Litecoin (LTC) is experiencing a potential bullish recovery after a December downturn. Whales have been actively accumulating LTC, driving price increases and signaling positive market sentiment. Increased trading volume and positive funding rates in the derivatives market further support this bullish outlook.
Litecoin is attempting another bullish recovery after an overall bearish performance in December. It could be on the verge of a significant rally courtesy of whale activity . For context, LTC dropped from its $147 December high to a low of $86.69, equivalent to a 40.75% dip. However, price has been consolidating between $96 and $105 which happened to fall within the 0.5 and 0.618 Fibonacci range on the pullback. Litecoin had a $105.
85 price tag at the time of writing after bouncing back into the green in the last four days. But can the Litecoin-native crypto carry the same momentum higher than its 2024 highs? Litecoin on-chain stats revealed that whales have been buying the recent Litecoin dip. The group held roughly 7.44 million LTC at the start of December, which was equivalent to 9.79% of the total supply. The investor category dipped slightly from 29.8 million LTC at the start of December to 28.31 million LTC at the end of the month. Meanwhile, retail accumulated slightly from 38.64 million coins to 38.67 million coins during the same period. Large holder flows concluded the year 2024 with a 65% uptick in inflows in the last seven days. Large holder inflows peaked at 435,260 LTC on the 31st of December, while outflows were notably lower at 117,340 LTC. The large holder flows reflected the bullish outcome in the last few days, indicating that whales were at the forefront of the rally. Strong demand could put the cryptocurrency on the path to a bullish first week of January, and it may also underscore LTC’s 2025 outlook. Funding Rates also confirmed healthy activity in the derivatives segment. There was a notable uptick in positive LTC Funding Rates in the last three days. Volume was up by 11.40% to $596.94 million in the last 24 hours, indicating renewed interest in Litecoin. This was also backed by a 2.12% uptick in Open Interest to $439.10 million
Litecoin LTC Whale Activity Bullish Recovery Cryptocurrency Market
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