Litecoin (LTC) climbs 14 months above $100, Bitcoin (BTC) recovers $30,000 (Weekend Watch)

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Bitcoin had a short-lived rollercoaster ride yesterday, but recovered $30,000 after dropping to a 10-day low.

Still, its dominance over altcoins has dwindled a lot on a daily basis, as some such as LTC, LDO, VET, and BSV have soared.

BTC dumping and pumping

After last week’s massive price spike, which took bitcoin from $26,500 to over $31,000 at one point, the cryptocurrency calmed down and remained in a tighter range between 30 $000 and $31,000.

It attempted to overcome the latter yesterday when bulls drove it to a daily high of $31,250. Despite failing, it initially only lost $200 and stayed above $31,000 for a few hours.

However, that all changed after a WSJ report was published claiming that the SEC considered recent filings by BTC Spot ETF, BlackRock, and Fidelity to be inadequate.

Bitcoin reacted with an immediate price drop that took it south from $1,500 to a 10-day low of $29,500. However, the bulls intensified once again and recouped almost all of the losses, with BTC currently sitting around a big high.

Its market capitalization stands at almost $600 billion right now, but its dominance on the alts has taken a major hit and dipped below 50%. In fact, the metric is down nearly 1% in the past 24 hours.

BTCUSD. Source: TradingViewLTC Sees 14-Month High

CryptoPotato reported yesterday that Litecoin price action has taken it to its own multi-month high of just under $100. This comes as the networks hash rate has moved to an ATH ahead of the next halving. However, the landscape for LTC holders has again changed for the better in the past 24 hours, with the asset surging above $110 for the first time since April 2022.

Dogecoin, Polkadot, Ethereum Classic, and Lido DAO are the other notable performers in the larger-cap alts, with gains of up to 7% daily.

BitcoinSV surged the most among the top 50 alts, surging 18% to over $50.

ETH and BNB are up 1.5% and sit above $1,900 and $240 respectively.

The total crypto market capitalization remained relatively flat at just under $1.2 trillion.

Presentation of the cryptocurrency market. Source: Quantify Crypto SPECIAL OFFER (sponsored) Binance Free $100 (exclusive): Use this link to sign up and receive $100 free and 10% fee discount on Binance Futures for the first month (terms).

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Cryptocurrency charts by TradingView.

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