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Bitcoin Price Surpasses $118,000: Major Liquidation Occurs
Bitcoin (BTC) surged 5% early Friday morning, surpassing $118,000 to reach an all-time high. Rising interest from institutional investors and strong inflows into spot Bitcoin ETFs are among the primary drivers of this Bitcoin record. In the last 24 hours, the price of Bitcoin has climbed to $118,254, while Ethereum (ETH) also rose 7% to $3,000. The $1.18 billion inflow into spot Bitcoin ETFs on Thursday, in particular, marked the second-highest daily inflow since the launch of these products.BTSE COO Jeff Mei stated that Bitcoin's new high could be the start of a major bull run. Vincent Liu, chief investment officer at Kronos Research, stated that a calmer macroeconomic environment and increasing institutional adoption are leading investors back into BTC. Liu also stated that the perception of Bitcoin as a "gold-like, long-term regulated asset" has reinforced institutional confidence.Presto Research analyst Min Jung also emphasized that expectations of a US interest rate cut and institutional investors' risk appetite are driving the increased demand for ETFs. Jung said, "We are observing more institutional investors, led by companies like Strategy, incorporating Bitcoin into their strategic asset allocations. The easier access provided by ETF approvals supports this expanding demand base."Many investors liquidated with the price increaseHowever, Bitcoin's rise wasn't limited to institutional inflows. A large wave of liquidations also occurred on the futures side. According to JrKripto's liquidation data, $1.26 billion worth of positions were liquidated in the last 24 hours, $1.11 billion of which came from short positions. This was the largest short liquidation so far in 2025. The largest liquidation occurred in a $88.5 million short position opened on the HTX exchange in the BTC-USDT pair. According to data, a total of 237,000 investors liquidated in this wave. Bybit led the way with $461 million in liquidations, followed by Binance and HTX. More than 92% of positions on Bybit were short. In leveraged trading, short positions are automatically closed when prices rise, which can create a domino effect that further accelerates the rise. Indeed, the recent price jump demonstrated the impact of this mechanism.Meanwhile, the US CPI data, due in mid-July, and expectations for an interest rate cut will be decisive for the market. According to analysts, the decline in macroeconomic uncertainty is increasing interest in crypto assets. Proposed legislation such as the GENIUS Act and the removal of restrictions on crypto broker taxes are seen as particularly positive for the market.
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11 Jul 2025
MOVE Comments and Price Analysis July 10, 2025
Move Technical Analysis$8 million MOVE has been unlocked today, which raises concerns as to whether it will have an effect on the price. This unlock was realized when the price was trading at a key support area. As a result, it is important to read the analysis below. MOVE signaled a strong price recovery to the level of $0.20 recently, yet this momentum could not carry on and the price was rejected from the resistance zone which intersected the downtrend. The price is again at the $0.1453 support and trying to hold at the lower boundary of the trend, and this zone previously worked as a strong support. However, the current price poses a risk of sell pressure as it is below MA50 and MA200 along with a death cross.The price may pull back to the support $0.1346 if this sell pressure goes on. This level is of great importance for the price. If broken downwards, the sell pressure is likely to increase, and then the price may go down to the levels $0.1200 and $0.1050 respectively. In terms of upward movements, $0.1560 would be the first resistance level the price will face. If broken upwards, the price may go up and test $0.1666 again. However, the price must close above $0.18 if the trend should change permanently.These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
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10 Jul 2025
Famous Crypto Miner Changes Course: Will Establish a Solana Treasury!
Crypto mining company BIT Mining has made a radical shift in its operations, shifting its focus to the Solana (SOL) ecosystem. The New York Stock Exchange (NYSE)-listed company announced plans to gradually accumulate SOL by raising between $200 million and $300 million.BIT Mining to exchange all of its cryptocurrency to SolanaAccording to the company's press release, BIT Mining will convert all of its existing crypto assets to Solana and adopt a long-term holding strategy. It will also operate validator nodes on the Solana network, contributing to the network's decentralization and seeking to generate income from on-chain staking rewards.BIT Mining CEO Xianfeng Yang described this strategic move as "a bold entry into one of the most dynamic and promising ecosystems in the blockchain world." Yang stated in his statement: “We are embarking on this new path to adapt to the changing industry and generate lasting value. We believe that with our robust infrastructure and long-term vision, we will accelerate sustainable growth for our shareholders.”The company's current operations include custom hardware design and hosting services for Bitcoin, Litecoin, Dogecoin, and Ethereum Classic mining. BIT Mining, particularly notable for its 7nm Bitcoin mining chips, currently ranks 17th in market capitalization among publicly traded Bitcoin mining companies. Following the news, the company's share price (BTCM) gained over 250 percent in pre-market trading on Thursday. This move makes BIT Mining one of the latest companies to join the institutional crypto treasury race. This strategy, pioneered by MicroStrategy, involves companies including digital assets such as BTC, ETH, SOL, XRP, and BNB on their balance sheets. BIT Mining's choice of Solana distinguishes it from companies like Bit Digital and BitMine, which are making Ethereum-focused moves. Meanwhile, two other mining companies with the "Bit" prefix have shifted their focus to crypto treasury strategies in recent weeks. Nasdaq-listed Bit Digital has completely transitioned away from Bitcoin mining and begun accumulating ETH. The company recently raised $173 million in capital, bringing its Ethereum reserves to over 100,000. BitMine, meanwhile, set out to increase its ETH holdings 16-fold with a $250 million private placement. Fundstrat co-founder Tom Lee was among the investors, and Lee was also appointed chairman of BitMine's board of directors.BIT Mining's history is also noteworthy. In 2021, the company operated as 500.com, a China-based sports lottery service provider. At the time, the company was in the spotlight due to allegations of bribery against Japanese government officials. In April 2021, the company shifted its focus to crypto mining and changed its name. BIT Mining reached an agreement with the US Department of Justice and the SEC, agreeing to pay a total of $10 million in fines.
