If you hold Litecoin (LTC), it is definitely worth paying attention to now! Data shows that 78% of Litecoin addresses have held for over a year; these 'veterans' are calm in the bear market, accumulating positions and precisely 'harvesting' near the highs. Recently, the slight decline in long-term holdings reveals a significant signal: everyone is holding back for a big move, waiting for LTC to break through the $200 ceiling!
Election effect, will history repeat itself?
Analysis shows that the price trend of LTC/USD in the fourth quarter of 2024 is surprisingly similar to the post-2020 election bull market!
Looking back at history: In 2020, after the U.S. election, LTC soared from $60 to over $160, experiencing a short-term frenzy.
Comparing to now: The market trend in 2024 is strikingly similar to that year, with prices also experiencing fluctuations before and after the election, and a pattern of rising volume and price has emerged.
If the pattern continues, LTC's price may break $200 in early 2025, which might just be a matter of time. More excitingly, history shows that the 'aftershocks' of the election effect often continue into the first quarter of the new year; this potential upward trend may only be the beginning!
Grayscale + Canary, has institutional capital already ambushed?
The market big players have quietly laid out their strategies; could they have sensed unusual activity?
Grayscale Fund continues to increase holdings: During market lows, Grayscale Fund decisively increased its position by 2.23K LTC, with total holdings breaking 2.02 million coins. This 'bargain hunting' operation reveals their confidence in LTC's long-term value.
Canary Funds targeting ETF: Canary Funds submitted an application for a spot Litecoin ETF! If successful, this will be a key step for Litecoin to enter the mainstream investment market. Unlike many cryptocurrencies that rely on 'VC blood transfusions,' Litecoin's perfectly distributed supply mechanism significantly reduces manipulation risks, making it a 'digital silver' for investors.
Long-term holders' perseverance
From the Litecoin holding chart, the operation technique of long-term holders (LTH) selling at high points and accumulating at low points is considered 'textbook level.' However, recent data shows that the decline in holdings of this group is much smaller than in previous cycles, indicating that everyone is still optimistic about the future market.
Interestingly, the behavior of short-term traders ('tourists' and 'traders') is more intense, reflecting sensitivity to price fluctuations, but it has not shaken overall market confidence.
LTC hitting $200 is worth looking forward to!
Whether from the cyclicality of election market trends or the strategic increase in institutional holdings, Litecoin's current momentum is hard to ignore. Coupled with the potential driving force of ETFs, whether Litecoin can break through the $200 mark in early 2025, or even reach new heights, will be a major event closely watched by all crypto investors!
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