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.
Bitcoin is starting the new week within the accumulation zone. As highlighted in our previous newsletters, the $117,900 level remains a key threshold, with the price continuing to hover around this area. On the downside, $111,800 stands out as the major support level. If upward momentum gains strength, the trend resistance at $122,000 could come into play.
Ethereum, on the other hand, has broken out of its short-term parallel channel and is now trading within the broader downtrend zone that has persisted since 2021. After a sharp rally toward the $3,800 region, ETH has moved into this zone. A breakout here could pave the way for a significant upward move. In the event of a retracement, the $3,500 level is expected to act as support.
Crypto News
• Cryptocurrency prediction market Polymarket considers launching its stablecoin.
• Trump announces he's considering repealing capital gains tax.
• US Treasury Secretary Bessent: The FED must lower interest rates now.
• Trump: We need interest rate cuts now.
• The FBI concluded its ınvestigation of Kraken's founder and returned seized devices.
• Sharplink Gaming announced purchasing 79,949 $ETH last week.
• Western Union CEO says the bank ıs considering offering stablecoin products to its customers in digital wallets.
• Elon Musk's SpaceX company transferred $152 million in Bitcoin for the first time in three years.
• $MIU coin listed on BitMart exchange.
Cryptocurrencies
Top Gainers:
- USELESS → Up 20.8% to $0.33583496
- PENGU → Up 20.1% to $0.04420484
- REKT → Up 18.1% to $0.71302933
- FLR → Up 16.2% to $0.02452084
- MOG → Up 14.5% to $0.00000174
Top Losers:
- CFX → Down 12.8% to $0.18170283
- KET → Down 4.2% to $0.29333068
- JUP → Down 4.2% to $0.62018807
- KAITO → Down 3.3% to $1.62
- PI → Down 3.0% to $0.47386023
Fear Index:
- Bitcoin: 73 (Greed)
- Ethereum: 62 (Greed)
Dominance:
- Bitcoin: 60.82% ▼ 0.16%
- Ethereum: 11.58% ▲ 0.37%
Total Daily Net ETF Inflows
- BTC ETFs: -$68.00 Million
- ETH ETFs: $533.80 Million
Global Markets
We start the new day with reports that the U.S. has reached or initiated trade negotiations with several Asian countries. Notably, the agreement with Japan and the decision to lower automobile tariffs from 25% to 15% stand out. These developments fueled a gain of over 3% on the Tokyo Stock Exchange. Ongoing discussions with the Philippines, Indonesia, and China are also lending support to regional stock markets. Meanwhile, U.S. and European futures are trading in positive territory this morning.
Optimism around trade agreements is boosting risk appetite across markets. Reflecting this sentiment, the VIX volatility index has declined to 16.5, hovering near its July average.
Most Valuable Companies and Stock Prices
- NVIDIA (NVDA) → $4.08 trillion market capitalization, $167.03 per share, down 2.54%.
- Microsoft (MSFT) → $3.76 trillion market capitalization, $505.27 per share, down 0.94%.
- Apple (AAPL) → $3.2 trillion market capitalization, $214.40 per share, up 0.90%.
- Amazon (AMZN) → $2.41 trillion market capitalization, $227.47 per share, down 0.80%.
- Alphabet (GOOG) → $2.32 trillion market capitalization, $192.11 per share, up 0.50%.
Borsa Istanbul
Yesterday, the Treasury issued $5.35 billion in one-year dollar-denominated government bonds and $463.6 million in lease certificates. This brought total borrowing in July to approximately 494 billion Turkish Lira. This month, 376.4 billion Turkish Lira was planned for domestic borrowing, compared to 316.6 billion Turkish Lira for domestic debt payments.
The July Consumer Confidence Index will be released today. The index had increased in the last two months to 85.1, but it is still below its long-term average.
The BIST-100 closed flat yesterday due to bank sales. Investors are reviewing their positions ahead of the Central Bank of the Republic of Turkey (CBRT) interest rate decision, scheduled for Thursday, and the Fitch and Moody's reports expected on Friday. Next week, the August 4th inflation data will be the focus. We expect the index to trend sideways today.
Companies with the Highest Market Value on Borsa Istanbul
- QNB Finansbank (QNBTR) → Market capitalization of 1.34 trillion TL, price per share of 391.00 TL, decreased by 2.07%.
- Aselsan Elektronik Sanayi (ASELS) → Market capitalization of 806.21 billion TL, price per share of 176.5 TL, decreased by 0.17%.
- Türkiye Garanti Bankası (GARAN) → Market capitalization of 600.6 billion TL, price per share of 139.4 TL, decreased by 2.52%.
- Koç Holding A.Ş. (KCHOL) → Market capitalization: 438.2 billion TL, price per share: 173.0 TL, increased by 0.12%.
- Turkish Airlines Inc. (THYAO) → Market capitalization: 405.72 billion TL, price per share: 297.25 TL, increased by 1.11%.
Precious Metals and Currency Prices
- Gold: 4444 TL
- Silver: 51.05 TL
- Platinum: 1880 TL
- Dollar: 40.44 TL
- Euro: 47.47 TL
We look forward to bringing you the latest updates again tomorrow.
