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Litecoin (LTC) is often called “digital silver” to Bitcoin’s (BTC) “digital gold.” Since January 1 of this year, LTC has rallied by almost 53%. Moreover, the asset has gained as much as 22.2% over the previous week. On the yearly charts, the token is up by 114.1%. It is pretty clear that the crypto markets are currently following Bitcoin (BTC). The latest positive sentiment around BTC is attributed to BlackRock’s filing of a Spot Bitcoin ETF. However, Litecoin (LTC) also has a few positive developments in its corner. Firstly, LTC will undergo its halving event on August 10, almost a month from now. The event will cut LTC rewards in half. Usually, halving events lead to a surge in price as the supply slowly reduces. Many expect LTC to follow the pattern and see a halving rally soon. Also Read: What to Expect from LTC Halving in 2023? Moreover, Litecoin’s (LTC) hash rate has almost doubled since July 2022. LTC’s hash rate curr...

Bitcoin and most major altcoins are selling-off on rallies, proof that investor sentiment remains negative in the short-term. The United States stock markets are trying to recover on reports that the debt ceiling talks are showing promise and a debt default may be avoided. However, the same enthusiasm is not seen in the cryptocurrency markets. Bitcoin (BTC) has slipped back below the $27,000 support on May 17, indicating that buyers are struggling to sustain the relief rallies. Institutional investors seem to be booking profits due to the macro uncertainty. CoinShares’ Digital Asset Fund Flows Report shows a total outflow of $200 million from digital asset investment products in four consecutive weeks. Daily cryptocurrency market performance. Source: Coin360 While the short-term picture remains negative, the chart structure on Bitcoin has not been broken. Bitcoin has corrected about 15% from its local high of $31,000 made on April 14 but it remains above $25,000, indicating that the w...