Top cryptocurrencies to watch this week: Bitcoin, Sui, Sonic

All eyes are on Sui this week as the Layer-1 blockchain prepares for a major token unlock that could reshape its near-term price action. While Bitcoin ( BTC ) flirts with a breakout past $107,000 and ETF inflows near $50 billion, Sui ( SUI ) is drawing heightened scrutiny ahead of its July 1 unlock of 5.22 billion tokens—worth over $154 million, or 1.63% of total supply. This recurring monthly event, scheduled to continue through 2030, has become a significant driver of volatility. Technical indicators point to further downside as SUI trades below its 50-day moving average within a descending channel. With the price hovering near the $2 support level, traders are bracing for movement. Meanwhile, broader market sentiment remains mixed as macro data, including U.S. nonfarm payrolls and trade updates, loom. Sonic ( S ) is also in focus ahead of the latest U.S. nonfarm payroll data, to be released on July 3. You might also like: PENGU price jumps as Pudgy Penguins NFT sales, whale buying soar Bitcoin price eyes a major breakout Bitcoin will be one of the top cryptocurrencies as its ETF inflows surge and as it eyes a bullish breakout. Data shows that Bitcoin ETF inflows jumped by over $2.2 billion last week, its third consecutive week of gains. This growth resulted in cumulative inflows of nearly $50 billion. Technical indicators suggest that the Bitcoin price is eyeing a bullish breakout to its all-time high, which may occur this week. It has formed a bullish flag and a cup-and-handle pattern, which often leads to more gains. The distance between the upper side and the lower side of the cup is about 30%. Measuring the same distance from its upper side brings the target to about $145,000. Such a move will likely trigger a new crypto market bull run . Bitcoin price chart | Source: crypto.news You might also like: Wormhole rebounds on Ripple deal, but can the rally bridge its risky gaps? Sui price at risk as a big unlock nears Meanwhile, Sui, a top layer-2 network, will be in the spotlight as the Sui Foundation unlocks 5.22 billion tokens worth over $154 million, or 1.63% of the total supply. Sui has a maximum supply limit of 10 billion tokens and a circulation of 3.39 billion. It unlocks over 55 million tokens on the first of every month, a trend that will continue until 2030. Technicals show that the SUI price has moved below the 50-day moving average and has formed a descending channel. Therefore, the price may continue falling as traders eye the support at $2 ahead of the unlock event. Sui price chart | Source: crypto.news Sui is a Layer-1 blockchain designed for low-latency and scalable decentralized applications (dApps). It was created by Mysten Labs, a company founded in 2021 by former Meta (Facebook) engineers who had previously worked on the Diem blockchain and its smart contract language, Move. You might also like: SUI price prediction: is this the next big L1 in crypto? Sonic price prepares for a token unlock Sonic, formerly known as Fantom, has been in a downtrend, with its token falling by 705 from its highest point this year. The main catalyst for the Sonic price will be on Thursday, when the network unlocks tokens worth over $73.7 million, representing 7.50% of the total float. Sonic has a circulating supply of 2.88 billion against a total supply of 3.17 billion. S price chart | Source: crypto.news The 12-hour chart shows that the Sonic price has crashed from the year-to-date high of $0.9833 to the current $0.3166. It recently moved below the support at $0.3810, the lowest swing on April 8. It remains below the 50-period moving average. Therefore, the token will likely continue falling as sellers target the support at $0.20. Sonic came forth from the Fantom Foundation, led by DeFi developer Andre Cronje, and was unveiled in early 2024. Read more: Immutable flips Ethereum in NFT volume: Can IMX’s double bottom hold?

Source: crypto.news