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Litecoin Defies Market Trends, Bitcoin Recovers From Drop to $82K (Market Watch)
The cryptocurrency market has seen a significant shift in the past 24 hours. While most major cryptocurrencies have taken a hit, Litecoin has defied market trends and posted impressive gains. Meanwhile, Bitcoin has recovered from its drop to $82K.
Bitcoin’s recent plunge can be attributed to a combination of factors, including concerns about rising inflation, controversy surrounding the Bybit hack, and increased uncertainty surrounding the global economy. The asset dropped as low as $82,100 on Bitstamp before rebounding slightly to trade above $86,000.
Ethereum, on the other hand, has continued its downward trend, dropping towards $2,350. This marks a 5% decline for the asset since yesterday. Other major cryptocurrencies such as XRP, BNB, DOGE, ADA, TRX, XLM, SUI, and TON have also joined Ethereum in the red zone.
However, Litecoin has bucked this trend with gains of over 3%, outperforming other larger-cap alts like AVAX and APT. APT’s impressive rally can be attributed to rumors surrounding a potential ETF listing, which sparked massive buying pressure.
