Litecoin Price Update

Litecoin price just concluded a bearish week, with recent attempts to bounce back yielding limited results.

Price Movement

Instead, the LTC price dropped below $100. To recap, at $99 earlier, LTC was down by 23% from its highest price in the last 7 days. Following this, it fell another 7.53%, reaching a new low at $96.06 at the time of writing.

This performance indicates that it rapidly approached and fell through its support near the $97 price tag.


The $97 support level signifies that the Litecoin price could potentially bounce back if there is sufficient demand. Conversely, failure to achieve this may lead to further declines.

Market Risks and Uncertainties

Market risks and uncertainties heavily weigh down investor activity. Litecoin was among the top 50 coins experiencing the most significant drops this week. FUD related to recession concerns fueled bearish sentiment, leading investors to adopt a cautious stance.

On-chain data, particularly in the derivatives segment, confirms this outcome. Liquidations fell to the lowest levels recorded this month due to low appetite in that segment. This trend aligns with a decline in Litecoin futures open interest, which peaked at $915.72 million on February 20 but has since dipped to $465.75 million.


Derivatives volumes have decreased by 42.38%, amounting to $690.31 million in the last 24 hours. Spot flows have also maintained a negative trend, consistent since the beginning of the year, with approximately $8.8 million in spot outflows in the last 24 hours.

Whale Activity

The bearish market conditions have caused a significant decline in whale activity. For instance, whale holdings decreased sharply from 244,330 LTC on March 5 to 81,890 LTC by March 7.


Despite this decline, whale activity still experienced a net positive gain, indicating some accumulation during the downturn. However, this accumulation hasn’t been enough to prevent further price declines.

Trader and HODLer Balances

Trader balances increased from 8.06 million LTC at the start of February to 12.19 million LTC by March 7, while cruiser balances dropped from 29.5 million coins to 24.2 million coins.


This shift suggests a growing focus on shorter time frames amid heightened market uncertainty. Meanwhile, long-term holder balances increased slightly from 38.63 million LTC to 39.4 million LTC, indicating that some HODLers are taking advantage of discounted prices. This is significant as this class of LTC investors has been offloading coins since September, potentially signaling anticipation of future price increases in Litecoin.