Litecoin Price Drops 12% in Major Bearish Move

Litecoin Experiences Significant Daily Decline

Litecoin (LTC) registered a substantial drop, trading at $57.52, which marks an 11.88% decrease for the day. According to data from the Investing.com Index, this represents the most significant single-day percentage loss for the cryptocurrency since January 31.

Broader Crypto Market Downturn

The bearish trend was not isolated to Litecoin. The wider cryptocurrency market also faced downward pressure. Bitcoin (BTC) was reported at $79,118.6, down 4.65%, while Ethereum (ETH) saw a loss of 11.40%, trading at $2,403.28. This widespread decline indicates a broader negative sentiment among investors.

Impact on Litecoin's Market Position

The price drop pushed Litecoin's market capitalization down to $4.60 billion, accounting for 0.17% of the total cryptocurrency market cap. Over the past 24 hours, LTC traded within a range of $57.52 to $65.46. The asset remains 86.30% below its all-time high of $420.00, set in December 2017.

Summary and Outlook

Litecoin's sharp decline, alongside losses in Bitcoin and Ethereum, highlights significant volatility in the digital asset market. Investors will be closely watching for signs of stabilization or further downward movement as market-wide uncertainty continues.

FAQ

Q: What was Litecoin's largest single-day loss recently?
A: Litecoin fell 11.88%, its largest one-day percentage loss since January 31.

Q: How did other major cryptocurrencies perform during this period?
A: Bitcoin fell 4.65% and Ethereum dropped 11.40%, showing a market-wide bearish trend.

Source: Investing.com