Bitcoin (BTC) Retraces under October Peaks; LTC Hits a 6-Month High
While larger-cap altcoins and Bitcoin suffer retracements in one day, LTC surged 7% towards a 6-month peak.
BTC lost some of its gains as it dropped under $67,000 following its recent ATH recorded over yesterday’s sessions. Most top altcoins, excluding Litecoin, also faced retracements. LTC saw impressive price increases, tagging another 6-month peak.
BTC Cools above $66,000
Bitcoin had its price around $60,000 three days ago (during weekend sessions). That markets the 3rd consecutive such plummet in one week. Nevertheless, the situation changed within no time, and BTC began surging rapidly. The leading crypto by value skyrocketed towards October highs of $67,000 following a $4,000 increase in one day.
Though the cryptocurrency failed to overpower the level at the initial session, BTC initiated a new surge in the hours that followed, creating new ATHs of $68,700. However, Bitcoin retraced since then, dipping under $67,000. Meanwhile, the crypto’s market cap hovers beyond $1.25 trillion while its dominance over other altcoins surged to 44%.
Altcoin Retraced as LTC Rose
Most alternative coins also saw gains over the past days, some hitting all-time peaks. Ethereum was among the tokens that surged. ETH explored a new peak of around $4,900. However, the leading alt also plummeted since then, trading near $4,700 at the moment.
Other large-cap altcoins also trade in the red. They include Solana, Terra, Shiba Inu, Dogecoin, Ripple, Cardano, Binance Coin, and Polkadot. On the other part, Avalanche had its value surging 3% as it seems ready to hit another all-time peak. However, Litecoin (LTC) led the best performers today. LTC saw its price increasing by 7% in 24 hours, reaching a 6-month high beyond $265.
Other digital tokens that charted impressive gains include Quant (12%), Livepeer (13%), Kadena (22%), IoTeX (35%), and Loopring (52%). The crypto market cap lost nearly $60 billion in one day, though still maintaining beyond $3 trillion (CoinGecko data).
Meanwhile, some analysts believe BTC will drop towards $60K to accumulate momentum for upswings to new ATHs. However, market players appear used to lows and rises in the crypto space. For that reason, the retracement seemed not to bother long-term investors.
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