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10 Jul 2025
Daily Market Summary with JrKripto July 10, 2025
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.We can say that Bitcoin crowned its ongoing volume trend with a new all-time high. After breaking out of the previous trend, BTC decisively surpassed key resistance levels and reached a record high of $111,999, followed by a natural pullback. This movement successfully met the previously highlighted $111,800 target. Going forward, as long as Bitcoin holds above the $109,600 level, the positive sentiment is likely to persist. The next target lies in the $114,000 region.Following Bitcoin’s lead, Ethereum continues to push through major resistance levels. Holding above $2,700 would support this bullish outlook. If the $2,880 resistance is broken, the $3,000 zone will be the next target.Crypto NewsTrump announces 50% tariffs on BrazilCoinbase to list SKY and USDSThe SEC postponed in-kind refunds for the BlackRock Spot Ethereum ETFThe SEC approved in-kind redemptions for the Bitwise Bitcoin ETF Trust and Bitwise Ethereum ETFCircle enters into a USDC revenue-sharing agreement with ByBit, the second-largest crypto exchangeNvidia plans to launch a new AI chip specifically designed for China in SeptemberTrump: “Lower the interest rate.”Ripple will hold its $500 million reserve of $RLUSD crypto stablecoin with BNY MellonNvidia becomes the first company to reach a $4 trillion market capitalizationTrade Advisor Navarro: The Fed needs to lower interest rates in JulyCryptocurrenciesTop Gainers:M → Up 69.5% to $0.35883003PENGU → Up 23.9% to $0.01821681BANANAS31 → Up 22.5% to $0.02508994ZBCN → Up 20.8% to $0.00359288USELESS → Up 17.2% to $0.30264032Top Losers:TKX → Down 10.1% to $12.70VENOM → Down 2.1% to $0.22408004GRASS → Down 1.6% to $1.15MX → Down 1.3% to $2.41LEO → Down 1.2% to $8.99Fear Index:Bitcoin: 68 (Greed)Ethereum: 56 (Greed)Dominance:Bitcoin: 64.77% ▲ 0.02%Ethereum: 9.77% ▼ 0.09%Total Daily Net ETF Inflows:BTC ETFs: $215.70 MillionETH ETFs: $211.30 MillionGlobal MarketsWhile the Fed minutes reveal ongoing disagreements among members regarding interest rate cuts and inflation, U.S. President Trump has intensified his calls for a rate cut, this time proposing a reduction of up to 300 basis points.The tariff agenda has also regained momentum. After sending letters to 14 countries earlier this week, the U.S. extended similar communications yesterday to the Philippines, Brunei, Moldova, Algeria, Iraq, Libya, and Sri Lanka.Despite these developments, market reactions to the tariff announcements continue to fade. The VIX index fell by 0.9 points yesterday to 15.9, signaling a sustained recovery in risk appetite.In the Fed minutes, members expressed differing views on whether the inflationary effects of tariffs would be transitory or persistent. They emphasized that overall growth and employment remain strong, that monetary policy is currently sufficiently tight, and that further action will depend on more conclusive data.Most Valuable Companies and Stock PricesNVIDIA (NVDA) → $3.97 trillion market capitalization, $162.88 per share, up 1.80%Microsoft (MSFT) → $3.74 trillion market capitalization, $503.51 per share, up 1.39%Apple (AAPL) → $3.15 trillion market capitalization, $211.14 per share, up 0.54%Amazon (AMZN) → $2.36 trillion market capitalization, $222.54 per share, up 1.45%Alphabet (GOOG) → $2.15 trillion market capitalization, $177.66 per share, up 1.43%Borsa IstanbulDomestically, May industrial production data is set to be released today. In April, production declined by 3.1% month-on-month but posted a 12.5% year-on-year increase. Preliminary indicators suggest that the weak production trend persisted into May.Following a two-day decline, the BIST-100 index rebounded above the 10,000 mark yesterday, supported by buying interest in banking, holding companies, Tüpraş, and Turkish Airlines shares. This upward move was fueled by expectations of a rate cut at the Monetary Policy Committee (MPC) meeting scheduled for July 24th, alongside a generally optimistic tone in domestic markets.Treasury and Finance Minister Şimşek, who met with investors in London yesterday, remarked that reserves have strengthened and the risk of volatility in the Turkish Lira has diminished. In addition to industrial production data, markets will also closely watch President Erdoğan’s statements on Saturday. The upward momentum in the BIST is expected to continue today.Companies with the Highest Market Value on Borsa IstanbulQNB Finansbank (QNBTR) → 914.55 billion TL market capitalization, 281.00 TL per share, 2.93% increaseAselsan Elektronik Sanayi (ASELS) → 694.03 billion TL market capitalization, 149.7 TL per share, down 1.64%Türkiye Garanti Bankası (GARAN) → 576.66 billion TL market capitalization, 139.6 TL per share, 1.68% increaseKoç Holding A.Ş. (KCHOL) → 392.81 billion TL market capitalization, 160.3 TL per share, 3.49% increaseTürk Hava Yolları A.O. (THYAO) → Market capitalization: 387.09 billion TL, price per share: 286.75 TL, increased by 2.23%Precious Metals and Currency PricesGold: 4,278 TLSilver: 46.93 TLPlatinum: 1,744 TLDollar: 40.01 TLEuro: 47.05 TLWe look forward to bringing you the latest updates again tomorrow.
