Litecoin’s 16.4% 24-hour surge is driven by a $100M institutional treasury allocation and bullish technical momentum, amplified by altcoin rotation as Bitcoin dominance weakens.

$100M institutional investment by MEI Pharma positions LTC as a treasury asset.

Technical breakout above key resistance with RSI at 82 signals overbought momentum.

Altcoin rotation accelerates as Bitcoin dominance drops to 59.4%.

Deep Dive

1. Primary Catalyst: Institutional Adoption

MEI Pharma allocated $100M to Litecoin as its primary treasury reserve, advised by crypto market maker GSR (MEI Pharma). This marks the first institutional-grade adoption of LTC, mirroring MicroStrategy’s Bitcoin strategy. The announcement triggered a 12% intraday price spike (to $115) and lifted MEI Pharma’s stock 83% pre-market.

2. Technical Context: Overheated Indicators

RSI14 at 82.04 (overbought), MACD histogram bullish at +1.97.

Cleared Fibonacci extension target at $123.58 with volume up 93% to $2.04B.

Price now tests 127.2% extension level ($123.58), last breached in March 2025.

3. Market Dynamics: Altcoin Season Brewing

Bitcoin dominance fell 2.8% in a week to 59.4%, the steepest drop since February 2021 (Finbold). The CMC Altcoin Season Index surged 157% monthly, with Litecoin leading large-cap gainers.

Conclusion

Litecoin’s rally combines a landmark institutional endorsement, technical FOMO, and sector-wide capital shifts. While short-term indicators suggest overheating, the MEI Pharma deal could catalyze copycat treasury strategies.

Will Litecoin’s “digital silver” narrative gain traction if Bitcoin’s dominance continues eroding?