KAITO sees $10M whale token transfer and breakout, but spot sellers remain cautious.

KAITO experienced a significant transfer of 18 million tokens worth $10.33 million to a new wallet, sparking market speculation about strategic repositioning rather than immediate selling. Despite this, spot market data showed continued selling pressure, indicating traders were cautious and preferred profit-taking. Meanwhile, derivatives traders increased bullish exposure, with open interest rising over 14%, reflecting growing speculative interest. KAITO broke above a key resistance level at $0.5325 and traded near $0.5794, with technical indicators suggesting strong buying but potential short-term cooling. The market awaits confirmation if buyers can sustain the breakout toward the next resistance at $0.6500 or if selling pressure will push prices back down.