KAITO, an altcoin, recently dropped from its all-time high of $2.92 and is attempting to regain that peak. Its price movement is closely correlated with Bitcoin, and as Bitcoin recovers, KAITO's price may follow suit. However, traders are skeptical, as reflected in the negative funding rate and dominance of short contracts. KAITO's price is currently just below a resistance level and may continue to trade within a range. Breaking the resistance could lead to a rally, while failing to do so may result in consolidation or a downtrend.



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