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10 Jul 2025
Trump's Interest Rate Cut Message Sparks Bitcoin
Bitcoin (BTC) surged following former US President Donald Trump's striking statements on interest rates. In a July 9th post, Trump stated that the Fed's current interest rates were "at least 300 basis points (bps) too high," arguing that delaying the rate cut would impose an additional $360 billion annual burden on the US economy. Just 30 minutes after this statement, the price of Bitcoin began to rise, quickly reaching $109,343. It then reached a record high of $112,000 on some exchanges. However, according to many platforms, it remained about $50 below the record high of $111,925.Trump's post created a ripple effect on the marketTrump's post on Truth Social created a ripple effect on the market. According to analysts, such an interest rate cut could lead to significant jumps not only in alternative assets like Bitcoin, but also in gold, stocks, and real estate prices. Macro analysis platform The Kobeissi Letter examined Trump's calculations in a detailed X (formerly Twitter) thread on the subject. Analysts noted that total US interest payments have reached $1.2 trillion over the last 12 months, emphasizing that this sharp interest rate cut could save approximately $174 billion in the short term, but its long-term consequences could pose risks to economic stability.According to Kobeissi, such an aggressive interest rate cut could cause a depreciation of over 10% in the US dollar, inflation exceeding 5%, and housing prices rising by up to 25%. However, in the short term, effects such as gold reaching $5,000, the S&P 500 index reaching 7,000 points, and oil exceeding $80 are also expected.Bitcoin surpasses $111,000; is a new record on the horizon?The technical momentum following Trump's statements caused the Bitcoin price to rise to $111,266 by the end of the day. While Bitcoin briefly broke records on exchanges like Binance, Coinbase, and Bitstamp, data providers like CoinGecko and CoinMarketCap indicate that the $112,000 peak, broken on May 22, has yet to be surpassed. Ethereum (ETH) also benefited from this upward trend. ETH gained 6% in the last 24 hours, reaching $2,795, its highest level in a month. Meanwhile, according to CoinGlass data, a total of $425 million in short positions were liquidated, highlighting the unexpected and powerful nature of the rally.Shares of publicly traded companies linked to Bitcoin also rose. MicroStrategy (MSTR) rose 4.4% to $414. Coinbase (COIN) shares saw a 5% increase, while Bitcoin mining companies MARA and Riot saw a nearly 6% increase.
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10 Jul 2025
Emirates Begins Flights with Cryptocurrency
Emirates, one of the world's leading airlines, is preparing to take a strong step into the world of cryptocurrencies. The company announced that it will offer its customers the opportunity to pay for flights and services with cryptocurrencies as of 2025. This important development was made official with the Memorandum of Understanding (MoU) signed between Emirates and global crypto platform Crypto.com on July 9.Emirates will start accepting cryptocurrency paymentsAs part of the agreement, it is planned to integrate Crypto.com Pay, Crypto.com's payment solution, into Emirates' global payment infrastructure. In this way, millions of Emirates customers will be able to carry out many transactions, from flight tickets to additional services, with Bitcoin, Ethereum and other cryptocurrencies. Adnan Kazim, Emirates' Vice President of Commercial Operations, stated that this step is a strategic decision to both modernize the customer experience and catch up with innovations in digital finance. Kazim said, “This strategic move reflects our goal of offering our customers more flexibility and payment options, in line with Dubai's vision of being a pioneer in financial innovation.”Dubai has been on its way to becoming the “crypto capital of the world” with the steps it has taken in the field of crypto and blockchain in recent years. This vision, supported by both legal regulations and private sector collaborations, has also been reinforced with the Emirates-Crypto.com partnership. Although no details were given on the subject, according to the statements made, this partnership will not only diversify payment options; it will also encourage the adoption of cryptocurrencies with extensive marketing campaigns.Crypto.com President and COO Eric Anziani emphasized in his statement that this MoU signed with Emirates is an important milestone for daily crypto usage. “Working with a globally influential partner like Emirates will give great momentum to the cryptocurrency sector. Thanks to this integration, both Crypto.com and Emirates will be able to offer truly innovative financial solutions to their customers,” he said.Emirates, which currently serves 148 airports in 80 countries, is preparing to become one of the pioneers in the travel and aviation sector that accepts cryptocurrency payments with this move. Crypto integration, which we have previously seen in sectors such as real estate and telecommunications, is now spreading to traditional sectors such as airline transportation.
