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 above this level. On the downside, the key support level stands at $111,800. In a potential upward move, the trend resistance near the $122,000 region could be the next target.
Ethereum has broken out of the short-term parallel channel structure and is currently trading in the downtrend zone that has been in effect since 2021. After a sharp rally toward the $3,950 region, ETH has entered this trend zone. A breakout here could pave the way for notable gains. In the event of a pullback, the $3,500 level is expected to serve as support.
Crypto News
- UAE credit institution RAKBANK will begin offering crypto services to its retail customers through Bitpanda.
- Invesco Galaxy has applied for the Solana ETF with the CBOE.
- Interactive Brokers, a brokerage firm with $600 billion in client assets, is considering introducing 24/7 stablecoin and cryptocurrency deposits into its investment accounts.
- Trump: Powell will be gone soon. I will miss him.
- PayPal allows US businesses to accept payments in more than 100 cryptocurrencies.
- Financial firm Mill City Ventures will acquire $441 million worth of $SUI tokens, transitioning to a crypto treasury strategy.
- The strategy firm made no new Bitcoin purchases last week.
Cryptocurrencies
Top Gainers:
- CFX → Up 38.3% to $0.25899976
- ZBCN → Up 20.0% to $0.00508004
- KTA → Up 12.2% to $1.21
- CKB → Up 10.7% to $0.00657596
- QUBIC → Up 10.1% to $0.00000245
Top Losers:
- TKX → Down 37.5% to $5.77
- USELESS → Down 17.4% to $0.32020474
- CVX → Down 15.5% to $4.75
- FARTCOIN → Down 14.8% to $1.18
- PUMP → Down 12.6% to $0.00241791.
Fear Index:
- Bitcoin: 74 (Greed)
- Ethereum: 63 (Greed)
Dominance:
- Bitcoin: 61.52% ▲ 0.19%
- Ethereum: 11.90% ▼ 0.68%
Total Daily Net ETF Inflows
- BTC ETFs: $157.10 Million
- ETH ETFs: $65.20 Million
Global Markets
Global risk appetite started the week cautiously. Trump's 15% tariff announcement against the EU created short-term market activity, but its impact was limited. US futures are slightly higher this morning. Markets remain cautious ahead of tomorrow's Fed and Thursday's BOJ interest rate decisions.
As the critical August 1st deadline approaches, the US's extension of the tariff ceasefire with China and the start of a third round of talks are easing trade uncertainty. Although markets opened strongly yesterday following the agreement with the EU, they closed slightly lower due to criticism from European leaders. The VIX index remains low at 15.03.
Today, US consumer confidence, housing prices, and job openings will be monitored. The ECB's June Consumer Expectations Survey will also be released.
Most Valuable Companies and Stock Prices
- NVIDIA (NVDA) → $4.31 trillion market capitalization, $176.75 per share, up 1.87%.
- Microsoft (MSFT) → $3.81 trillion market capitalization, $512.50 per share, down 0.24%.
- Apple (AAPL) → $3.2 trillion market capitalization, $214.05 per share, increased by 0.08%.
- Amazon.com (AMZN) → $2.47 trillion market capitalization, $232.79 per share, increased by 0.58%.
- Alphabet (GOOG) → $2.33 trillion market capitalization, $193.42 per share, decreased by 0.34%.
Borsa Istanbul
July sectoral inflation expectations were announced. 12-month ahead inflation expectations fell to 23.4% among market participants and 39% in the real sector, while household expectations rose to 54.5%. According to TİM's June report, the export demand index decreased by 0.6% month-on-month and 0.5% year-on-year to 99.8, remaining below the long-term average. The BIST100 index closed down 0.9% yesterday, driven by sales in banking, defense, aviation, and holding stocks. In a week marked by financial statements, Tofaş and Medikal Park reported net profits above expectations, while Türk Traktör increased its profit despite weak results. Results from Akbank, Tüpraş, Aygaz, TAV, and Otokar will be released today. The BIST100 is expected to open the day with a slight gain, in line with international markets.
Companies with the Highest Market Value on Borsa Istanbul
- QNB Finansbank (QNBTR) → Market capitalization of 1.31 trillion TL, price per share of 400.00 TL, increased by 2.56%.
- Aselsan Elektronik Sanayi (ASELS) → Market capitalization of 826.73 billion TL, price per share of 178.2 TL, decreased by 1.71%.
- Türkiye Garanti Bankası (GARAN) → Market capitalization of 576.24 billion TL, price per share of 138.9 TL, increased by 1.24%.
- Koç Holding A.Ş. (KCHOL) → Market capitalization of 432.37 billion TL, price per share of 171.2 TL, increased by 0.41%.
- Enka İnşaat ve Sanayi A.Ş. (ENKAI) → Market capitalization: 405.64 billion TL, price per share: 67.10 TL, decreased by 3.03%.
Precious Metals and Currency Prices
- Gold: 4326 TL
- Silver: 49.81 TL
- Platinum: 1803 TL
- Dollar: 40.57 TL
- Euro: 47.03 TL
We look forward to bringing you the latest updates again tomorrow.
