the VIX volatility index to 19.5, but the index closed at 17.2 after Trump denied the news.In the US, the June PPI remained unchanged on a monthly basis, while the annual increase slowed from 2.7% to 2.3%. Industrial production increased by 0.3%, exceeding expectations, and capacity utilization rose to 77.6%. Mortgage applications fell by 10%, recording their sharpest weekly decline since mid-April; the 30-year mortgage rate rose to 6.82%.As the Trump-Powell tensions continue, global markets are seeing negative US futures, positive European futures, and mixed Asian futures.
Most Valuable Companies and Stock Prices:
- NVIDIA (NVDA) → $4.18 trillion market capitalization, $171.37 per share, up 0.39%
- Microsoft (MSFT) → $3.76 trillion market capitalization, $505.62 per share, down 0.04%
- Apple (AAPL) → $3.14 trillion market capitalization, $210.16 per share, increased by 0.50%
- Amazon (AMZN) → $2.37 trillion market capitalization, $223.19 per share, decreased by 1.40%
- Alphabet (GOOG) → $2.22 trillion market capitalization, $183.77 per share, increased by 0.37%
Borsa Istanbul
Following a positive opening yesterday at Borsa Istanbul, the BIST 100 index fell nearly 3% following news of Israel's strike on Damascus. It then recovered nearly 2%, closing the day with a 1.02% loss at 10,121 points. Reaction buying may continue today. Resistance levels at 10,300 and 10,450, and support levels at 10,000 and 9,800 should be closely monitored.In June, the central government budget posted a deficit of 330.2 billion TL. This figure was below the Treasury's cash deficit but above the same month last year. The primary deficit was 54.5 billion TL, bringing the total deficit in the first half of the year to 980.5 billion TL, and the 12-month cumulative deficit to 2.3 trillion TL.
Companies with the Highest Market Capitalization on Borsa Istanbul:
- QNB Finansbank (QNBTR) → Market capitalization of 1.05 trillion TL, price per share of 325.00 TL, increased by 3.83%
- Aselsan Elektronik Sanayi (ASELS) → Market capitalization of 737.35 billion TL, price per share of 162.70 TL, increased by 0.62%
- Türkiye Garanti Bankası (GARAN) → Market capitalization of 562.38 billion TL, price per share of 134.90 TL, increased by 0.75%
- Koç Holding A.Ş. (KCHOL) → Market capitalization of 408.28 billion TL, price per share of 161.60 TL, increased by 0.37%
- Turkish Airlines Inc. (THYAO) → Market capitalization of 393.3 billion TL, price per share of 289.00 TL, increased by 1.40%
Precious Metals and Currency Prices:
- Gold: 4322 TL
- Silver: 49.01 TL
- Platinum: 1836 TL
- Dollar: 40.25
- Euro: 46.82 TL
We look forward to bringing you the latest updates again tomorrow.
