Litecoin Financial News

After failing to sustain above the resistance of its narrow range, Bitcoin fell near a key support level on July 18. The consolidation of the past few days seems to be an accumulation phase, according to Glassnode’s Bitcoin Accumulation Trend Score. A similar score was seen during the accumulation phases between November and December and again from March to April.

Bitcoin (BTC) is still almost a year away from its next block reward halving, but Litecoin (LTC) miners are already bracing for impact.

The Litecoin (LTC) price has risen by a slight 0.5% in the past 24 hours, yet its move to $91.77 still means it's down by 6% in the last seven days.

Ripple Labs’ victory in the case against the United States Securities and Exchange Commission gives a significant boost to the crypto industry. In addition to benefitting Ripple and XRP (XRP), analysts believe that the ruling will weaken the regulator’s case against Binance and Coinbase.

The crypto market is currently witnessing a notable uptick, propelled by the recent legal victory of Ripple, the company behind XRP, in its lawsuit against the SEC.

cryptocurrency markets were majorly trading higher on Wednesday ahead of the key US inflation data, due later in the day. Bitcoin (BTC) rose 0.70% to $30,667, whereas Ethereum (ETH) was above the 1,850 level. BTC volume stood at approximately $11.75 billion, falling 20% in the last 24 hours. «Bitcoin rose above $31,000, underpinned by a bullish forecast from U.K. bank Standard Chartered predicting that bitcoin will reach $50,000 by the end of 2023 and $120,000 by the end of 2024. However, it retraced back to $30,350 as the US June Consumer Price Index (CPI) and the Producer Price Index (PPI) will be released this week, bringing inflation data back into the spotlight,» said CoinDCX Research Team. Shubham Hudda, Senior Manager at CoinSwitch Markets Desk, said, «The CPI (YoY) consensus forecast this time is 3.1% — down from the previous reading of 4%. A lower-than-expected reading can give the entire market an upward push, however, it seems like the market may not be as concerned in case the reading comes out to be more than 3.1%.»

cryptocurrency market was trading higher on Tuesday, with Bitcoin (BTC) rising 1.23% to $30,476, while Ethereum was above the $1,850 level. Meanwhile, BTC volume in the last 24 hours stood at approximately $14.59 billion, rising 66.55% in the last 24 hours. «Bitcoin continues to consolidate above $30,000 with a quick move towards $31,000 earlier today followed by a quick pullback. BTC is likely to make an attempt to reclaim the level again. Breaching key resistance at $32,400 will be the eventual target before a sustained rally is possible,» Vikram Subburaj, CEO of Giottus Crypto Platform, said. «Ether is currently facing resistance at the 20-day exponential moving average ($1,871) while the bulls are attempting to defend the 50-day simple moving average ($1,841). This struggle between buyers and sellers indicates a lack of clear momentum in the market,» said the ZebPay Trade desk.

Bitcoin (BTC) bulls are again having a go at the overhead resistance of $31,000. The bullish sentiment may get a boost from the United States inflation report, which showed signs of slowing down. Economists were expecting the year-on-year consumer price index to rise 3.1% but the June print came in at 3%.

The Litecoin price has dropped by 1% in the past 24 hours, with its dip to $96.73 coming as the cryptocurrency market as a whole gains by 1%.

Bitcoin (BTC) investors are closely watching the performance of Litecoin (LTC), another proof-of-work token, as the flagship cryptocurrency gears up for its upcoming "halvening" event. 

cryptocurrency market was trading in the red on Monday. Bitcoin (BTC) fell 0.65% to $30,069, while Ethereum was just above the $1850 level. Meanwhile, BTC volumes in the last 24 hours stood at approximately $8.8 billion, rising 17.78% in the last 24 hours. Bitcoin started the new week trading sideways above the US$30,000 level as the market continued to digest the latest nonfarm payroll report, Edul Patel, Co-founder and CEO at Mudrex, said. «BTC has been trading between the levels of US$30,000 and US$31,400 since the past few days. This suggests both bulls and bears are active in the market and that bulls are continuing to defend the level aggressively,» Edul added.

Bitcoin has been struggling to rise and sustain above the $31,000 level for the past few days, but Standard Chartered has painted a bullish picture for this year and the next. In a report, the bank said that Bitcoin (BTC) could reach $50,000 this year and stretch the rally to $120,000 by the end of next year.

The Litecoin price has fallen by 3% in the past 24 hours, dropping to $93.86 as the cryptocurrency market as a whole slides by 0.5% within the same timeframe.

Litecoin, one of the prominent cryptocurrencies, has garnered significant attention in the market, with a trading volume surpassing $1 billion. As a result, Litecoin has secured its position among the top 10 most traded cryptocurrencies globally.

Bitcoin is still struggling to stay above $31,000.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

cryptocurrency markets were majorly trading lower for the third straight day on Friday. Bitcoin (BTC) declined 1.46% to $30,155, whereas Ethereum (ETH) was below the $1,900 level. «Despite the slight selling pressure in the last 24 hours, the global crypto market capitalization continues to remain above $1.2 trillion. The crypto fear and greed index, too, continues to remain in the greed zone with a score of 55/100, down 1 point from yesterday,» Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said. «This selling pressure could be attributed to stronger-than-expected employment data in the US ADP private employment report. This could increase the possibility of another interest rate hike by the feds, which is driving the investor sentiment away from risk-on assets,» Part added.

cryptocurrency markets were majorly trading in the red on Wednesday ahead of the FOMC meeting minutes. Bitcoin (BTC) fell 0.61% to $30,800, whereas Ethereum (ETH) was below the $1,950 level. BTC volume stood at approximately $10.9 billion, falling 32% in the last 24 hours. «Bitcoin, after surpassing the US$31,000 mark yesterday, is currently consolidating around the US$30,800 level as investors eagerly anticipate the release of the FOMC minutes today,» Edul Patel, Co-founder, and CEO at Mudrex, said. «Presently, neither the bulls nor the bears have a clear upper hand as Bitcoin trades within the middle range between the support and resistance levels. If the price closes above the US$31,000 zone in the coming days, there is a possibility of Bitcoin climbing above the US$32,000 mark in the near future,» Edul added.

Bitcoin continues to trade near $31,000, making it an important resistance level to watch out for in the short term. Some analysts believe the current consolidation could result in an upside breakout in Bitcoin.

Denmark’s Financial Supervisory Authority (FSA) has directed Saxo Bank, a Copenhagen-based multi-asset broker, to dump its cryptocurrency holdings.

Litecoin (LTC) price is down today, mirroring downside moves elsewhere in the crypto market.