Litecoin (LTC) experienced a remarkable 24% price surge in the last 24 hours, offering a rare glimmer of positivity in the broader bearish crypto markets. This unexpected rally comes as institutions accumulate LTC in anticipation of a potential ETF launch. The price increase positions Litecoin as a standout performer during a period marked by souring risk sentiment and economic challenges in the US and Europe.
The rise in Litecoin's price is set against a backdrop of bearish sentiment in the crypto markets, which has been exacerbated by increasing core inflation pressures in the US. These pressures reflect a general lack of strength within the US economy, contributing to a souring risk sentiment. Furthermore, US tariffs on European goods have been weighing heavily on bids, adding to the economic strain.
In Europe, disinflation is becoming more widespread; however, prices continue to rise rapidly in the services sector within the Eurozone. In France, inflationary pressures appear to have eased somewhat in February, aided by a cut in regulated electricity prices. This temporary relief highlights ongoing economic vulnerabilities in the region.
The foreign exchange market mirrored these tensions as the EUR/USD fell nearly nine-tenths of one percent on Thursday, slipping back below 1.0400 for the first time in almost two weeks. This decline underscores a weak technical stance developing in the Fiber pair, influenced by broader economic uncertainties and US tariffs.