Litecoin Price Rises 15% Amid High ETF Approval Expectations
Litecoin's price increased by 15%, nearing resistance at $130, following Bloomberg analysts predicting a 90% chance for a spot Litecoin ETF approval in the US. This news has triggered bullish activity among investors.
Key points:
- Daily trading volume surged by 54%
- ADA futures open interest rose 19.45% to $742 million
- Analyst KALEO indicates favorable market conditions for potential all-time highs for Litecoin since the last halving in August 2023
- If LTC surpasses $130, analysts suggest it could reach $300 or more
Bloomberg ETF analysts report a high probability of a spot Litecoin ETF approval, outperforming Solana (70% chance) and XRP (65% chance) ETFs. A spot Dogecoin ETF has a 75% chance.
The overall crypto market is bullish, with Nasdaq filing for the CoinShares Litecoin ETF to provide direct LTC exposure. Litecoin currently ranks in the top 15 cryptocurrencies and may aim for the top ten in the next market upswing.