Market Note: LTC Shows Relative Strength Amid Market Chaos

Introduction

Before the first murmurs of an “echo bubble” could be heard, LTC began its move higher while the broader market struggled to maintain its footing. Seemingly nothing was immune to the FTX implosion and subsequent widespread fears of contagion and potential knock-on effects.

Crypto assets are generally viewed as higher beta assets relative to BTC and, as such, can often mimic BTC’s price movement, albeit with heightened volatility. This is especially true during major market moves. Interestingly, in the most recent downward market moves, LTC shrugged off this correlation and instead moved higher against BTC — something that doesn’t happen very often. LTC has continued to show incredible relative strength, making it an interesting altcoin to analyze in detail at the moment.

A Top-Down View

The Mon