Litecoin Surges 16% In 1 Week Ahead Of Imminent ETF Approval

Litecoin (CRYPTO: LTC) rose 15.8% over the past week as a U.S. government shutdown weighed on the dollar, lifting digital asset performance.

Trader Notes: Crypto trader DonAlt suggests Litecoin has upside potential, signaling a possible short-term pump.

Elliottwave Forecast indicates LTC may see a corrective bounce, but the overall bias remains bullish as long as LTC stays above $63.21.

Statistics: Polymarket prediction markets show a 96% probability for a Litecoin ETF approval in 2025, up from 90% on Sep. 29.

Coinglass data reports LTC open interest spiked to $970.7 million, the highest since September. In the past 24 hours, liquidations totaled $988,000, with $769,000 in shorts.   

Community News: Bloomberg analyst James Seyffart noted on Thursday that the CanaryFunds Litecoin ETF filing was technically due under the 19b-4 process on Oct. 2, but the SEC now prefers filings under Generic Listing Standards, making the original deadline less relevant. Despite this, a launch is still expected soon.

Eleanor Terrett highlighted the SEC's limited response capacity due to the shutdown adding that she remains unclear what the remaining staff at SEC “is working/what their priorities are at the moment.”

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