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. 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 region 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 effect since 2021. Having surged to the $3,950 region with sharp increases, ETH has entered the trend zone. A breakout of this zone could lead to significant gains for Ethereum. In the event of a pullback, the $3,500 level will serve as support.
Crypto News
- Bitmine, which has attracted attention with its Ether purchases, will repurchase $1 billion of the company's shares.
- PUMPFUN will increase its token buybacks and allocate 100% of its daily revenue to buybacks.
- Standard Chartered: Companies buying ETH are just starting out. We expect this figure to increase tenfold from the current level. Their purchases could reach 10% of the ETH in circulation.
- eToro will launch tokenized US stocks on the Ethereum blockchain.
- The SEC has accepted an application to allow staking for the BlackRock Spot Ethereum ETF.
- Trump has given Russia 10 days to reach an agreement with Ukraine.
- BlackRock predicts the Federal Reserve will not cut interest rates tomorrow.
- *STRATEGY completed its $2.52 billion STRC IPO and used the proceeds to purchase 21,021 Bitcoin for $117,256.
- The SEC has approved Bitcoin and Ethereum spot ETFs to be traded in crypto instead of cash.
Cryptocurrencies
Top Gainers:
- IOTX → Up 15.8% to $0.02659086
- XDC → Up 8.2% to $0.0989487
- B → Up 8.0% to $0.50341485
- QUBIC → Up 6.1% to $0.00000253
- SUN → Up 2.6% to $0.02175535
Top Losers:
- CFX → Down 26.0% to $0.19509564
- BONK → Down 13.0% to $0.00002836
- SYRUP → Down 12.7% to $0.44805721
- CKB → Down 12.4% to $0.00585109
- CVX → Down 11.8% to $4.19
Fear Index:
- Bitcoin: 74 (Greed)
- Ethereum: 57 (Greed)
Dominance:
- Bitcoin: 61.52% ▲ 0.08%
- Ethereum: 12.05% ▲ 0.43%
Total Daily Net ETF Inflows
- BTC ETFs: $80.00 Million
- ETH ETFs: $218.60 Million
Global Markets
Global markets are trading cautiously and sideways ahead of tonight's Fed interest rate decision and tomorrow's BOJ meeting. The Fed is not expected to change interest rates. While risk appetite weakened slightly, the VIX index rose to 15.98, indicating a slight increase in uncertainty. On the trade front, US Treasury Secretary Bessent stated that an agreement in principle has been reached with China to postpone tariffs, but that the final decision rests with Trump. He also stated that no new summit between Xi and Trump is planned, and that the 90-day period is merely an option.
Most Valuable Companies and Stock Prices
- NVIDIA (NVDA) → $4.28 trillion market capitalization, $175.51 per share, down 0.70%.
- Microsoft (MSFT) → $3.81 trillion market capitalization, $512.57 per share, up 0.01%.
- Apple (AAPL) → $3.16 trillion market capitalization, $211.27 per share, down 1.30%.
- Amazon.com (AMZN) → $2.45 trillion market capitalization, $231.01 per share, down 0.76%.
- Alphabet (GOOG) → of $2.37 trillion market capitalization, $196.43 per share, up 1.56%.
Borsa Istanbul
According to TURKBESD data, domestic sales of white goods decreased by 8%, production by 8%, and exports by 5% in the first half of the year. The sector continues to weaken. While the BIST-100 has returned to the 10,500 level, the announced balance sheets generally signal weakness. The June unemployment rate and the July economic confidence index will be released today. The market is focusing on the CPI data to be released next week. A sideways trend is expected on the BIST today.
Companies with the Highest Market Capitalization on Borsa Istanbul
- QNB Finansbank (QNBTR) → With a market capitalization of $1.4 trillion and a per-share price of $458.50, it saw a 9.95% increase.
- Aselsan Electronics Industries (ASELS) → Market value of 817.61 billion TL, price per share of 178.9 TL, decreased by 0.22%.
- Turkey Garanti Bank (GARAN) → Market value of 583.8 billion TL, price per share of 141.0 TL, increased by 1.44%.
- Koç Holding A.Ş. (KCHOL) → Market value of 431.36 billion TL, price per share of 174.6 TL, increased by 2.65%.
- Turkish Airlines Inc. (THYAO) → Market value of 393.64 billion TL, price per share of 288.25 TL, increased by 1.05%.
Precious Metals and Currency Prices
- Gold: 4,335 TL
- Silver: 49.69 TL
- Platinum: 1,811 TL
- Dollar: 40.57 TL
- Euro: 46.92 TL
We look forward to bringing you the latest updates again tomorrow.
