Litecoin Financial News

Other popular altcoins, such as Solana and Cardano advanced 14% and 6%, respectively. Also, BNB, Avalanche, Tron, Chainlink, Polkadot, Siba Inu, and Litecoin surged. On the other hand, XRP, Dogecoin, and Toncoin declined. BTC encountered a dip to $43,000 during the day, pulling back from its swift ascent to nearly $45,000 earlier this week. This suggests that traders opted to secure profits after the largest crypto's breakout from $38,000 a week ago, said CoinDCX Research Team. On the flip side, ETH witnessed a 5% upswing over the same period, reaching $2,372, marking its highest level since May 2022. This upward movement also positively influenced the prices of other ETH-related cryptocurrencies, positioning them as the top performers of the day. Ethereum's upsurge is credited to heightened institutional interest and the hopeful anticipation of an ETF approval by the SEC, CoinDCX added.

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cryptocurrency, jumped over 4.2% to $43,671 in Wednesday's trade. Experts say this upward price shift is likely a response to heightened interest from institutional investors and an overall optimistic market sentiment regarding developments in 2024. Meanwhile, Ethereum, the second largest cryptocurrency, surged 1.6% to $2,270 amid a broader rally in the crypto markets. The global cryptocurrency market cap also increased 2.65% to around $1.59 trillion in the last 24 hours. «BTC has sustained its upward momentum for the fifth consecutive day. This surge is primarily fueled by speculation surrounding the approval of a Bitcoin spot ETF, with investors and traders anticipating approval in 2024,» said the CoinDCX Research Team. Additionally, favorable macroeconomic conditions and increasing inflows contribute to the overall rise in market capitalization, it said.

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Meanwhile, the global cryptocurrency market cap surged 2.2% to around $1.43 trillion in the last 24 hours. At 11.56 a.m., BTC was trading 2.85% higher at $38,031, while the second most popular token, Ethereum, was up 2.4% at $2,051. Solana also surged over 7% to $58.32. Positive sentiments prevailed in the market as Bitcoin breached the $37,800 threshold. This price movement could reflect that market participants have now absorbed the news about the recent leadership change at Binance, restoring bullish confidence in their investments, said Edul Patel, CEO of Mudrex.

BNB (-0.8%), Polkadot (-2.1), and Shiba Inu (-1.4%) were trading in the red, while Solana (3.3%), Dogecoin (0.5%), Toncoin (0.3%), Polygon (1%), and Avalanche (2.6%) were trading in the green. Meanwhile, the global cryptocurrency market cap declined by 0.14% to around $1.43 trillion in the last 24 hours. At 10.55 a.m., BTC was trading 0.08% lower at $37,937. In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, fell to $741 billion. «Price movements across the crypto market remain predominantly bearish as investors and money managers grapple with the potential repercussions of intensified regulatory measures targeting the industry,» said ZebPay Trade desk.

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The Litecoin price has risen by 2% in the past 24 hours, reaching $70.94 as the cryptocurrency market gains by 2.5% today.

cryptocurrency market cap declined 1.26% to around $1.42 trillion in the last 24 hours. At 9.45 a.m., BTC was trading 1.05% lower at $37,321, while the second most popular token, Ethereum, was down 1.26% at $2,047. Other popular altcoins, such as Solana and Polygon, plunged 2.6% and 2.8%, respectively. Also, BNB, XRP, Cardano, Tron, and Litecoin fell 1-2%. With steady resistance to cross the $38k mark, BTC held steady above $37k over the weekend. Investors feel that BTC’s price action is beginning to show downside correction. If BTC fails to rise beyond $38k, it could see start a fresh decline for itself, said Parth Chaturvedi, Investments Lead, CoinSwitch Ventures

cryptocurrency market cap increased by 2.33% to around $1.42 trillion in the last 24 hours. At 12:52 p.m., BTC was trading 2.4% higher at $37,372. In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, surged to $730 billion. «The price of Bitcoin has been above the $37,300 level today as market participants anticipate that the recent regulatory activity in the US might lead to positive news about a Bitcoin spot ETF. Market sentiments are presently positive, with the bulls working hard to sustain and keep up the momentum,» said Edul Patel, CEO of Mudrex. Vikram Subburaj, CEO of Giottus Crypto Platform, said, «The crypto market prevailed over concerns regarding global exchange Binance and have bounced strongly post a healthy correction. Bitcoin, having gained 3% daily, is primed to rally towards the $38,000 level post which $40,000 becomes a possibility.»

