BTC jumps 2% with Floki and Kaspa among the biggest gainers

Crypto Price Prediction: The crypto market has been teetering on uncertainty following Bitcoin price consolidation for almost two weeks. Daily charity projecting neutral candles accentuates the lack of initiation from bulls or bears.

However, the leading digital asset witnessed a notable increase in probability on Monday, driven by positive market sentiment towards spot. Bitcoin ETF starting to be traded tomorrow in Australia. Today, BTC price rose 2% and led most major altcoins to a relief rally.

Among the recent jumps, Canine Memecioin Floki and Kaspa emerged among the biggest gainers, attracting dynamic buyers in the market.

Read too: Top 5 Catalysts That Could Drive Bitcoin Price to $150,000

1.Bitcoin (BTC)

Bitcoin (BTC) is the pioneering cryptocurrency that operates on a decentralized network using blockchain technology to enable peer-to-peer transactions without intermediaries.

Bitcoin (BTC) | Trading view

Over the past two weeks, Bitcoin has remained stable around $69,000 thanks to a strong demand zone between $66,900 and $68,900, according to crypto analytics firm IntoTheBlock. More than two million addresses have accumulated a total of 1.1 million BTC in this range, highlighting significant interest and activity among traders.

An analysis of the daily chart shows the Bitcoin the price is developing a bullish pennant pattern. The currency price resonating within two converging trendlines should regain buying momentum and release it upon the breakout of the overall trendline.

At press time, Bitcoin’s price was trading at $68,949, while the market cap boasted $1.358 trillion.

The potential breakout will provide buyers with adequate support to drive the recovery towards $75,000, followed by an extended rally towards $88,000.

Read too: Bitcoin News: Developers Debate Major BTC Network Upgrade for New Use Cases

2) Floki

Floki is a cryptocurrency project inspired by Elon Musk’s Shiba Inu dog called Floki. The goal is to create a vibrant ecosystem that combines meme culture with real utility. With today’s market recovery, the price of FLOKI jumped 15%, currently trading at US$0.000267.

Floki| Trading view

According to data from CoinMarketCap, FLOKI coin has a market cap of $2.7, while training volume has increased by 127% since yesterday. This rally managed to reclaim a notable price level of $0.000267, providing buyers with adequate support to challenge the $0.000313 high again.

A potential breakout will accelerate buying momentum and push the FLOKI price beyond the all-time high of $0.0003437. With assets poised to enter a price discovery mode, the traditional pivot level indicates the indirect bid at $0.000041, followed by $0.00005.

Read too: FLOKI price rises 5% with accumulation of 7 billion coins, price to maintain momentum?

3) Dandruff (KAS)

Kaspa (KAS) is a cryptocurrency project focused on providing a secure, scalable and high-performance blockchain platform. Kaspa’s standout feature is its use of the GhostDAG protocol, which allows for faster block times and higher transaction throughput compared to traditional blockchains.

Kaspa (KAS)

Since the beginning of May, the KAS coin has witnessed a remarkable recovery, increasing its price from $0.1 to $0.149, recording a growth of 48%. Furthermore, the market value rose to US$3.552 billion.

An analysis of the daily chart shows the inverted head and shoulders formation with the altcoin currently challenging its neck at $0.15. A potential break of this barrier will signal a major shift in the trend reversal, encouraging buyers to chase potential targets at $0.19, followed by $0.22.

To remove

The ongoing consolidation in the crypto market is expected to conclude as Bitcoin approaches a decisive breakout. Under the influence of a bullish continuation – pennant pattern, BTC price could regain its exhausted bullish momentum and resume the prevailing uptrend.

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