Litecoin Leads the Charge as BTC Fails to Break Above $68k

TL;DR

• Litecoin is the best performer amongst the top 100 cryptocurrencies by market cap, up 5% in the last 24 hours.

• BTC failed to break the $68k resistance level and is now trading below $67k per coin.

LTC Surges 5% as Major Altcoins Falter

LTC, Litecoin’s native coin, is the best performer amongst the top 100 cryptocurrencies by market cap. It is up 5% in the last 24 hours and trades at $70.61 per coin. There is no major catalyst behind Litecoin’s positive performance, as other major altcoins underperform.

Meanwhile, Bitcoin, the leading crypto by market cap, failed to break past the $68k barrier on Tuesday as it surged to a nearly three-month high of $67,800 before tumbling back to the $65,000 level.

At press time, BTC is trading at $66,924 and could still retest the resistance level just above $68k in the short term. Market analysts are predicting a Bitcoin rally to a new all-time high as Trump maintains odds of becoming the next U.S. president. 

In an email to Cryptowisser, Bitfinex analysts pointed out that Bitcoin’s price could soar in the near term. They said,

“The market remains reactionary, with future movements likely dependent on whether Bitcoin can decisively pass the realized price of short-term holders. Until then, traders should anticipate potential corrections but also be prepared for a stronger recovery bounce from lower levels, given the underlying market resilience.”

Despite altcoins underperforming, the total cryptocurrency market cap has touched $2.3 trillion, up by less than 1%.