Cryptocurrency Markets Gain $70 Billion Following a $4K Daily Surge in Bitcoin (BTC) Value (Market Update)
Bitcoin's price surged over $4K within 12 hours, bringing an abrupt end to its recent price correction. This increase, along with notable gains in several altcoins, contributed to the cryptocurrency market's $70 billion rise.
The positive trend aligns with the recent announcement of a forthcoming meeting between U.S and China regarding their ongoing trade war. Bitcoin's market capitalization is nearing $1.93 trillion, and it continues to dominate the market with a 62% share. Meanwhile, Litecoin (LTC) rebounded with a 13% surge after the SEC delayed its decision on an LTC ETF application.
Other cryptocurrencies like HYPE, CRO, AAVE, SUI, LINK, DOGE, ADA, BCH, and HBAR also reported gains. The total crypto market cap now stands above $3.1 trillion.
💥✨️✳️ Litecoin (LTC) Defies the SEC ETF Delay With a 10% Rally
‼️READ BELOW‼️
Layer-1 (L1) coin LTC is today’s top gainer, climbing 10% in the past 24 hours. The double-digit surge comes following a regulatory setback, as the US SEC delayed its decision on Canary Capital’s application for a spot Litecoin ETF.
However, the current LTC token upward momentum may be on shaky ground as technical indicators suggest a potential bearish reversal.
On Tuesday, after the SEC called for public comments on Canary Capital’s application for a spot Litecoin ETF, LTC plunged to a two week low of $81.03.
However, the resurgence in trading activity across the broader crypto market over the past day has helped LTC rebound from this dip. It now trades at $91.68, with daily trading volume exceeding $850 million.
But, there is a catch. Key technical and on chain indicators suggest a potential bearish reversal in the short term, as buyer exhaustion appears on the horizon.
For example, despite LTC’s rally, its Chaikin Money Flow (CMF), which measures buying and selling pressure, has declined, forming a bearish divergence. Readings from the daily chart show that this momentum indicator is declining and poised to breach the center line.
A CMF bearish divergence occurs when the price of an asset makes higher highs while the indicator makes lower highs. This suggests that buying pressure is weakening despite rising prices. The trend indicates a potential reversal or loss of upward momentum in the LTC market.
Moreover, on chain readings show that LTC’s Network Realized Profit/Loss (NPL) is rising, indicating that coin holders are sitting on unrealized gains and may be tempted to sell. At press time, the NPL sits at 1.7 million.
$LTC
{future}(LTCUSDT)
#ALTCOIN SURGE OR FAKEOUT? HEX, LTC & STX IGNITE THE MARKET WHILE VIRTUAL CRASHES!
Today’s crypto landscape is flashing green—and some names are stealing the show:
• #HEX leads the charge with a jaw-dropping +24.6% rally, dominating the charts.
• $LTC isn't far behind, bouncing back strong with a +13.2% gain.
{spot}(LTCUSDT)
• $STX adds fuel to the fire, climbing +10.2% as bullish sentiment spreads.
{spot}(STXUSDT)
• WLD and $FET stay hot, delivering +8% and +6.1% moves respectively.
{spot}(FETUSDT)
But not all is rosy—VIRTUAL plunged -13.5%, a sharp reminder of how fast tides turn.
Altcoins are moving fast—set tight stop-losses, manage risk, and follow the momentum.
HKD Surge and Bitcoin Bounce: Asia’s Wild Market Ride 👀
The piece dives into two big market moves in Asia. First, the Hong Kong dollar (HKD) spiked toward the top of its pegged range against the US dollar, hitting 7.75. This forced the Hong Kong Monetary Authority to sell HKD 73.3 billion to keep the peg steady, which tanked HIBOR rates and messed with hedge funds’ carry trades. If the HKD keeps pushing, we might see more chaos. Second, the FX market shake-up, plus rumors of US-China trade talks cooling off, sparked a risk-on vibe. Bitcoin jumped 3% to $97,000, helped by New Hampshire’s new law allowing 5% of state funds to go into crypto (just Bitcoin for now). It’s a small state move but a big deal for crypto’s legitimacy.
This is a classic case of markets being a chaotic web—one currency wobble in Taiwan sets off a chain reaction in Hong Kong, and suddenly Bitcoin’s riding the wave. The HKMA’s intervention shows how tightly they’re guarding that peg, but if pressure keeps up, things could get messy fast. The Bitcoin bump is cool, especially with New Hampshire’s bold move. A state-level crypto reserve? That’s a game-changer for mainstream adoption, even if it’s just a toe in the water. But let’s be real—rumors of trade talks driving markets feel like hopium. Markets are jittery, and I wouldn’t bet on smooth sailing ahead.
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