Crypto Market Faces Pivotal Week with Key Token Unlocks and Earnings Reports

Investors are closely monitoring the cryptocurrency market as it faces a pivotal week influenced by corporate earnings, geopolitical trade developments, and impending token unlocks. With Bitcoin at record highs, the focus is on altcoins like Kaito, Avalanche, and Pi Network, which are at critical junctures that could determine the market's next move.

Earnings reports from major US companies, including Google, Tesla, IBM, and Microsoft, are expected to drive market sentiment. Additionally, the August 1 deadline for trade agreements with key partners like South Korea and the European Union adds to the uncertainty. Failure to reach a deal by this date could result in significant tariffs, prompting these countries to work towards a resolution to avoid such penalties.

Exchange-traded fund (ETF) inflows and increased corporate accumulation are also anticipated to influence the crypto market. Among the top cryptocurrencies to watch are Kaito (KAITO), Avalanche (AVAX), and Pi Network (PI).

Kaito, known for its Yield Attention Protocols (YAPs), uses an AI platform to quantify and reward users for their engagement on social media platforms. The platform also enables users to search and track tickers and narratives in the crypto industry. This week, Kaito's $KAITO token will be in the spotlight as it unlocks tokens worth over $13.94 million, representing 3.50% of its float. The network will continue unlocking more tokens until 2028, with a circulating supply of 241 million tokens against a maximum limit of 1 billion. The token's price may experience volatility due to the formation of a bearish flag and a rising wedge pattern.

Avalanche (AVAX) has seen a strong bull run, rising from $15.73 in June to $24.70. This week, the network will unlock tokens worth $41.1 million, representing 0.4% of the float. With 325 million tokens already unlocked, 35 million more are set to be released. The final Avalanche tokens will be unlocked in 2030 unless a protocol vote changes this. The AVAX token unlock coincides with its approach to a crucial resistance level at $26.76, the neckline of the double-bottom pattern at $15. A move above this level could indicate further gains in the near term.

Pi Network is another cryptocurrency to watch this week due to its technical indicators. Despite the overall crypto market bull run, Pi Network has experienced a decline in recent months. It is now approaching a crucial support level at $0.4087, where it has formed a double-bottom pattern. A move below this level could invalidate the double bottom and signal further downside. However, Pi Network has also formed a giant falling wedge pattern, which could trigger gains and potentially push the coin to $1 this week.

Other top cryptocurrencies to monitor include Bitcoin, Ethereum, Solana, and XRP, as their ETF inflows are expected to rise. These tokens may also react to potential announcements regarding retirement fund investments in crypto.