Litecoin LTC/USD has surged 8.9% to $89.59 over the past week, benefiting from a wave of positive sentiment sweeping the cryptocurrency market.
Surging 8.9% to $89.59 over the past week, Litecoin's (CRYPTO: LTC) performance has been closely tied to the broader positive sentiment in the cryptocurrency market.
This uptick coincides with Bitcoin's approach to the $100,000 milestone, which has instilled a wave of optimism among investors throughout the digital asset landscape.
Polymarket bettors are closely watching Bitcoin's trajectory this November, with a 79% probability assigned to the cryptocurrency surpassing $100,000. This bullish outlook on Bitcoin bodes well for altcoins like Litecoin, which often mirror Bitcoin's movements in the market.
Anticipation of Bitcoin scaling new heights has also attracted significant institutional interest, further bolstering optimism in the market.
Moreover, the recent entry of $1.84 billion into U.S. Bitcoin spot ETFs over the past three days highlights growing institutional trust in cryptocurrencies. This surge in ETF inflows not only supports Bitcoin but also provides liquidity that benefits the broader crypto ecosystem, including Litecoin.
As investors prioritize diversification within the crypto space, Litecoin's standing as an alternative to Bitcoin could make it a compelling choice.
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