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9 Jul 2025
Daily Market Summary with JrKripto July 9, 2025
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 NewsTrump: 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.CryptocurrenciesTop Gainers:BANANAS31 → Up 31.2% to $0.02028966MOG → Up 17.0% to $0.00000113ZBCN → Up 16.9% to $0.00299969CRO → Up 15.1% to $0.09309514SPX → Up 13.4% to $1.41Top Losers:TKX → Down 11.6% to $13.95BONK → Down 7.1% to $0.00002186IP → Down 3.3% to $3.01SYRUP → Down 2.1% to $0.50968788FARTCOIN → Down 2.0% to $1.06Fear Index:Bitcoin: 67 (Greed)Ethereum: 59 (Greed)Dominance:Bitcoin: 65.01% ▼ 0.09%Ethereum: 9.46% ▼ 0.24%Total Daily Net ETF InflowsBTC ETFs: $75.30 MillionETH ETFs: $29.50 MillionGlobal MarketsGlobal 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 PricesNVIDIA (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 IstanbulDomestically, 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 IstanbulQNB 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 PricesGold: 4,236 TLSilver: 47.09 TLPlatinum: 1,741 TLDollar: 40.04 TLEuro: 46.94 TLWe look forward to bringing you the latest updates again tomorrow.
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9 Jul 2025
Three Companies Take Action: Bitcoin, Solana, and Ethereum Race Heats Up
Various companies continue to contribute to the cryptocurrency investment trend of 2025. In particular, companies such as KULR Technology Group, Upexi and SharpLink Gaming have begun to adopt leading cryptocurrencies such as Bitcoin, Solana and Ethereum as strategic investment tools in corporate treasury management. Here are the latest moves by these companies...KULR Technology takes a new step with Bitcoin-based loanKULR Technology Group, which offers thermal management solutions and develops security-focused systems especially for lithium-ion batteries, announced that it has provided a $20 million loan facility through Coinbase Credit. This loan will be used to support the company's Bitcoin accumulation strategy and a portion of its existing BTC assets will be shown as collateral.KULR CEO Michael Mo stated that this agreement provides an undiluted capital source for the company and that they have taken an important step towards diversifying their financial resources in order to achieve their long-term growth goals. KULR currently owns 920 BTC and purchased these assets at an average of $98,760. This means that the BTCs acquired at a total cost of approximately $91 million have reached approximately $100 million at current prices, providing a paper profit of approximately $9 million.Upexi, focused on Solana, expands its treasury strategyUpexi, which has placed Solana at the center of its corporate treasury, increased the amount of SOL it holds to 735,692 as of the end of June. This means an increase of 8.2% compared to the previous month. Considering that the SOL price is around $151, Upexi's SOL assets are worth approximately $111 million.Upexi CEO Allan Marshall stated that the company acquired options traded on Nasdaq in June, announced its intention to tokenize its stocks, and joined Webull's Corporate Connect platform. It also announced that they earned an 8% return on their existing SOL assets.SharpLink Gaming's Ethereum moveSports betting company SharpLink Gaming, on the other hand, draws attention with its Ethereum-focused strategy. The company has purchased 7,689 ETH between June 28 and July 4, bringing its total Ethereum holdings to 205,634 ETH. The total value of these ETHs exceeds $533 million. The company has directed all of its ETH assets to staking and retaking transactions, and has thus far won 322 ETH rewards worth approximately $848,000. In addition, SharpLink recently sold 5.4 million shares, generating $64 million in revenue, and announced that it will use most of this revenue for Ethereum purchases. In other words, the company has adopted a treasury strategy based entirely on Ethereum.The Bitcoin accumulation strategy led by MicroStrategy is no longer limited to just BTC. While the number of companies turning to alternative blockchain networks such as Ethereum and Solana is increasing, we see that institutional investors are becoming more familiar with different coins with this trend.
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9 Jul 2025
Trump's Company Files with SEC for ETF Covering Bitcoin and 4 Altcoins
Trump Media & Technology Group’s social media platform Truth Social has taken another big step into the cryptocurrency market. The company has filed a formal application with the U.S. Securities and Exchange Commission (SEC) for a new exchange-traded fund (ETF) called the “Crypto Blue Chip ETF.” The ETF is planned to consist of five major crypto assets: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cronos (CRO), and Ripple (XRP). Truth Social has filed an ETF applicationAccording to the preliminary prospectus submitted by Truth Social, the fund’s asset allocation will be as follows: 70% BTC, 15% ETH, 8% SOL, 5% CRO, and 2% XRP. This allocation aims to offer significant exposure not only to Bitcoin but also to other major altcoins, unlike traditional crypto investment funds. The fund’s digital asset custody operations will be handled by Foris DAX Trust Company, which is affiliated with Crypto.com.This application is not Truth Social's first move in the crypto ETF space. As you may recall, the company also applied for a spot ETF focused solely on Bitcoin in June. Then came a second application for a Bitcoin-Ethereum combined ETF that also included Ethereum. The sponsor of all these products is digital asset management firm Yorkville America Digital. The ETF shares are planned to be traded on the NYSE Arca exchange.Truth Social's ETF application reveals not only the company's strategic vision, but also the Trump administration's positive approach to crypto assets. In fact, the SEC is expected to have a crypto-friendly attitude compared to the previous Biden administration in the current period. For this reason, it is thought that Truth Social's applications may be concluded more quickly and positively.ETF applications for many altcoins await approvalIn addition, Truth Social's ETF initiative is not alone. Major asset managers such as Bitwise, Grayscale, Franklin Templeton and REX Shares have also filed applications with the SEC for ETF products based on various crypto assets such as XRP, Solana, Dogecoin, Cardano, Avalanche, Hedera, Litecoin and Polkadot. The crypto assets chosen by Truth Social are noteworthy. The inclusion of Bitcoin and Ethereum as market leaders was an expected move. While Solana stands out with its speed and low transaction costs, Cronos stands out as part of Crypto.com's decentralized ecosystem. The inclusion of XRP is considered a very ambitious choice despite the long-standing litigation between the SEC and Ripple. In light of these developments, all eyes have turned to the SEC again. Whether Truth Social's "Crypto Blue Chip ETF" application will be accepted and how it will respond to other multi-asset ETF projects is eagerly awaited.
