Market Note: LTC Shows Relative Strength Amid Market Chaos

JAN 19, 2023 • 9 Min Read

Priyansh Patel

The authors have not purchased or sold any token for which the authors had material non-public information while researching or drafting this report. These statements are made consistent with Delphi’s commitment to transparency and should not be misconstrued as a recommendation to purchase or sell any token, or to use any protocol. The content of this report reflects the opinions of its authors and is presented for informational purposes only. This is not and should not be construed to be investment advice.

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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.

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