The crypto market stabilizes ahead of the deadlines for the spot ETF funds for Litecoin, Solana, Ripple XRP, Dogecoin, and Cardano

  • The cryptocurrency market stabilizes after a turbulent week, ahead of multiple deadlines for ETF funds.

  • The final deadline for the U.S. Securities and Exchange Commission for the ETF funds for Litecoin, Solana, XRP, Dogecoin, and Cardano is set for October.

  • Historically, October has remained bullish for six consecutive years.

The total market capitalization of cryptocurrencies remains stable at $3.8 trillion at the time of this report's publication on Monday, following a 2.29% increase on Sunday. This stability, following massive liquidation spikes exceeding $3 billion on September 22 and $1 billion on Thursday, positions the market for upcoming approval dates from the U.S. Securities and Exchange Commission for multiple ETFs.

The cryptocurrency market may recover amid multiple ETF deadlines

The final deadline for the U.S. Securities and Exchange Commission for the Litecoin ETF is Thursday (October 2), submitted by various investment firms such as Canary Capital, Grayscale Investments, and CoinShares International. This will mark the beginning of multiple ETF deadlines, including Solana, XRP, Dogecoin, and Cardano, later in the month.

These funds were introduced under the Securities Act of 1933, which may take up to 240 days for approval, unlike the recently launched ETFs on Solana, XRP, and Dogecoin by Rex Shares and Ospray Funds, which were introduced under the Investment Company Act of 1940. This difference helped secure rapid approvals within 75 days.

According to Bloomberg ETF expert James Seyfarth, these funds have a 90% chance of approval or more. If approved, the news may boost investor sentiment, as previously noted.

In addition to recovery opportunities, CoinGlass data shows that Bitcoin has remained positive in October for six consecutive years. Given the high likelihood of ETF approvals amid the pro-crypto stance of the U.S. administration under President Donald Trump, the broader cryptocurrency market may ignite a risk-on sentiment with institutional investors participating.

Monthly Bitcoin returns. Source: CoinGlass

Litecoin looks to a bullish recovery ahead of the ETF date

Litecoin is above the 200-day exponential moving average at $103 at the time of this report's publication on Monday, following a 2.22% increase on Friday and 2.32% on Sunday. The recovery faces resistance at the 61.8% Fibonacci retracement level at $106, drawn from a high of $147 on December 6 to a low of $63 on April 7.

Polymarket data indicates a 90% chance of approval for the Litecoin ETF, with a market size of $82,852, indicating positive market sentiment. If the Litecoin ETF is approved on Thursday, increased potential demand may drive the LTC price toward a Fibonacci retracement level of 78.6% at $122.

The market approval of the Litecoin exchange-traded fund. Source: Polymarket

Technical indicators on the daily chart suggest reduced selling pressure as the Relative Strength Index (RSI) rebounds above the oversold region to 41. If the RSI returns above the midpoint at 50, it could be an early signal of renewed upward movement.

Additionally, the Moving Average Convergence Divergence (MACD) indicator is approaching its signal line as the red histogram bars decrease, indicating a loss of bearish momentum. A potential crossover leading to a green histogram above the zero line may indicate a trend reversal.

The daily chart for LTC/USDT.

However, if LTC fails to hold above the 200-day exponential moving average at $103, it may drop to a 50% Fibonacci retracement level at $96.

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