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8 Jul 2025
Watch Out for July 22: Cryptocurrency Report to be Presented in the US
The US is preparing to take another important step towards its goal of becoming a global leader in cryptocurrencies. The Trump administration is continuing its work on a new “Digital Asset Report” expected to be presented on July 22. This comprehensive report will include recommendations and regulations that will shape US policies on cryptocurrencies.This development comes after US President Donald Trump signed an executive order in January that aims to strengthen America’s position in the crypto industry. The administration’s ultimate goal is to make the US a global hub for cryptocurrencies.Bitcoin reserve on the agenda: Funding can be provided without increasing tax burdenOne of the most striking headlines of the report is America’s plan to create a strategic Bitcoin reserve. According to industry sources, alternative funding methods that will not impose an additional burden on taxpayers are proposed for the financing of this reserve. Although this plan has not yet been finalized, it is expected that the US government’s influence on cryptocurrencies will increase if it is implemented.If this reserve plan is formalized, America’s leadership in the crypto market will be further consolidated and a strong national asset base will be created in the digital economy. A new era may begin in the US's crypto policies.National framework for cryptocurrenciesThe report being prepared is not limited to the Bitcoin reserve. With the proposal of the US Congress, the establishment of a federal digital asset regulatory framework for stablecoins is also on the agenda. In addition, it is suggested that steps be taken to ensure that crypto companies receive equal service from banking institutions such as the Federal Reserve. This approach aims to reduce discrimination against crypto companies in the financial system and provide more equitable access to the sector.Statement from the CFTC Chair: "Crypto roadmap"Caroline Pham, Interim Chair of the US Commodity Futures Trading Commission (CFTC), defined the report in question as a "cryptocurrency roadmap". The report is expected to include new legal and regulatory proposals, as well as the steps taken by federal institutions for digital assets to date. The idea of a national digital asset reserve, announced by Trump in March, will also be one of the focal points of the report.The timing of the proposals to be included in the report is also noteworthy. The Trump administration has declared the week of July 14 as “Crypto Week.” Within this scope, crypto regulation bills will be discussed in the House of Representatives. Experts state that this report can be used as a critical policy tool in Trump’s upcoming election process. In general, we can say that there has been positive news about cryptocurrencies from the US recently. As we have previously reported, two US institutions will hold important hearings on cryptocurrencies on July 9, tomorrow. The House of Representatives will hold a hearing titled “Making America the Crypto Capital of the World: Ensuring Digital Asset Policy Fit for the 21st Century.” The Senate will hold a hearing titled “Building Tomorrow’s Digital Asset Markets.” In particular, providing legal clarity for Bitcoin and altcoins is very valuable for the sector.
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8 Jul 2025
Daily Market Summary with JrKripto July 8, 2025
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 maintained its strong volume structure since last week and ended Sunday steadily around $109,200. The $108,900 level stands out as a key resistance threshold. As long as the price holds above this level, it will aim to surpass the $110,600 peak. However, as seen yesterday, Bitcoin failed to stay above the $108,900 resistance and pulled back to the $107,300 support level. For now, it seems to have found support in this zone. If this support is lost, the price could decline first to $106,300 and then to the $104,900 support. On the upside, if the $111,920 peak is broken, the next targets following a new ATH would be $114,000 and $120,000.Ethereum mirrored Bitcoin’s trend, closing last week with rising volume. From a broader perspective, ETH continues to trade within a range. The $2,465 level plays a pivotal role here. Following last week’s notable price increase, it is a positive sign that ETH is holding above this level. In the short term, it is trading within a critical zone. The $2,595–$2,550 range forms a wide resistance area. The $2,600 target we previously highlighted has been reached. Should ETH break above this resistance, the price may rise toward the $2,700 region.Crypto NewsWhite House Official: Tariffs will not increase.TON Foundation Seeks New Vice President of Marketing After Reactions from "Fake" Partnerships.SEC Accepts Truth Spot Bitcoin and Ethereum ETF Application.SEC Postpones Fidelity Spot SOL ETF Application.Leavitt: Trump will sign a presidential decree postponing the July tariff deadline to August 1.Spain's second-largest bank, BBVA, has launched a Bitcoin and Ethereum trading and custody service via its mobile app.CryptocurrenciesTop Gainers:M → Increased by 89.8% to $0.18881367HNT → Increased by 5.2% to $2.41GLM → Increased by 3.5% to $0.23439222MOCA → Increased by 3.4% to $0.07157369BONK → Increased by 3.3% to $0.00002287Top Losers:USELESS → Declined by 13.4% to $0.242857B → Declined by 11.3% to $0.35661965PLUME → Declined by 10.7% to $0.10422101SPX → Declined by 8.2% to $1.23SYRUP → Declined by 7.6%, it fell to $0.51531127Fear Index:Bitcoin: 68 (Greed)Ethereum: 50 (Neutral)Dominance:Bitcoin: 65.31% ▲ 0.04%Ethereum: 9.30% ▼ 0.08%Global MarketsThe US announced that it has imposed