LTC Explodes 8% Despite Market-Wide Retracement, BTC Rejected Ahead of $116K: Market Watch

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 rates unchanged for the fifth consecutive time.

Although it recovered some ground on Thursday, the bears resumed control and pushed it south hard in the following days. BTC broke below the lower boundary of its trading range and dumped to $112,000 during the weekend, which became its lowest price tag in over three weeks.

The bulls managed to defend that level, and didn’t allow another plunge to and under $110,000. In fact, BTC started to recover some ground gradually over the next few days and jumped to just over $115,600 yesterday.

However, it couldn’t continue any further, and the subsequent rejection has pushed it to $114,000 as of now. Its market cap has declined to $2.270 trillion on CG, and its dominance over the alts is below 60% once again.

LTC Defies the Odds

Most altcoins have followed BTC on the way down, led by notable price losses by TON and ENA. Both have dropped by double digits on a daily scale, to $3.3 and $0.58, respectively. XLM, HBAR, and XMR are also well in the red

SUI, LINK, ADA, HYPE, BNB, DOGE, and XRP are also slightly in the red, while ETH, SOL, and TRX have posted insignificant gains.

Litecoin has seen an impressive 8.5% surge over the past day, and it now trades above $120. MNT has stolen the show, surging by 20% to almost $0.9.

The total crypto market cap has lost about $40 billion since yesterday’s top and is back to $3.8 trillion on CG.