Long-Term Litecoin (LTC) Holders Anticipate the Cryptocurrency to Break Through $200 Amid Bullish Indicators

Analysts have highlighted current trends in holder behavior, which depict similar patterns in previous years when LTC surged.

Litecoin (LTC) price has been closely monitored by investors, especially long-term holders, amid bullish indicators and anticipation of a potential breakout.

According to IntoTheBlock, Long-Term Holders (LTHs) account for 78% of Litecoin addresses, having held their coins for over a year. These investors are usually net buyers during bear markets and net sellers as prices peak.

However, data reveals a different trend among LTC long-term holders in the current market cycle. While LTHs typically reduce holdings at market tops, preparing to sell, Litecoin’s LTHs are showing a minor increase in holdings.

This trend indicates that many long-term investors are expecting further surges and are not fully exiting at current price levels. Rather, LTHs appear to be anticipating higher future valuations.

Meanwhile, Litecoin price is seeing intense price shifts, with the ‘Cruisers’ and ‘Traders’ categories experiencing more volatility. Currently, Litecoin’s price is trading at $93.94, down 13.9% in the last 24 hours.

The ongoing volatility reflects short-term trading behaviors in response to market conditions. Thus, the sentiment among Litecoin LTH to hold out for larger profits despite the market’s volatility suggests a strong belief in its long-term value proposition.

Meanwhile, LTC LTHs latest 2024 data mirrors the 2020 post-election pattern. Both eras began with significant price volatility before and soon after the U.S. elections, which were marked by price increases.

Litecoin price rallied from around $60 in late 2020 to a peak above $160 in early 2021. Interestingly, the price pattern in the fourth quarter of 2024 showed similarities with the price rapidly ascending post-election, indicating the potential for further spikes.

In the past, the post-election gains were carried into the new year. If this pattern holds this year, Litecoin could potentially breach the $200 mark by early 2025.

Currently, the Litecoin chart shows strong buy signals and increased trading volume, which are similar to 2020. This move showcases Litecoin’s cyclical nature and the amplification of broader market sentiments during election periods.

As reported by CNF, market analysts CauseWereCrypto predicted that LTC could soon reach $150.

The expectations for the launch of a Litecoin Exchange-Traded Fund (ETF) gained momentum after Canary Capital Funds filed.

According to a CNF report, Canary Capital filed an s-1 with the US Securities and Exchange Commission (SEC) for a Litecoin ETF in October. This move aligns with LTC’s positioning as the “Digital Silver” in the cryptocurrency space.

Litecoin is known for its “perfect distribution,” which reduces the potential for market manipulation. Additionally, LTC has a supportive community, which ensures stability in holdings and resistance against selling at lower prices.

All of these factors contribute to the narrative that LTC could be a prime candidate for an ETF.