**Litecoin Surges Amid ETF Buzz**

Litecoin (LTC) saw a 7.5% jump in the past 24 hours, reaching around $70.50 on Oct. 16. This spike followed Canary Capital's filing for a spot Litecoin exchange-traded fund (ETF). If approved, the ETF aims to mirror the CoinDesk Litecoin Price Index, potentially attracting more institutional investors.

Crypto analysts are bullish, with some predicting LTC could hit $200-$300 in the long term. Open interest in Litecoin futures also hit a three-month high, signaling trader optimism. However, technical indicators suggest potential downside risks if LTC fails to break key resistance levels.