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 in the accumulation zone. We mentioned the importance of the $117,900 level in our previous newsletters. It continues to trade in this area. In a downside scenario, the major support level appears to be $111,800. In an upward movement, the trend resistance level located in the $122,000 area could be targeted.
Ethereum has broken upwards from the short-term parallel channel structure and is currently trading in the downtrend zone that has been in place since 2021. Having surged to the $3,800 region with sharp increases, ETH has entered the trend zone. A breakout of this zone could indicate significant upward movement for Ethereum. In the event of a pullback, the $3,500 level will act as support.
Crypto News
- Tether printed $1 billion worth of USDT.
- SharpLink Gaming purchased $295 million worth of ETH, bringing its total ETH holdings to 438,000.
- Upbit will list OP.
- Trump: The EU has agreed to allow countries to trade duty-free.
- Trump: We have reached an agreement with the EU.
- BNB broke a new record, exceeding $820.
- The US and China agreed to freeze tariffs for another 90 days.
- Rick Rieder, CIO of BlackRock, which manages $11.5 trillion in assets, called for the US Federal Reserve (Fed) to lower interest rates.
Cryptocurrencies
Top Gainers:
- KTA → Up 17.1% to $1.09
- CAKE → Up 16.9% to $3.29
- TRIBE → Up 16.1% to $0.60263769
- ORDI → Up 15.9% to $11.83
- SPX → Up 14.4% to $2.25
Top Losers:
- REKT → Down 14.5% to $0.97120098
- GLM → Down 11.9% to $0.29879452
- TKX → Down 7.8% to $9.21
- CVX → Down 7.4% to $5.59
- CRV → Down 4.4% to $1.03
Fear Index:
- Bitcoin: 74 (Greed)
- Ethereum: 61 (Greed)
Dominance:
- Bitcoin: 60.82% ▼ 0.34%
- Ethereum: 12.07% ▲ 0.56%
Total Daily Net ETF Inflows
- BTC ETFs: $130.80 Million
- ETH ETFs: $452.80 Million
Global Markets
Global markets are starting the week with optimism generated by the 15% tariff agreement reached between the US and the EU. The agreement boosts risk appetite as it prevents higher tariffs expected to take effect on August 1st. US and European futures are slightly positive. The VIX index fell to 14.93, nearing its lowest levels this year.
This week, global markets will be closely watching Fed and Bank of Japan interest rate decisions, with no change expected in interest rates. PCE, nonfarm payrolls, and ISM manufacturing data will be released in the US, while the Eurozone CPI will be the leading indicator. Domestically, June external balance, unemployment, and ISO Manufacturing PMI data will be released.
Most Valuable Companies and Stock Prices (Based on Data in the Image)
- NVIDIA (NVDA) → $4.23 trillion market capitalization, $173.50 per share, decreased by 0.14%.
- Microsoft (MSFT) → $3.82 trillion market capitalization, $513.71 per share, increased by 0.55%.
- Apple (AAPL) → $3.19 trillion market capitalization, $213.88 per share, increased by 0.06%.
- Amazon.com (AMZN) → $2.46 trillion market capitalization, $231.44 per share, decreased by 0.34%.
- Alphabet (GOOG) → $2.34 trillion market capitalization, $194.08 per share, increased by 0.46%.
Borsa Istanbul
Moody's upgraded Turkey's credit rating from "B1" to "Ba3" and lowered the outlook from "positive" to "stable." Fitch affirmed Turkey's credit rating at "BB-" and kept its outlook unchanged. Inflation is expected to decline to 28% by the end of 2025 and 21% by the end of 2026, while growth is expected to be 2.9% in 2025, 3.5% in 2026, and 4.2% in 2027.
Friday evening's rating upgrade could inject some balanced optimism into the new week. Sectoral inflation expectations will be released today. Bank balance sheets will be a key factor in the market starting Wednesday. The tariff agreement between the US and the EU also supports risk appetite. July inflation data, to be released on August 4th, will be a key focus in the second half of the week. The BIST-100 struggled to hold above 10,700 last week, and cautious buyers are expected to start the new week.
Companies with the Highest Market Value on Borsa Istanbul
- QNB Finansbank (QNBTR) → Market capitalization of 1.26 trillion TL, price per share of 380.25 TL, increased by 1.00%.
- Aselsan Elektronik Sanayi (ASELS) → Market capitalization of 835.39 billion TL, price per share of 180.0 TL, decreased by 1.75%.
- Türkiye Garanti Bankası (GARAN) → Market capitalization of 588 billion TL, price per share of 139.0 TL, decreased by 0.71%.
- Koç Holding A.Ş. (KCHOL) → Market capitalization of 441.5 billion TL, price per share of 172.7 TL, decreased by 0.80%.
- Enka Construction and Industry Inc. (ENKAI) → Market capitalization: 405.35 billion TL, price per share: 68.60 TL, down 0.80%.
Precious Metals and Currency Prices
- Gold: 4347 TL
- Silver: 49.87 TL
- Platinum: 1840 TL
- Dollar: 40.54 TL
- Euro: 47.64 TL
We look forward to bringing you the latest updates again tomorrow.
