Litecoin Steals the Show as Bitcoin Recovers From 2-Week Low (Market Watch)

Bitcoin’s underwhelming price actions drove the asset south to a two-week low of $93,500 yesterday, but it managed to react well and now sits almost three grand higher.

Most altcoins have also bounced off following yesterday’s crash, but LTC has taken the main stage by outperforming the rest.

BTC Recovers

Ever since the surge toward $99,000 on Valentine’s Day, the primary cryptocurrency has been struggling to maintain its composure. At the time, the bears quickly rejected its breakout attempt and pushed it south to $97,000, where it spent most of the weekend.

Monday began with another price slip, but the $95,000 support held the line. After another unsuccessful attempt to overcome $97,000 on Tuesday, bitcoin encountered more pain with a price slump to under $93,500. This became its lowest price tag since the early February crash when it plunged below $92,000.

Although there are numerous bearish signs at the moment, BTC managed to bounce off and now sits above $96,000. This is a minor daily increase, but it has helped its market cap surge past $1.9 trillion.

Its dominance over the alts has slid slightly to just under 58%, as a few of them have marked impressive gains over the past day.

LTC Seizes the Spotlight

As mentioned above, many altcoins crashed hard yesterday. On a daily scale, though, most of them are slightly in the green, including ETH, SOL, BNB, TRX, and XLM. In contrast, XRP, ADA, DOGE, LINK, and AVAX have posted minor declines.

Litecoin stands in a league of its own again. LTC has soared by over 10% in a day and now sits close to $140 amid even more bullish predictions. The other notable gainers from the larger-cap alts include APT (13%) and TAO (7.5%).

The total crypto market cap is close to $3.3 trillion once again, which is about $100 billion higher than yesterday’s low.