new customs duties of 25–40% on 14 countries. These rates will be effective as of August 1. The decision was made in addition to the previously announced sectoral taxes. In addition, the tariff postponement period, which was due to end on July 9, was extended to August 1.Although increasing uncertainty increased volatility in global markets, the reactions were not as harsh as in April. The VIX index increased by 0.3 points to 17.8. This indicates a slight weakening in risk appetite and an increased tendency towards safe havens. US futures started the day with a mixed outlook.Most Valuable Companies and Stock PricesNVIDIA (NVDA) → $3.86 trillion market value, $158.24 per share, down 0.69%Microsoft (MSFT) → $3.70 trillion market value, $497.72 per share, down 0.22%Apple (AAPL) → $3.14 trillion market value, $209.95 per share, down 1.69%Amazon (AMZN) → $2.37 trillion market value, $223.47 per share, up 0.03%Alphabet (GOOG) → $2.15 trillion market value, $177.56 per share, down 1.66%Borsa IstanbulTreasury Cash Balance had a deficit of 455.1 billion TL in June. While revenues were TL 856.6 billion, expenses were TL 1.31 trillion, interest payments were TL 250.4 billion.BIST-100 started the week with a 1.6% decrease. The risk aversion trend and the cautious atmosphere abroad supported this pullback. While the US postponing the customs duty decision to August 1 reflected positively on European stock markets, the US side remained more cautious.While there was no important data in the country today, the CDS premium increased by 10 basis points. The market will focus on the presentation that Treasury and Finance Minister Şimşek will make to foreign investors. In addition, the second-quarter results of banks may increase stock-based volatility. We expect a horizontal course in the index.Companies with the Highest Market Value on Borsa IstanbulQNB Finansbank (QNBTR) → 922.93 billion TL market value, 267.00 TL per share price, 3.09% decreaseAselsan Elektronik Sanayi (ASELS) → 689.47 billion TL market value, 151.3 TL per share price, 0.07% increaseTürkiye Garanti Bankası (GARAN) → 577.08 billion TL market value, 136.4 TL per share price, 0.73% decreaseKoç Holding A.Ş. (KCHOL) → 410.05 billion TL market value, 156.7 TL per share price, decreased by 3.09%Türk Hava Yolları A.O. (THYAO) → 404.00 billion TL market value, 287.50 TL per share price, decreased by 1.79%Precious Metals and Currency PricesGold: 4,284 TLSilver: 47.32 TLPlatinum: 1,765 TLDollar: 39.97 TLEuro: 46.94 TLWe look forward to bringing you the latest updates again tomorrow.
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8 Jul 2025
US to Talk Crypto on July 9: Two Historic Sessions for Investors
The US Congress has turned its course to the cryptocurrency market following President Trump's comprehensive tax and budget package. On Wednesday, July 9, both the House of Representatives' Ways and Means Committee and the Senate's Banking Committee will hold important hearings on cryptocurrencies. On the other hand, "Crypto Week" is approaching. As will be recalled, House Speaker Mike Johnson declared the week of July 14 as "Crypto Week". Within this scope, bills on the structure of digital asset markets and stablecoins will be voted on.Crypto taxation on the tableThe session titled "Making America the Crypto Capital of the World: Ensuring Digital Asset Policy Fit for the 21st Century" to be held by the House of Representatives will attempt to clarify the framework for cryptocurrency tax policies. Although the witness list has not yet been shared with the public, it is expected that important topics that directly concern investors and developers will be discussed in the session. In particular, the taxation and declaration procedures of leading assets such as Bitcoin and Ethereum and stablecoins will be the subject of discussion.Sector giants to speak in the SenateThe Senate session titled “Building Tomorrow’s Digital Asset Markets” will be attended by familiar names from the sector. Blockchain Association CEO Summer Mersinger, Chainalysis CEO Jonathan Levin, Paradigm partner Dan Robinson and Ripple CEO Brad Garlinghouse will answer questions from Senate members. The Senate will address liquidity systems, custody solutions and the reserve structure of stablecoins in this session. It is aimed to clarify regulatory uncertainties that may especially interest institutional investors.CLARITY and GENIUS laws to be voted onBeyond July 9, July 14 is also eagerly awaited in the crypto field. Because on this date, two important bills will be voted on in the House of Representatives as part of Crypto Week: CLARITY Act and GENIUS Act. The CLARITY Act aims to determine which crypto assets are subject to which regulator by making a clear division of duties between the SEC and CFTC. This law could pave the way for large banks and institutional investors to enter the crypto market more strongly.The GENIUS Act provides a legal framework for stablecoins. This law, which passed the Senate in June, introduces regulations regarding the issuance and trading of stablecoins. If the bill is approved by the House of Representatives, banks, fintech companies and large retailers will be able to start offering stablecoin services. However, the fact that the bill was submitted to a direct vote by skipping the committee stages has drawn criticism from some segments.Although both bills initially received bipartisan support, they later faced serious objections from Democrats. The main reason for this was Trump and his family's close ties to various crypto projects and stablecoin initiatives. Democrats proposed amendments that would prohibit presidential candidates from making private crypto investments. However, these proposals were rejected by the committees, which are mostly Republicans.
