K\u00fcresel piyasalarda y\u0131l\u0131n ilk yar\u0131s\u0131nda artan jeopolitik gerilimler, enflasyonist bask\u0131lar, merkez bankalar\u0131n\u0131n s\u0131k\u0131 para politikalar\u0131na y\u00f6nelmesi, dolara olan talebin g\u00fc\u00e7lenmesi ve tahvil faizlerindeki y\u00fckseli\u015f, yat\u0131r\u0131mc\u0131lar\u0131n riskli varl\u0131klardan uzakla\u015fmas\u0131na neden oldu.<\/p>\n
ABD\/\u0130srail-\u0130ran Sava\u015f\u0131 ile t\u0131rmanan jeopolitik tansiyon, k\u00fcresel piyasalarda risk i\u015ftah\u0131n\u0131 bask\u0131larken, borsalardan emtia piyasalar\u0131na kadar bir\u00e7ok varl\u0131k s\u0131n\u0131f\u0131nda sat\u0131\u015f bask\u0131s\u0131 \u00f6ne \u00e7\u0131kt\u0131. Bu s\u00fcre\u00e7te kripto para piyasas\u0131 da sat\u0131\u015f dalgas\u0131ndan en fazla etkilenen alanlardan biri oldu.<\/p>\n
\u00d6zellikle ABD Merkez Bankas\u0131n\u0131n (Fed) faiz art\u0131r\u0131m\u0131na gidebilece\u011fine y\u00f6nelik beklentilerin g\u00fc\u00e7l\u00fc kalmas\u0131, kripto para piyasas\u0131ndaki d\u00fc\u015f\u00fc\u015flerin temel nedenleri aras\u0131nda g\u00f6steriliyor. Piyasalarda Fed\u2019in bu y\u0131l en az bir faiz art\u0131r\u0131m\u0131na gidebilece\u011fine ili\u015fkin fiyatlamalar\u0131n devam etmesi, yat\u0131r\u0131mc\u0131lar\u0131n kripto gibi riskli ve getiri sa\u011flamayan varl\u0131klara y\u00f6nelik ilgisini zay\u0131flatt\u0131.<\/p>\n
Kripto paralar, y\u00fcksek faiz ortam\u0131nda genellikle daha zay\u0131f performans sergileyen spek\u00fclatif varl\u0131klar aras\u0131nda yer al\u0131yor. Tahvil getirilerindeki y\u00fckseli\u015f ve faiz oranlar\u0131n\u0131n y\u00fcksek seyretmesi, kripto para yat\u0131r\u0131mlar\u0131n\u0131n f\u0131rsat maliyetini art\u0131rarak piyasadan \u00e7\u0131k\u0131\u015flar\u0131 h\u0131zland\u0131r\u0131yor.<\/p>\n
Kripto piyasas\u0131ndaki t\u00fcm kripto paralar\u0131n toplam de\u011ferini ifade eden Total Market, y\u0131l\u0131n ilk yar\u0131s\u0131nda yakla\u015f\u0131k 919 milyar 860 milyon dolar de\u011fer kaybetti.<\/p>\n
31 Aral\u0131k 2025\u2019te 2 trilyon 956 milyar 470 milyon dolar seviyesinde bulunan toplam piyasa de\u011feri, y\u0131l\u0131n ilk yar\u0131s\u0131 sonunda 2 trilyon 36 milyar 610 milyon dolara d\u00fc\u015ft\u00fc.<\/p>\n
B\u00f6ylece kripto para piyasas\u0131nda y\u0131l\u0131n ilk 6 ay\u0131nda yakla\u015f\u0131k 1 trilyon dolara yak\u0131n bir erime ya\u015fand\u0131.<\/p>\n
Kripto para piyasas\u0131n\u0131n en b\u00fcy\u00fck varl\u0131\u011f\u0131 olan bitcoin de y\u0131l\u0131n ilk yar\u0131s\u0131nda sert de\u011fer kayb\u0131 ya\u015fad\u0131.<\/p>\n
31 Aral\u0131k 2025\u2019te 87 bin 524,9 dolar seviyesinde bulunan bitcoin, haziran ay\u0131nda 58 bin 635,1 dolara kadar geriledi. Bitcoin, bu d\u00f6nemde y\u00fczde 33 de\u011fer kaybetti.<\/p>\n
Piyasada sat\u0131\u015f bask\u0131s\u0131n\u0131n artmas\u0131nda kurumsal \u015firketlerin bitcoin al\u0131mlar\u0131n\u0131 azaltmas\u0131 da etkili oldu. Son d\u00f6nemde kripto para piyasas\u0131n\u0131n y\u00f6n\u00fcnde bireysel yat\u0131r\u0131mc\u0131lardan \u00e7ok kurumsal sermaye ak\u0131\u015flar\u0131n\u0131n belirleyici hale gelmesi, bu alandaki talep zay\u0131fl\u0131\u011f\u0131n\u0131n fiyatlar \u00fczerindeki etkisini art\u0131rd\u0131.<\/p>\n
Ethereum taraf\u0131nda ise d\u00fc\u015f\u00fc\u015f daha sert oldu.<\/p>\n
Y\u0131l\u0131n ilk yar\u0131s\u0131nda y\u00fczde 47 de\u011fer kaybeden Ethereum, 2 bin 976 dolardan 1575 dolara indi. Ethereum, haziran ay\u0131nda 1505,7 dolar\u0131 g\u00f6rerek Nisan 2025\u2019ten bu yana en d\u00fc\u015f\u00fck seviyesine geriledi.<\/p>\n
Bitcoin\u2019in g\u00f6rece daha diren\u00e7li kalmas\u0131na kar\u015f\u0131n Ethereum ve altcoin taraf\u0131nda likidite kayb\u0131n\u0131n daha belirgin hissedilmesi, piyasadaki sat\u0131\u015f bask\u0131s\u0131n\u0131n geni\u015f tabana yay\u0131ld\u0131\u011f\u0131n\u0131 ortaya koydu.<\/p>\n
