Litecoin Breaks Out to $140 as Bitcoin Finds Support After Recent Dip

Bitcoin recently dipped to a two-week low of $93,500 but has since rebounded, currently trading approximately $3,000 higher. In tandem, the majority of altcoins have also seen a recovery, with Litecoin making significant gains during this period.

After reaching $99,000 on February 14, Bitcoin has faced challenges in sustaining its upward momentum. Initial gains were swiftly counteracted by selling pressure, driving the price down to $97,000, where it remained over the weekend. Monday saw further declines, but the support level of $95,000 held firm.

Although another attempt to surpass $97,000 on Tuesday was unsuccessful, Bitcoin's price fell to below $93,500. This marked its lowest point since the early February drop below $92,000.

Despite prevalent bearish trends, Bitcoin has recovered modestly to above $96,000, with its market capitalization exceeding $1.9 trillion. However, its market dominance has decreased slightly to just under 58%, owing to certain altcoins posting notable daily gains.

While many altcoins experienced significant declines yesterday, most are now showing modest daily increases. This includes Ethereum (ETH), Solana (SOL), Binance Coin (BNB), TRON (TRX), and Stellar (XLM). Conversely, XRP, Cardano (ADA), Dogecoin (DOGE), Chainlink (LINK), and Avalanche (AVAX) have recorded slight downturns. Among the standouts, Litecoin has gained over 10%, currently trading near $140 amid positive market forecasts.

Other significant gainers among large-cap altcoins are Aptos (APT) with a 13% increase and Tao (TAO) with a 7.5% rise. The total cryptocurrency market capitalization has rebounded to roughly $3.3 trillion, a $100 billion increase from the previous day's low.

Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.