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7 Jul 2025
Daily Market Summary with JrKripto July 7, 2025
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 continued its high-volume structure from last week into the weekend, closing the stable Sunday with an increase at the $109,200 level. BTC, which experienced a strong upward breakout from the downtrend that began in May, is now consolidating above this structure. The $108,900 resistance level is a key threshold at this point. As long as the price stays above this level, it will aim to break through the $110,600 peak. In case of pullbacks, the $108,900 level we mentioned earlier, followed by the trend support we saw at the average $108,000 point, could keep the price in this region. In an upward scenario, if the $111,920 peak is surpassed, the first targets after the new ATH will be the $114,000 and $120,000 levels.Ethereum also followed Bitcoin, closing the week with a volume-driven rise. When we look at ETH from a broader perspective, we observe that it continues to trade within the range. The $2,465 level plays a key role at this point. After last week's significant rise, it is positive that the price remains above this level. It is also trading in a critical area in the short term. The $2,595–$2,550 area stands out as a broad resistance area. We have reached the $2,600 target we gave in previous bulletins. However, if this region is breached, the price could rise as high as the $2,700 region.Crypto NewsAuthorities have announced that there is no golden visa for digital currency investors in the UAE.White House Economic Advisor Hassett stated that the likelihood of a recession is zero.Kazakhstan plans to establish a Bitcoin and crypto reserve.Toncoin has partnered with the UAE and started offering 10-year golden visas to TON stakers.A Bitcoin whale that has been dormant since 2011 moved 60,000 BTC today. The investor holds a total of 80,009 BTC ($8.69 billion).CryptocurrenciesTop Gainers:TIA → Increased by 13.2% to $1.67B → Increased by 13.1% to $0.39170547SPX → Increased by 13.1% to $1.37KTA → Increased by 10.8% to $0.68357771IP → Increased by 8.6% to $3.19Top Losers:TKX → Declined by 42.6% to $9.04PENGU → Declined by 6.3% to $0.01521971TON → Declined by 6.2% to $2.82USELESS → Declined by 4.8% to $0.27979579SAFE → Declined by 2.3% to $0.42950742Fear Index:Bitcoin: 70 (Greed)Ethereum: 57 (Greed)Dominance:Bitcoin: 65.27% ▼ 0.05%Ethereum: 9.34% ▲ 0.13%Global MarketsThe US non-farm payrolls data for June came in at 147,000, above expectations. The unemployment rate fell from 4.3% to 4.1%. However, we observed a decline in working hours and hourly earnings. After the strong employment data, expectations for interest rate cuts weakened, and sales were seen in the bond market. US stock markets were closed on Friday due to a holiday.Global markets started the new week on a bearish note with tariff news from the US. President Trump announced that tariffs would take effect on August 1 instead of July 9 and signaled a 10% additional tariff on BRICS countries. On Friday, the VIX index rose 1.1 points to 17.5 amid low liquidity and trade uncertainty, indicating a decline in risk appetite.Most Valuable Companies and Stock PricesNVIDIA (NVDA) → Market capitalization of $3.89 trillion, share price of $159.34, up 1.33%Microsoft (MSFT) → Market capitalization of $3.71 trillion, share price of $498.84, up 1.58%Apple (AAPL) → Market capitalization of $3.19 trillion, share price of $213.55, up 0.52%Amazon (AMZN) → Market value of $2.37 trillion, share price of $223.41, up 1.59%Alphabet (GOOG) → Market value of $2.18 trillion, share price of $180.55, up 0.44%Borsa IstanbulInflation data declined slightly in June. Monthly inflation was 2.04%. Prices rose slightly faster in services, while the rate of increase slowed in goods. Today, the Treasury's cash balance will be announced. In addition, throughout the week, the government is also set to hold bond and bill auctions with various maturities.The Borsa Istanbul ended last week with a 9% gain, driven by expectations of an interest rate cut. This week, attention will turn to domestic economic data and developments related to U.S. tariff policies. Key items on the economic calendar include today’s cash budget, Thursday’s industrial production and retail sales data, and Friday’s balance of payments report. Additionally, corporate earnings announcements are set to begin. We anticipate the stock market will start the week with a slight pullback.Companies with the Highest Market Value on the Istanbul Stock ExchangeQNB Finansbank (QNBTR) → Market value of 922.93 billion TL, share price of 266.50 TL, experienced a 3.27% declineAselsan Elektronik Sanayi (ASELS) → Market value of 689.47 billion TL, share price of 149.10 TL, down 1.39%Türkiye Garanti Bankası (GARAN) → Market value of 577.08 billion TL, share price of 137.50 TL, up 0.07%Koç Holding A.Ş. (KCHOL) → Market value of 410.05 billion TL, share price of 157.50 TL, a 2.60% declineTurkish Airlines A.O. (THYAO) → Market value of 404.00 billion TL, share price of 288.75 TL, experienced a 1.37% declinePrecious Metals and Currency PricesGold: 4,243 TLSilver: 47.21 TLPlatinum: 1,766 TLDollar: 39.94 TLEuro: 47.05 TLWe look forward to bringing you the latest updates again tomorrow.