Blokzincir ve Kripto Varl\u0131k Stratejisti Mete Ali Ba\u015fkaya, AA muhabirine yapt\u0131\u011f\u0131 a\u00e7\u0131klamada, kripto para piyasas\u0131nda y\u0131l\u0131n ilk yar\u0131s\u0131nda ya\u015fanan sert sat\u0131\u015f bask\u0131s\u0131n\u0131 tek bir nedene ba\u011flaman\u0131n do\u011fru olmayaca\u011f\u0131n\u0131 s\u00f6yledi.<\/p>\n
Ba\u015fkaya, Fed\u2019in faizleri y\u00fcksek seviyelerde tutmas\u0131n\u0131n, k\u00fcresel likidite ko\u015fullar\u0131n\u0131n s\u0131k\u0131 kalmas\u0131n\u0131n, spot ETF taraf\u0131ndaki \u00e7\u0131k\u0131\u015flar\u0131n, kurumsal yat\u0131r\u0131mc\u0131 talebindeki zay\u0131flaman\u0131n ve jeopolitik risklerin ayn\u0131 anda fiyatland\u0131\u011f\u0131n\u0131 belirtti.<\/p>\n
\u00d6zellikle ABD-\u0130ran gerilimi ve H\u00fcrm\u00fcz Bo\u011faz\u0131 \u00fczerinden enerji arz\u0131na ili\u015fkin endi\u015felerin k\u00fcresel risk i\u015ftah\u0131n\u0131 bask\u0131lad\u0131\u011f\u0131n\u0131 vurgulayan Ba\u015fkaya, kripto piyasas\u0131n\u0131n kendi i\u00e7indeki kald\u0131ra\u00e7l\u0131 pozisyonlar\u0131n \u00e7\u00f6z\u00fclmesiyle d\u00fc\u015f\u00fc\u015f\u00fcn h\u0131zland\u0131\u011f\u0131n\u0131 ifade etti.<\/p>\n
Ba\u015fkaya, \u015funlar\u0131 kaydetti:<\/p>\n
\u201cBitcoin g\u00f6rece daha diren\u00e7li kal\u0131rken ethereum ve altcoin taraf\u0131nda likidite kayb\u0131 daha sert hissedildi. Bu s\u00fcre\u00e7 bize kripto para piyasas\u0131n\u0131n art\u0131k yaln\u0131zca kendi i\u00e7 dinamikleriyle de\u011fil, Fed politikas\u0131, ETF ak\u0131mlar\u0131, dolar likiditesi, jeopolitik riskler ve kurumsal sermaye hareketleriyle birlikte fiyatland\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Ben bu d\u00f6nemi kripto para piyasas\u0131n\u0131n bitti\u011fi bir d\u00f6nem olarak de\u011fil, piyasan\u0131n kalite ayr\u0131m\u0131 yapt\u0131\u011f\u0131, daha olgun bir d\u00fczeltme s\u00fcreci olarak g\u00f6r\u00fcyorum. Kal\u0131c\u0131 toparlanma i\u00e7in yeniden g\u00fc\u00e7l\u00fc ETF giri\u015fleri, daha yumu\u015fak Fed beklentisi, jeopolitik tansiyonun azalmas\u0131 ve piyasaya yeni bir g\u00fcven hikayesinin gelmesi gerekiyor.\u201d<\/p>\n
Uzmanlara g\u00f6re kripto para piyasas\u0131nda kal\u0131c\u0131 bir toparlanman\u0131n sa\u011flanabilmesi i\u00e7in k\u00fcresel risk i\u015ftah\u0131n\u0131n yeniden g\u00fc\u00e7lenmesi gerekiyor.<\/p>\n
Fed\u2019in para politikas\u0131na ili\u015fkin beklentiler, spot ETF giri\u015fleri, dolar likiditesi, jeopolitik geli\u015fmeler ve kurumsal yat\u0131r\u0131mc\u0131lar\u0131n piyasaya yeniden y\u00f6nelip y\u00f6nelmeyece\u011fi, y\u0131l\u0131n ikinci yar\u0131s\u0131nda kripto varl\u0131klar\u0131n seyrinde belirleyici olacak.<\/p>\n
Piyasa akt\u00f6rleri, \u00f6zellikle bitcoin ve Ethereum ba\u015fta olmak \u00fczere b\u00fcy\u00fck kripto varl\u0131klarda fiyatlamalar\u0131n yaln\u0131zca sekt\u00f6r i\u00e7i geli\u015fmelere g\u00f6re de\u011fil, k\u00fcresel finansal ko\u015fullar ve jeopolitik risklerle birlikte \u015fekillenmeye devam edece\u011fini de\u011ferlendiriyor.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kripto para piyasas\u0131n\u0131n toplam de\u011ferini ifade eden Total Market, y\u0131l\u0131n ilk yar\u0131s\u0131nda 919 milyar 860 milyon dolar azalarak 2 trilyon 36 milyar 610 milyon dolara geriledi. Bitcoin y\u00fczde 33, Ethereum ise y\u00fczde 47 de\u011fer kaybetti.<\/p>\n","protected":false},"author":2,"featured_media":33449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2534,5],"tags":[290,12257,488,4515,12258],"class_list":["post-35773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2-bolge","category-ekonomi","tag-bitcoin","tag-ethereum","tag-fed","tag-kriptopara","tag-totalmarket"],"yoast_head":"\n