Bitcoin stable at $ 118 while Litecoin floats 16%

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Bitcoin Holds Steady Around $118k, While Litecoin Sees a Significant Surge

The cryptocurrency market continues to navigate a dynamic landscape, with Bitcoin maintaining its position around the $118,000 mark. Currently priced at $118,677, Bitcoin has experienced a modest 0.5% uptick in the last 24 hours. While this provides a slight breath of fresh air for investors, Bitcoin has essentially traded sideways over the past week, showing little overall gain.

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After briefly piercing the $123,000 level on July 14th, following a break above the $110,000 resistance, Bitcoin faced a correction that pulled it back below $116,000. Since then, it’s been a tug-of-war between bulls and bears, with attempts to breach $121,000 failing and the price settling around the current $118,000 level.

Bitcoin’s market capitalization currently sits at $2.344 trillion, representing 59.4% of the total cryptocurrency market. Despite the price consolidation, Bitcoin’s dominance remains robust compared to the beginning of the month.

Altcoins in the Spotlight: Litecoin Leads the Charge

The altcoin market is showing more pronounced movement, with Litecoin (LTC) emerging as a star performer. It has seen a gain of over 16% in the last 24 hours, trading above $116. This makes LTC the best-performing cryptocurrency among the top 50, invigorating longer-term investors.

Ethereum (ETH) is also showing upward momentum, rising by nearly 5% to trade above $3,700. BNB is showing a similar upswing of 5%, while TRX and XRP are experiencing slight decreases. Sui and Link are also in positive territory, up about 3% each, continuing the bullish trend among the larger altcoins.

Looking beyond the top tier, ENA and XDC have posted impressive gains, both enjoying double-digit percentage increases. On the other side of the spectrum, BGB and Sky have each declined by roughly 3%, highlighting the individual price swings occurring across the broader crypto ecosystem outside of the top 20.

The overall cryptocurrency market capitalization remains stable at approximately $3.95 trillion. This reflects a balancing act between Bitcoin’s consolidation and the positive movements seen in select altcoins, especially Litecoin.

Disclaimer: The opinions expressed in this article are for informational purposes only and should not be considered financial, investment, or other professional advice. Trading and investing in cryptocurrencies involves significant risk of financial loss. Always conduct thorough research and consult with a qualified financial advisor before making any investment decisions.