Bitcoin near $70K, $KAS holders refuse to celebrate

Hey, welcome to Kaspa Daily Pulse, here's what the Kaspa community's been buzzing about today.

First up, the wider crypto market finally showed some serious life. Bitcoin pushed toward 70 thousand dollars, while Ethereum climbed above 2,100. Community members circulated reports estimating roughly 1.44 billion dollars in liquidations, including about 1.29 billion in short positions. More than 110 thousand traders were reportedly liquidated, with over one billion dollars in shorts wiped out during a very compressed period.

That is a brutal squeeze... but Kaspa holders were not exactly popping champagne.

KAS traded around 2.6 cents and gained roughly 4 percent alongside the broader market. The dominant reaction was frustration that Kaspa was lagging Bitcoin, Ethereum, and other assets. Some holders continued accumulating, including one reported purchase of 10 thousand KAS, while others demanded a much stronger move before calling anything bullish.

The technical crowd stayed cautious. One participant argued that KAS needs to break roughly 4.2 cents before its market structure turns bullish. Elsewhere, attention centered on the “Others” index, representing crypto assets outside the top ten. A close above 171 billion dollars was presented as a potential breakout signal, but the index was still around 169 billion during the discussion. In other words, momentum improved, but confirmation had not arrived.

Another notable development was Kaspa’s reported network hashrate falling from above 300 to around 280. Some community members suggested that fewer active miners could mean less routine KAS selling. Others noted that large operators may still sell consistently to cover electricity expenses, while smaller miners could be holding more of their rewards. It is an interesting theory, but the chat did not provide enough evidence to confirm an actual change in sell pressure.

Finally, sentiment remained wildly divided. Long-term projections ranged from 8 cents by April 2027 to between 35 and 70 cents over the next four years. Bulls talked about future adoption, ecosystem development, and a broader altcoin cycle. Bears called the market move another trap and refused to celebrate while KAS remained below 3 cents.

So, basically... hope is back, skepticism never left, and everyone still wants confirmation from the chart.

That's it for today's pulse. Let's see what tomorrow brings. Catch you then.