Litecoin Climbs 4% to Top $84, With ETF Odds Growing
Litecoin shook off last week's slump, rising 4% to an intraday high of $85.45 and then holding ground near $84. The move came on volume above its 20-day average, signaling conviction behind the breakout.
An easing in global stress helped, with a supposed ceasefire between Israel and Iran.
The next catalyst may be regulatory. The U.S. Securities and Exchange Commission is reviewing two bids for a spot Litecoin ETF.
A green light to such a fund this year, to which Polymarket traders assign an 83% chance, would open LTC exposure to investors betting on crypto through traditional brokerages. Bloomberg analysts see a 95% chance of a spot LTC ETF approval.
Litecoin's price burst through the $83.40 ceiling backed by 331,459 LTC being traded in a single hour, according to CoinDesk Research's technical analysis data model.
LTC has since been bouncing between $84.00-$84.20 support and $85.30-$85.45 resistance.
A descending intraday channel printed lower highs until buyers defended $84.20.
Holding above $84 keeps $90 in play while a close below $84 risks a slide to $79.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Politico
23 minutes ago
- Politico
Canada joins NATO push for 5 percent
Prime Minister Mark Carney says Canada is committed to reaching NATO's new defense spending target of 5 percent of GDP by 2035. Carney told reporters at the NATO summit in The Hague on Wednesday that planning is underway to boost Canada's current 2 percent commitment to the new NATO target, which includes 3.5 percent for direct military spending, and 1.5 percent for industrial and infrastructure-related military investments. 'We are protecting Canadians against new threats. I wish we didn't have to,' Carney said. 'It is our core responsibility as government. And those threats, we see them — the evolving threat environment — most clearly in the Arctic.' Carney noted that current Canadian spending is already underway to meet the 1.5 percent component of the new target. 'That means ports, airports, infrastructure to support the development and exportation of critical minerals, telecommunications and emergency preparedness systems,' the prime minister said. 'Much of this we are already doing.' Once Canada meets the technical requirements of the 'NATO accountants,' the government will be able to meet the formal alliance target, he said. Carney and Canada's 31 NATO allies agreed to the 5 percent of GDP military spending target, which was driven by U.S. President Donald Trump. The alliance pledged to review progress toward the target in 2029. Carney deflected concerns about the domestic trade-offs that could come with a major defense spending increase, including the possibility of having to reduce federal transfer payments from Ottawa to the provinces, which hold jurisdiction over the delivery of health care, education and many social services. That would mean spending C$150 billion annually on defense, Carney told CNN in a Tuesday interview in The Hague. Carney's comments indicate Canada plans to leverage its critical mineral wealth as part of its military contribution to NATO. The U.S. also needs Canada's rare earth minerals because they are required to power all 21st century digital technology, from high-tech weapons and surveillance equipment to everything powered by artificial intelligence. 'Canadian workers in shipyards, in labs, shop floors right across our country — we'll make the drones, the icebreakers, the aerospace technologies and much more that's needed to build a more secure world,' he said. Carney also credited Trump with pushing through a ceasefire in the Iran-Israel war, including his use of 'not quite diplomatic language.' Before departing for NATO, Trump told reporters on the White House lawn: 'We have two countries that have been fighting so long and so hard that they don't know what the fuck they're doing.' Carney noted the 'neutral language that the president used yesterday' and said 'the combination of those factors have contributed to a ceasefire, which is in very early days.' Asked if he had any knowledge about the level of damage inflicted on Iranian nuclear facilities by American B-2 bombers, Carney said: 'I don't have intelligence that I can share with respect to that. I will say that the U.S. attacks degraded Iran's nuclear capability, nuclear weapons capability.' Carney also defended the NATO decision not to hold direct meetings with Ukraine on the war with Russia. Though President Volodymyr Zelenskyy attended the summit, the alliance did not hold its regular NATO-Ukraine Council because it didn't want to antagonize Trump by deflecting from his focus on defense spending. Carney said everything NATO decided will benefit Ukraine. 'I sat at dinner with President Zelenskyy last night, I had a separate series of conversations with him. I made points in the room,' Carney said. 'So, yes, it would have been better to have a session. We didn't have it, but in the actual session, myself, several others, made points.' Last week at the G7 summit, Canada announced additional military and financial assistance to Ukraine.
