Why Litecoin Is Moving

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.

This uptick comes as Bitcoin approaches the $100,000 milestone, which has significantly boosted investor confidence across the digital asset landscape.

What To Know: Polymarket bettors are closely watching Bitcoin's trajectory this November, with a 79% probability of surpassing $100,000. This bullish outlook on Bitcoin has a cascading effect on altcoins like Litecoin, which often mirrors Bitcoin's market movements.

The anticipation of Bitcoin reaching new heights has attracted substantial institutional interest, further enhancing market optimism.

Read Also: Why Bitcoin Cash Is Up 15% This Week

Additionally, the recent influx of $1.84 billion into U.S. Bitcoin spot ETFs over the past three days underscores 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 seek diversification within the crypto space, Litecoin's reputation as an alternative to Bitcoin may make it an attractive option.

Read Also: Bitcoin Close To $100,000 — Could It Happen Today?