LTC Explodes 8% Despite Market-Wide Retracement, BTC Rejected Ahead of $116K: Market Watch
Main Idea
Bitcoin's price recovery stalled near $116,000, with most altcoins also declining, except for Litecoin which saw an 8.5% increase.
Key Points
1. Bitcoin's price dropped from $119,000 to under $116,500 after the US Federal Reserve's actions, hitting a three-week low of $112,000 over the weekend.
2. Bitcoin attempted a recovery but was rejected, falling back to $114,000, with its market cap declining to $2.270 trillion and dominance over alts below 60%.
3. Most altcoins followed Bitcoin's decline, with TON and ENA dropping by double digits to $3.3 and $0.58, respectively.
4. Litecoin defied the trend with an 8.5% surge, trading above $120, while MNT saw a 20% increase to nearly $0.9.
5. The total crypto market cap lost about $40 billion in a day, falling back to $3.8 trillion.
Description
Bitcoin’s gradual price recovery was halted ahead of the $116,000 mark as the asset was pushed south by a few grand in the past few hours. Most altcoins are in the red as well, with substantial retracements from TON and ENA. LTC stands in the opposite corner with an 8.5% pump to over $120. BTC Ascent Stopped Bitcoin traded with a tight range most of last week until Wednesday evening, when it slipped from $119,000 to under $116,500 after the US Federal Reserve decided to leave the key interest ra...
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