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, which has maintained its volatility since last week, continued its upward trend over the weekend, closing on Sunday, expected to be stable, at $109,200. The $108,900 resistance level is a key threshold at this point. As long as the price remains above this level, it will aim to break above the $110,600 high. However, as seen yesterday, it failed to hold above the $108,900 resistance level and retreated to the $107,300 support level. For now, we can say it has found support in this region. A loss of this support could push the price to the $106,300 support level and then to the $104,900 support level. In an upside scenario, if the $111,920 high is broken, the first targets after the new ATH will be $114,000 and $120,000.
Ethereum, following Bitcoin's lead, finished last week with a surge in volume. Looking at ETH from a broader perspective, we observe that it continues to trade within a range. The $2,465 level plays a key role in this. After last week's significant surge, the price holding above this level is a positive sign. It is also trading in a critical area in the short term. The $2,595–$2,550 area represents a broad resistance area. We have reached the $2,600 target we outlined in previous newsletters. However, if this level is breached, the price could rise to the $2,700 region.
Crypto News
- Trump: Lower interest rates, Jerome, now is the time!
- The US House of Representatives announced that it is "taking historic steps to ensure the United States remains the crypto capital."
- Truth Social filed an S-1 for its Crypto Blue Chip ETF.
- Robinhood has begun discussions with regulators regarding tokenized stocks.
Cryptocurrencies
Top Gainers:
- BANANAS31 → Up 31.2% to $0.02028966
- MOG → Up 17.0% to $0.00000113
- ZBCN → Up 16.9% to $0.00299969
- CRO → Up 15.1% to $0.09309514
- SPX → Up 13.4% to $1.41
Top Losers:
- TKX → Down 11.6% to $13.95
- BONK → Down 7.1% to $0.00002186
- IP → Down 3.3% to $3.01
- SYRUP → Down 2.1% to $0.50968788
- FARTCOIN → Down 2.0% to $1.06
Fear Index:
- Bitcoin: 67 (Greed)
- Ethereum: 59 (Greed)
Dominance:
- Bitcoin: 65.01% ▼ 0.09%
- Ethereum: 9.46% ▼ 0.24%
Total Daily Net ETF Inflows
- BTC ETFs: $75.30 Million
- ETH ETFs: $29.50 Million
Global Markets
Global risk appetite is balanced. Markets remain directionless due to conflicting statements from the US. While there is talk that the tariff period, which was extended from July 9 to August 1, may be relaxed again, President Trump's statement that there will be no extension has dampened morale. However, it is thought that this process is still subject to negotiation and new exemptions may be introduced. US futures are trading sideways this morning. With the tariff extension extended, markets focused on negotiations. The VIX index fell 1 point to 16.8, indicating a recovery in risk appetite. Meanwhile, according to a New York Fed survey, short-term inflation expectations in the US fell to 3%. 3- and 5-year expectations remained stable.Today, MBA mortgage applications and Fed minutes will be watched in the US, while CPI data will be watched in Mexico and Russia.
Most Valuable Companies and Stock Prices
- NVIDIA (NVDA) → $3.90 trillion market capitalization, $160.00 per share, up 1.11%
- Microsoft (MSFT) → $3.69 trillion market capitalization, $496.62 per share, down 0.22%
- Apple (AAPL) → $3.14 trillion market capitalization, $210.01 per share, up 0.03%
- Amazon (AMZN) → $2.33 trillion market capitalization, $219.36 per share, down 1.84%,
- Alphabet (GOOG) → $2.12 trillion market capitalization, $175.16 per share, down 1.35%
Borsa Istanbul
Domestically, the Treasury raised a total of 48.3 billion TL through 7- and 9-year bond auctions. A 7-year variable-rate bond with a 22% periodic interest rate drew bids totaling 32.8 billion TL, while a 9-year fixed-coupon bond with a 31.55% compound interest rate resulted in 9.84 billion TL in sales.According to a decision published in the Official Gazette, the withholding tax rate was increased to 17.5% for deposits with maturities up to six months, and to 15% for those up to one year. These changes are expected to create short-term volatility in Turkish Lira assets.As selling pressure persisted in the markets, the benchmark bond yield climbed to 40%, while the 5-year CDS spread rose to 290 basis points. Despite the resilience shown by banks, the BIST-100 index closed the day below the 10,000 mark with a loss of over 1%.Second-quarter bank earnings showed a decline in net interest margin, while commission income rose and provisioning expenses remained contained. Overall profitability stayed in line with the previous quarter. With no major data releases scheduled for today, we expect the BIST to stabilize around the 10,000 level.
Companies with the Highest Market Value on Borsa Istanbul
- QNB Finansbank (QNBTR) → Market capitalization of 894.45 billion TL, price per share of 273.00 TL, increased by 2.25%
- Aselsan Elektronik Sanayi (ASELS) → Market capitalization of 689.93 billion TL, price per share of 152.2 TL, increased by 0.59%
- Türkiye Garanti Bankası (GARAN) → Market capitalization of 572.88 billion TL, price per share of 137.3 TL, increased by 0.66%
- Koç Holding A.Ş. (KCHOL) → Market capitalization of 397.38 billion TL, price per share of 154.9 TL, decreased by 1.15%
- Türk Hava Yolları A.O. (THYAO) → Market capitalization: 396.75 billion TL, price per share: 280.50 TL, decline: 2.43%
Precious Metals and Currency Prices
- Gold: 4,236 TL
- Silver: 47.09 TL
- Platinum: 1,741 TL
- Dollar: 40.04 TL
- Euro: 46.94 TL
We look forward to bringing you the latest updates again tomorrow.
