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Litecoin Climbs 4% to Top $84, With ETF Odds Growing
The Middle East news might be the immediate catalyst, but spot ETF approval by the SEC could be coming.
Jun 24, 2025, 4:18 p.m.
What to know:
- Litecoin's price jumped 4% to $85.45, holding near $84 on above-average volume, indicating conviction behind the breakout.
- The next catalyst for litecoin's price could be regulatory, with the U.S. SEC reviewing bids for a spot LTC ETF.
- Technically, Litecoin's price is bouncing between $84.00-$84.20 support and $85.30-$85.45 resistance.
Litecoin shook off last week’s slump, rising 4% to an intraday high of $85.45 and then holding ground near $84. The move came on volume above its 20-day average, signaling conviction behind the breakout.
An easing in global stress helped, with a supposed ceasefire between Israel and Iran.
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The next catalyst may be regulatory. The U.S. Securities and Exchange Commission is reviewing two bids for a spot Litecoin ETF.
A green light to such a fund this year, to which Polymarket traders assign an 83% chance, would open LTC exposure to investors betting on crypto through traditional brokerages. Bloomberg analysts see a 95% chance of a spot LTC ETF approval.
Technical Analysis Overview
- Litecoin’s price burst through the $83.40 ceiling backed by 331,459 LTC being traded in a single hour, according to CoinDesk Research's technical analysis data model.
- LTC has since been bouncing between $84.00-$84.20 support and $85.30-$85.45 resistance.
- A descending intraday channel printed lower highs until buyers defended $84.20.
- Holding above $84 keeps $90 in play while a close below $84 risks a slide to $79.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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