CBS News
29 minutes ago
- CBS News
Watch Live: Trump holds news conference at NATO summit amid tenuous Iran-Israel ceasefire
President Trump is holding a news conference Wednesday to cap off the NATO summit in The Hague, Netherlands, amid a tenuous ceasefire between Israel and Iran. The president has been meeting with other world leaders on the sidelines of the summit, amid cautious optimism that the ceasefire the Trump administration brokered will hold for now. The 12-day conflict left 28 people dead in Israel and hundreds in Iran. At the summit, Mr. Trump said Iran's enrichment efforts were set back "basically decades." However, an initial classified assessment by the Defense Intelligence Agency estimated the U.S. strikes on Iranian nuclear facilities set back Tehran's nuclear program by a matter of months, according to three sources familiar with its contents. Regarding the Israel-Hamas conflict, Mr. Trump expressed optimism and said there's been "great progress." "I think great progress is being made on Gaza," Mr. Trump said. "I think because of this attack that we made, I think we're going to have some very good news." On Wednesday, Mr. Trump met with NATO Secretary General Mark Rutte, who complimented the president on his efforts to boost other countries' defense spending and on his efforts in the Middle East. "You are a man of strength and also a man of peace," Rutte told Mr. Trump. Mr. Trump also met with Ukrainian President Volodymyr Zelenskyy. Zelenskyy said they discussed "how to achieve a ceasefire and a real peace deal." "We appreciate the attention and the readiness to help bring peace close," Zelenskyy wrote on X, adding, "Details will follow." NATO members, with the exceptions of Spain and Slovakia, have agreed to a dramatic increase in their defense spending, to 5% of GDP, a goal pressed by Mr. Trump, though the U.S. defense spending is short of that target. Before leaving for the summit, Mr. Trump said the U.S. shouldn't have to reach that target, since it's contributed so much to NATO in the past. It's a whirlwind trip for Mr. Trump, who arrived in the Netherlands on Tuesday and is scheduled to fly back to Washington on Wednesday. contributed to this report.
USA Today
38 minutes ago
- USA Today
NATO commits to higher spending sought by Trump and mutual defense
While Trump got what he wanted at the brief NATO summit, his allies will be relieved he committed to the fundamental principle of collective defense. THE HAGUE, June 25 (Reuters) - NATO leaders on June 25 backed the big increase in defense spending that President Donald Trump had demanded, and restated their commitment to defend each other from attack. While Trump got what he wanted at the brief summit, tailor-made for him, his NATO allies will be relieved that he committed to the fundamental principle of collective defense after less clear-cut language on June 24. In a five-point statement, NATO endorsed a higher defence spending goal of 5% of GDP by 2035 - a response not only to Trump but also to Europeans' fears that Russia poses a growing threat to their security following the 2022 invasion of Ukraine. More: Israel-Iran ceasefire seems to hold as Trump lands in Europe for NATO summit The 32 allies' brief communique added: "We reaffirm our ironclad commitment to collective defense as enshrined in Article 5 of the Washington Treaty – that an attack on one is an attack on all." Asked to clarify his own stance on Article 5, Trump said: "I stand with it. That's why I'm here. If I didn't stand with it, I wouldn't be here." Macron brings up trade war at NATO summit Trump had long demanded in no uncertain terms that for other countries step up their spending on defense to reduce NATO's heavy reliance on the U.S. Despite an appearance of general agreement, French President Emmanuel Macron raised the issue of the steep import tariffs threatened by Trump, and the damage they may do to transatlantic trade, as a barrier to increased defense spending. More: Can Trump pull off peace plans, trade deals at the G7? What to know about the summit "You cannot come to us as allies and ask that we spend more, tell us we will spend more at NATO - and do a trade war. It's an aberration," he told reporters. NATO Secretary General Mark Rutte, who hosted the summit in his home city of The Hague, said NATO would emerge as a 'stronger, fairer and more lethal' alliance. He had earlier acknowledged that it was not easy for European countries and Canada to find the extra money, but said it was vital to do so. "There is absolute conviction with my colleagues at the table that, given this threat from the Russians, given the international security situation, there is no alternative," the former Dutch prime minister told reporters in his home city of The Hague. The new spending target - to be achieved over the next 10 years - is a jump worth hundreds of billions of dollars a year from the current goal of 2% of GDP, although it will be measured differently. Countries would spend 3.5% of GDP on core defence - such as troops and weapons - and 1.5% on broader defence-related measures such as cyber security, protecting pipelines and adapting roads and bridges to handle heavy military vehicles. All NATO members have backed a statement enshrining the target, although Spain declared it does not need to meet the goal and can meet its commitments by spending much less. More: Trump says US strike impaired Iran's nukes. What does Pentagon say? Live updates Rutte disputes that but accepted a diplomatic fudge with Spanish Prime Minister Pedro Sanchez as part of his efforts to give Trump a diplomatic victory and make the summit go smoothly. Spain said on June 25 that it did not expect its stance to have any repercussions. Trump meets Zelenskyy after summit Rutte kept the summit and its final statement short and focused on the spending pledge to try to avert any friction with Trump. Ukrainian President Volodymyr Zelenskyy had to settle for attending the pre-summit June 24 dinner rather than the main meeting on June 25, although he met Trump separately after the conference ended. The Kremlin on June 24 accused NATO of being on a path of rampant militarization and portraying Russia as a "fiend of hell" in order to justify its big increase in defense spending.
