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 entered a natural correction period after the ATH. Having lost support in the $117,000 region, BTC is currently trading around $115,000. The CME gap around $114,000 has not yet closed, and we see the price moving in this direction. The broad range of $111,000-$114,000 represents a significant support area. Support found in this area could re-target the $118,000 region.
Ethereum, on the other hand, is holding strong despite Bitcoin's decline and even gaining upward momentum. As mentioned earlier, ETH, which is trading within a broad resistance area, continues to trade in this region.
Crypto News
- The Central Bank of the Republic of Turkey lowered its policy rate from 46% to 43%.
- The European Central Bank left the rate unchanged (it was expected to remain unchanged).
- Bank of America announced that many banks are preparing to launch their stablecoins.
- MicroStrategy has updated its capital raising plan for Bitcoin acquisitions. The company has raised its previously announced $500 million fundraising target to $2 billion. With this increase, MicroStrategy is reportedly aiming to further expand its Bitcoin investments.
- The TON Foundation and Kingsway Capital are planning a $400 million capital raise for the Toncoin treasury.
- Tether printed $2 billion in USDT.
- Trump: I want interest rates lowered and the Fed building completed.
Cryptocurrencies
Top Gainers:
- SYRUP → Up 21.8% to $0.5877799
- ENA → Up 14.5% to $0.52252511
- EUL → Up 11.6% to $12.18
- B → Up 9.7% to $0.60461203
- AXL → Up 9.7% to $0.41296338
Top Losers:
- M → Down 18.7% to $0.36242166
- PUMP → Down 15.1% to $0.00258837
- TKX → Down 10.5% to $9.63
- TEL → Down 6.5% to $0.00593213
- PENGU → Down 6.5% to $0.03746343.
Fear Index:
- Bitcoin: 71 (Greed)
- Ethereum: 60 (Greed)
Dominance:
- Bitcoin: 61.58% ▼ 0.38%
- Ethereum: 11.74% ▼ 0.11%
Total Daily Net ETF Inflows
- BTC ETFs: $226.70 Million
- ETH ETFs: $231.20 Million
Global Markets
Global markets are balanced this morning. Price action remains limited due to the lack of significant new news. Tariff concerns eased, while the VIX index remained flat at 15.4. The MSCI World Index rose 0.2%, reaching a new high, closing higher for the seventh consecutive day, driven by a moderate rise in US and European stock markets. The US July composite PMI rose to 54.6, buoyed by strength in the services sector. The services index rose to 55.2, while the manufacturing PMI came in at 49.5, below expectations. Companies remain concerned about federal spending cuts and tariffs. Business confidence weakened in both sectors. Jobless claims fell short of expectations at 217,000, supporting the positive employment outlook.
Most Valuable Companies and Stock Prices
- NVIDIA (NVDA) → $4.24 trillion market capitalization, $173.74 per share, up 1.73%.
- Microsoft (MSFT) → $3.8 trillion market capitalization, $510.88 per share, up 0.99%.
- Apple (AAPL) → $3.19 trillion market capitalization, $213.76 per share, down 0.18%.
- Amazon.com (AMZN) → $2.47 trillion market capitalization, $232.23 per share, increased 1.73%.
- Alphabet (GOOG) → $2.34 trillion market capitalization, $193.20 per share, increased 0.88%.
Borsa Istanbul
The Central Bank of the Republic of Turkey (CBRT) cut its policy rate by 300 basis points to 43%, exceeding expectations. Overnight lending and borrowing rates were also reduced by the same amount. Following this move, the BIST-100 index rose 1%, and Turkey's CDS premium fell below 280 basis points. Domestically, the capacity utilization rate, real sector, and sectoral confidence indices will be released today. Moody's and Fitch's credit rating assessments will also be monitored. While the external climate remains calm, we expect the BIST to maintain its upward trend.
Companies with the Highest Market Value on Borsa Istanbul
- QNB Finansbank (QNBTR) → Market capitalization of 1.34 trillion TL, price per share of 400.25 TL, changed by 0.00%.
- Aselsan Elektronik Sanayi (ASELS) → Market capitalization of 832.66 billion TL, price per share of 185.8 TL, increased by 1.75%.
- Türkiye Garanti Bankası (GARAN) → Market capitalization of 586.74 billion TL, price per share of 139.6 TL, decreased by 0.07%.
- Koç Holding A.Ş. (KCHOL) → Market capitalization of 444.29 billion TL, price per share of 173.6 TL, decreased by 0.91%.
- Turkish Airlines Inc. (THYAO) → Market capitalization of 408.48 billion TL, price per share of 294.50 TL, decreased by 0.51%.
Precious Metals and Currency Prices
- Gold: 4,372 TL
- Silver: 50.76 TL
- Platinum: 1,834 TL
- Dollar: 40.55 TL
- Euro: 47.65 TL
We look forward to bringing you the latest updates again tomorrow.