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7 Jul 2025
CoinShares: Institutional Money Inflow Increases in Bitcoin, ETH and 5 Altcoins
According to the latest report published by CoinShares, cryptocurrency investment products recorded a net inflow of $1.04 billion last week, completing the 12th consecutive week of positive growth. With this increase, the total amount of assets under management (AuM) in digital assets reached an all-time high of $188 billion. The weekly trading volume was recorded as $16.3 billion; this figure is very close to the weekly average for the entire year.USA leads in regional distributionWhen looking at the regional distribution of fund inflows, the US stands out by far with a contribution of $1.025 billion. Germany and Switzerland were the second and third countries in the ranking with $38.5 million and $33.7 million, respectively; Canada experienced an outflow of $29.3 million and $9.7 million, respectively. The outflows in Canada and Brazil in particular reveal differences in regional investor sentiment.Bitcoin inflows slowed, ETH shinesBitcoin-focused investment products saw an inflow of $790 million on a weekly basis. Although this figure is high, it indicates a slowdown when you consider that an average of $1.5 billion inflows have been recorded in the last three weeks. It is thought that investors are being cautious as Bitcoin approaches its historical peaks.Ethereum, on the other hand, attracted attention with an inflow of $226 million. This means the 11th consecutive week of positive inflows for Ethereum. During this period, a total of nearly $3 billion inflows were recorded in Ethereum. More importantly, the average weekly inflow to Ethereum products during this period corresponds to 1.6% of AuM. This rate is twice as much as Bitcoin's 0.8% rate in the same period. In other words, we see that investors' interest in Ethereum is rapidly increasing. Remarkable movement in altcoinsThere were also notable developments on the altcoin side. Solana (SOL) stood out with a weekly inflow of $21.6 million. XRP recorded an inflow of $10.6 million; Sui recorded an inflow of $1.6 million. Other assets such as Chainlink ($0.5 million), Cardano ($0.4 million) also attracted investor attention. Litecoin did not record any inflows or outflows at the beginning of July.In contrast, multi-asset products experienced a weekly outflow of $12.4 million, while products for some altcoins in the "other" category saw a limited inflow of $2.8 million. This category has experienced an outflow of $504 million since the beginning of the year.Grayscale has an outflowGrayscale closed the week with a negative outflow of $46 million. This situation is associated with the company's corporate restructuring and falling volumes since late 2024. In addition, as we reported recently, the U.S. Securities and Exchange Commission (SEC) first accepted and then suspended Grayscale's request to convert its Digital Large Cap fund, which includes many altcoins, into an ETF. CoinShares' own product, XBT Provider AB, also experienced an outflow of $19 million.
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7 Jul 2025
Double Support for Bitcoin: Trump Announces Tariffs, Musk Founds Political Party
While stablecoin news related to the euro and ruble dominated the headlines in recent days, one of the most notable developments in the crypto market this week was the rise of Bitcoin. After falling below the $108,000 level over the weekend, BTC rebounded on Monday morning, rising above $109,000. This rise was largely influenced by US President Donald Trump's new tariff decisions. In addition, Elon Musk said that the political party he is founding will support Bitcoin. Following these developments, according to JrKripto data, Bitcoin reached $109,362 in the last 24 hours.Trump's new tariff schedule gave the market a breatherAccording to a statement made by US Treasury Secretary Scott Bessent on Sunday, the customs tariffs announced in April will come into effect on August 1. However, these tariffs will only apply to countries that do not have a trade agreement with the US. Bessent also stated that if the negotiations fail, the tariffs could return to their April levels. The Trump administration had previously suspended the tariffs for 90 days in April; that period expires on Wednesday.BTSE COO Jeff Mei said investors were concerned that there could be significant market volatility until the July 9 tariff deadline, but that the new date, postponed to August 1, has brought relief. “Markets rose on the news that countries would have more time to negotiate,” Mei said, emphasizing that the US Consumer Price Index (CPI) to be announced in the coming days will also provide important signals as to whether the Fed will cut interest rates.Nick Ruck, Research Director at LVRG, said that if Bitcoin approaches its all-time high of $111,814, it could enter a new “price discovery zone.” In particular, DeFi protocols and artificial intelligence companies focusing more on institutional demand could create upward movement potential not only for Bitcoin but also for some selected altcoins.In addition to Bitcoin, other major cryptocurrencies are also on a positive trajectory. Ethereum rose to $2,577, while XRP traded at $2.27. Solana reached $152.Political support for Bitcoin from Elon MuskAn important development regarding Bitcoin also came from Elon Musk. Tesla CEO Elon Musk announced over the weekend on social media platform X that his newly formed political group, the “America Party,” would support Bitcoin. “Fiat currencies are hopeless, so yes,” Musk said, clearly expressing his support for BTC and stating that his party aims to create an alternative to the current two-party system in the US. Musk made the announcement on Saturday, citing the spending policies jointly pursued by Democrats and Republicans that have shaken the country's budget as the reason behind his decision. In particular, the $3.4 trillion “Big, Beautiful Bill” spending package signed by Trump last week was described by Musk as “a disgusting mess.”Elon Musk had previously drawn attention with the Department of Government Efficiency (DOGE) initiative, created to cut government spending. Now, with the America Party, he aims to play a decisive role in the legislative process by winning a few key seats in Congress. Notable figures such as billionaire Mark Cuban and SkyBridge Capital founder Anthony Scaramucci are also among those showing interest in the new party. However, the party has not yet been officially registered with the Federal Election Commission.
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7 Jul 2025