BNB (6.8%), and Cardano (0.6%) were trading in the green, while XRP (-1.7%), Solana (-6.7%), Dogecoin (-3.8%), Chainlink (-4.4), and Avalanche (-7.5%) were trading in the red. Meanwhile, the global cryptocurrency market cap increased by 0.08% to around $1.42 trillion in the last 24 hours. At 11.23 a.m., BTC was trading 0.6% higher at $37,354. In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, surged to $730 billion. «Bitcoin is currently trading at the $37,400 level as investors anticipate updates from today's US FOMC meeting. Notably, Bitcoin has achieved a remarkable growth of over 126% since the beginning of the year. Concurrently, Ethereum sustains its position above the $2,000 threshold amidst discussions about the Spot ETH ETF applications in the US,» said Edul Patel, CEO of Mudrex.

BNB, XRP, Solana, Cardano, and Dogecoin were up between 1% and 3.70% around 10.15 IST. Bitcoins's gains over the past seven days have been to the tune of 0.80% while for Solana Dogecoin and Cardano, the uptick has been nearly 4%, 2%, and 5% respectively. The laggards on a seven-day basis include XRP (-4.6%), Ethereum (-1.83%), and Tron (-5%). Cryptocurrencies have an inverse relationship with the US dollar. The dollar index was trading at 103.61, down 0.30 or 0.29%. The dollar index (DXY) has tumbled to a two-month low and corrected by 1.9% over the last five sessions, aiding the cause of cryptocurrencies. The weakness has been on account of softer US inflation for the October month which was lower than what the Street was expecting. This has given a fresh impetus to views that were batting for a pause in the interest rate. The lower inflation print may result in the Federal Reserve not doing any further rate hikes. Expert View

cryptocurrency market on Friday gave up the previous day's gains as the global cryptocurrency market cap declined by 2.62% to around $1.4 trillion. At 12:34 p.m., Bitcoin was trading 3.4% lower at $36,338, while the second most popular token, Ethereum, was down 4% at $1,981. «Bitcoin (BTC) faces a sharp decline, falling more than 3% to the $36,300 range after rejecting the $38,000 resistance. The SEC's delay in ruling on Hashdex's bitcoin ETF conversion may have fueled the intraday selloff,» said Sathvik Vishwanath, Co-Founder & CEO of Unocoin. «Macro factors, including a potential US Federal Reserve tapering cycle in 2024, are contributing to cryptocurrency tailwinds. Chart analysis suggests an ascending triangle with bullish growth, with a break above $38,000 potentially leading to a test of $40,000,» Sathvik said.

Data showed US consumer prices were unchanged in October, and the annual rise in underlying inflation was the smallest in two years. In the 12 months through October, the CPI climbed 3.2% — below economists' estimates — after rising 3.7% in September. Meanwhile, the global cryptocurrency market cap fell by 2.3% to around $1.37 trillion in the last 24 hours. At 11:57 a.m., Bitcoin was trading 3.1% lower at $35,562, while the second most popular token, Ethereum, was down 3.9% at $1,980.

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BNB (-2.1%), XRP (-1.8%), Solana (-2.5%), and Chainlink (-5.5%) trading in the red, while Tron (2%), Toncoin (1.6%), Polygon 7.1%), Avalanche (3.5%), and Polkadot were trading in the green. Meanwhile, the global cryptocurrency market cap fell by 0.43% to around $1.41 trillion in the last 24 hours. At 12.12 p.m., BTC was trading 0.9% lower at $36,933. In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, declined to $721 billion. Bitcoin's dominance is currently 51.20%, according to CoinMarketCap. BTC volume in the last 24 hours rose 0.6% to $13.04 billion.

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Dogecoin, Chainlink, Polygon, Polkadot and Shiba Inu were also trading over 4% higher. Meanwhile, during this rally, the global cryptocurrency market cap increased 3.26% to around $1.37 trillion in the last 24 hours. «Bitcoin is trading above the $36,000 threshold as market participants await word on the Bitcoin Spot ETF applications from the US Securities and Exchange Commission (SEC). The SEC now has an eight-day period starting today, where all 12 spot bitcoin (BTC) ETF applications could be approved. Otherwise, market participants will have to wait till early 2024 for updates from the SEC,» said Edul Patel, CEO of Mudrex. Market sentiment is presently bullish as investors await more information. Notably, Bitcoin’s price has grown by over 115% from the beginning of the year, Edul said.