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COINTURK NEWS > Technical Analysis > Bitcoin Dips Below $105K: Can LINK and LTC Rally? Find Out!
Technical Analysis

Bitcoin Dips Below $105K: Can LINK and LTC Rally? Find Out!

In Brief

  • Bitcoin's price decline raises questions about altcoin potential.

  • LINK Coin might benefit from U.S. crypto strategy, according to Michael Poppe.

  • LTC gains interest amid favorable ETF application circumstances.

Ömer Ergin
Ömer Ergin 4 months ago
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Bitcoin (BTC) $105,501 price dipped below $105,000 after a recent downturn in response to U.S. data. With only hours left in January, crypto investors have yet to see the desired movements in altcoins. Ethereum (ETH) $2,524 remains frustratingly below $3,410. The question arises: which altcoin will benefit most from the U.S. cryptocurrency strategy?

Contents
Is LINK Coin Set to Surge?Litecoin (LTC) Gains Attention

Is LINK Coin Set to Surge?

Before Trump assumed the presidency, he initiated his own meme coin, draining liquidity from altcoins and triggering the initial wave of declines. Following this, the delay in cryptocurrency orders led to another drop. The DeepSeek incident further contributed to the decline, causing altcoins to reach new lows amidst three significant downturns in just 11 days.

Despite the turmoil, Michael Poppe remains optimistic, arguing that the U.S. cryptocurrency strategy will primarily support LINK Coin.

“Banks may provide cryptocurrency custody services in the U.S. They will likely enter the DeFi space in the coming years. What do they want? Data transmission and oracle services, which LINK Coin provides. Given that a higher low has been established technically, I believe we will see significant expansion in the next six months.”

Chainlink $16 is the leading player in providing price feeds and blockchain oracle services. It has also facilitated institutional operations during bear markets with products like CCIP. With institutions and banks entering the crypto space, LINK Coin’s growth would not be surprising. Poppe anticipates a substantial rally for LINK Coin against BTC.

Litecoin (LTC) Gains Attention

Recently, LTC has emerged as one of the favored altcoins due to ETF applications. The new crypto-friendly SEC administration gives hope to those awaiting ETF approvals. Compared to the previous administration, which had a negative view of cryptocurrencies, the current management’s approval for BTC and ETH ETFs suggests that LTC may also receive a favorable outcome.

In a recent market analysis, Carl noted the following about LTC:

“LTC has formed a bullish flag on the hourly chart and is poised for a potential breakout. The short-term target is the resistance at $139.70. If we surpass this level, the second target is $146.55.”

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 31 January, 2025 - 7:35 pm 31 January, 2025 - 7:35 pm
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