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 sound 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 has made a clear break above the $3500 level and is now trading near the $3700 resistance area.
Crypto News
- SharpLink Gaming has filed for a $5 billion share sale to acquire more ETH.
- The US House of Representatives has passed the latest crypto bill, Anti-CBDC. The bill, which bans the Fed from issuing digital currencies, will be sent to the Senate.
- The US House of Representatives has formally passed the crypto bill CLARITY.
- The House Passes the Crypto Market Structure Bill, Sends it to the Senate.
- The US House of Representatives has also passed the other crypto bill, GENIUS.
- Blackrock has applied to add staking to its Ethereum ETF.
- NASDAQ has submitted a proposal to allow staking for the iShares Ethereum Trust.
Cryptocurrencies
Top Gainers:
- TKX → Up 62.1% to $10.96
- GIGA → Up 25.5% to $0.02435242
- LDO → Up 22.6% to $1.14
- SNEK → Up 20.5% to $0.004006
- UNI → Up 19.4% to $10.62
Top Losers:
- CVX → Down 14.2% to $4.49
- CHEEMS → Down 9.2% to $0.0000015
- DEXE → Down 6.4% to $7.98
- BONK → Down 6.3% to $0.00003593
- USELESS → Down 6.0% to $0.32065324
Fear Index:
- Bitcoin: 73 (Greed)
- Ethereum: 55 (Greed)
Dominance:
- Bitcoin: 61.73% ▼ 0.82%
- Ethereum: 11.26% ▲ 2.18%
Total Daily Net ETF Inflows
- BTC ETFs: $514.80 Million
- ETH ETFs: $584.80 Million
Global Markets
Global risk appetite is generally strong. US and European futures indices are bullish, while Asia is flat. The VIX index fell to 16.5, returning to last week's average. This suggests that risk appetite is increasing due to the better-than-expected US retail sales, employment data, and earnings figures.
In the US, retail sales increased by 0.6% month-over-month in June, exceeding expectations (0.1%), while sales excluding automotive and gasoline also rose by the same amount. The control group, which reflects economic growth, also increased by 0.5%. Unemployment claims fell below expectations at 221,000 for the week of July 12th. Thus, while the labor market remains positive, the four-week average number of claims also declined. However, continuing claims, at 1.96 million, remain above 1.9 million since May.
Most Valuable Companies and Stock Prices
• NVIDIA (NVDA) → $4.22 trillion market capitalization, $173.00 per share, increased by 0.95%.
• Microsoft (MSFT) → $3.8 trillion market capitalization, $511.70 per share, increased by 1.20%.
• Apple (AAPL) → $3.14 trillion market capitalization, $210.02 per share, down 0.07%.
• Amazon (AMZN) → $2.38 trillion market capitalization, $223.88 per share, up 0.31%.
• Alphabet (GOOG) → $2.23 trillion market capitalization, $184.70 per share, up 0.51%.
Borsa Istanbul
The Borsa Istanbul stock market saw a 2.5% rise yesterday, noting strong inflows. The index is expected to head towards the 10,450/10,500 resistance zone. With net foreign inflows of $1.1 billion in June, total inflows reached $1.9 billion in the first half of the year.
Home sales in June increased by 35.8% year-over-year to 107,723. However, there was a 5.3% month-over-month decrease in seasonally adjusted terms. Mortgaged sales increased by 112.6% annually. Sales to foreigners increased by 8.7%. Housing prices increased by 2% in June, with an annual increase of 32.8%, and a real decrease of 1.7%.
Short-term external debt stock increased by 1.2% in May, reaching $170.3 billion. Total external debt with a maturity of one year or less reached $222.3 billion. The stock market is expected to see strong buying activity today.
Companies with the Highest Market Value on Borsa Istanbul
- QNB Finansbank (QNBTR) → Market capitalization of 1.05 trillion TL, price per share of 325.00 TL, increased by 10.0%.
- Aselsan Elektronik Sanayi (ASELS) → Market capitalization of 737.35 billion TL, price per share of 162.70 TL, increased by 0.62%. • Garanti Bank of Turkey (GARAN) → 562.38 billion TL market capitalization, 134.90 TL per share, increased by 0.75%.
- Koç Holding A.Ş. (KCHOL) → 408.28 billion TL market capitalization, 161.60 TL per share, increased by 0.37%.
- Turkish Airlines Inc. (THYAO) → Market capitalization: 393.3 billion TL, price per share: 289.00 TL, increased by 1.40%.
Precious Metals and Currency Prices
- Gold: 4331 TL
- Silver: 49.79 TL
- Platinum: 1905 TL
- Dollar: 40.37 TL
- Euro: 46.96 TL
We look forward to bringing you the latest updates again tomorrow.
