Litecoin

United

Jerome Powell

Chair

Read

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
According to on-chain analytics platform IntoTheBlock, 78% of <a href="https://u.today/litecoin-ltc-forms-rare-golden-cross-potential-scenarios" rel="noopener noreferrer nofollow">Litecoin (LTC)</a> addresses have held their LTC for over a year.
IntoTheBlock indicated that 78% of Litecoin addresses have held their LTC for over a year, typically accumulating during bear markets and selling near peak prices. It made a key observation: there has been a slight decrease in long-term holdings this current cycle, but it is less pronounced than in previous cycles.
"In this cycle, the slight decrease in long-term holdings is less marked than in past cycles," IntoTheBlock <a href="https://x.com/intotheblock/status/1869764398270611746" rel="noopener noreferrer nofollow">wrote</a>, stating that this might indicate that "many holders are expecting further price growth."
<blockquote class="twitter-tweet">
 78% of Litecoin addresses have held their <a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LTC</a> for over a year, typically accumulating during bear markets and selling near peak prices. In this cycle, the slight decrease in long-term holdings is less marked than in past cycles, indicating that many holders are expecting… <a href="https://t.co/nB7YuoYEKv" rel="noopener noreferrer nofollow">pic.twitter.com/nB7YuoYEKv</a>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1869764398270611746?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 19, 2024</a>
</blockquote>
At the time of writing, LTC was down 13.14% in the last 24 hours to $94.43, amid a broader market sell-off and a decline for Litecoin, which is stretching into its third day.
Litecoin broadly started declining after reaching highs of $147.22 on Dec. 5. Litecoin recovered after hitting lows of $101 on Dec. 10. However, the recovery met resistance at Dec. 13 highs of $131 and Litecoin started dropping again. If today closes in red, Litecoin will mark its third straight day of losses, hitting lows of $92.65 in today's trading session.
<h2 id="market-faces-sell-off">Market faces sell-off</h2>
The cryptocurrency market is under selling pressure as the prospect of looser U.S. monetary policy dampened speculative zeal.
On Thursday, investors weighed the most recent weekly unemployment claims, as well as the final third-quarter GDP growth figures in the United States. In the week ending Dec. 14, jobless claims fell to 220,000, lower than the 230,000 predicted by Dow Jones economists.
The <a href="https://u.today/federal-reserve-crypto-reacts-to-feds-crucial-market-comments" rel="noopener noreferrer nofollow">Fed</a> slashed interest rates by a quarter percentage point on Wednesday, to a range of 4.25% to 4.50%, in what was largely expected to be the third consecutive cut, although Chair Jerome Powell struck a hawkish tone on the outlook for next year during his press conference. Fed policymakers upped their inflation outlook and pointed to only two rate cuts in 2025, down from four cuts predicted in September.
On Friday, the Fed's preferred measure of inflation, the November personal consumption expenditures index, will be released, with projections indicating little headway in the fight against rising prices. <a href="https://u.today/litecoin-78-of-ltc-holders-refuse-to-sell-heres-likely-reason" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Litecoin: 78% of LTC Holders Refuse to Sell, Here's Likely Reason

Table of Contents

U_Today

Other articles published on Dec 20, 2024

Crypto liquidations hit $1B as traders were ‘unprepared for bad news’

Cynthia Lummis Proposes 1M BTC Buying FED Strategy Over 5 Years and Holding for 20 Years to Offse...

Bitwise Launches Solana Staking ETP in Europe: What to Know

Discover the Future of Trading with FATTY and Its FatBot, a Tool Poised for the Top 5 in the Market

Emerging-market central banks take action against rising dollar

Leading Analyst Claims WIF Will Replace Dogecoin, While XYZVerse Emerges as the ‘SHIB’ of the Bul...

Join our free newsletter for daily crypto updates!