Litecoin price jumped 4% to above $64 on Friday morning.
\nLTC was up as positive sentiment permeated the altcoin market amid Bitcoin\u2019s rally to $30k.<\/p>\n
Litecoin (LTC)<\/a> rose more than 4% early on Friday amid a positive reaction across the altcoin market to Bitcoin\u2019s fresh spike to $30k. LTC traded to intraday highs of $64 across major exchanges, with daily trading volume hitting $370 million as buyers pushed the total crypto market cap to over $1.17 trillion<\/a>.<\/p>\n Although a bullish picture has looked increasingly possible with metrics such as Litecoin hashrate\u00a0jumping<\/a> to new highs, one of the likely catalysts could be the increased crowd noise on the probability of a spot Bitcoin ETF hitting the market sooner than anticipated.\u00a0<\/p>\n Recent developments involving potential ETF issuers and the US Securities and Exchange Commission (SEC) have added to the growing belief that the first spot ETF is a matter of when and not if. A court ruling on the Grayscale ETF today is one of the things on the crypto events watchlist for today.<\/p>\n That has Bitcoin price poised for takeoff, and as quant trader Charles Edwards pointed out on X today, the flagship cryptocurrency\u2019s positive outlook is enhanced by the several key metrics in this cycle.<\/p>\n\n A list of Bitcoin firsts this cycle:<\/p>\n \u2013 Hash Rate growth actually increased in bear market \u2014 Charles Edwards (@caprioleio) October 20, 2023<\/a><\/p>\n\n Other catalysts for LTC price<\/a> today could be the regulation news related to SEC dropping charges against Ripple executives. The SEC sued Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen when it filed a lawsuit against the San-Francisco-based company in December 2020. The agency\u2019s charges against the two were dismissed on Thursday, with the trial scheduled for April next year now not happening.<\/p>\n LTC looks to have pumped amid a similar reaction across the altcoin market. While Litecoin\u2019s modest gains are dwarfed by the colossal returns for some of the best performing altcoins today \u2013 including Solana and Bitcoin SV \u2013 the bullish flip has analysts pointing to a potential retest of the psychological $100 level if upward momentum holds.<\/p>\n BTC breaking higher on further positivity could see Litecoin push for year-to-date highs before a bull market sets in a parabolic rally.<\/p>\n The post Litecoin (LTC) spikes as Bitcoin hits $30k<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Litecoin price jumped 4% to above $64 on Friday morning. LTC was up as positive sentiment permeated the altcoin market amid Bitcoin\u2019s rally to $30k. Litecoin (LTC) rose more than 4% early on Friday amid a positive reaction across the altcoin market to Bitcoin\u2019s fresh spike to $30k. LTC traded to intraday highs of $64 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[103],"tags":[],"class_list":["post-1709","post","type-post","status-publish","format-standard","category-litecoin"],"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=1709"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1709\/revisions"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=1709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=1709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=1709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Why is Litecoin price up today?<\/h2>\n
\u2013 Record 76.2% of supply held by long-term holders
\u2013 Governments mining it
\u2013 Lightning Network hits $150M+
\u2013 You can buy a burger at McDonalds with it<\/p>\n