LTC News: Altcoin Market Crashes but Analysts Detect Early Signs of a Comeback

Altcoins Crash as Market Loses $600 Billion – Potential Comeback Signs?

The altcoin market has crashed, with a staggering $600 billion erased from the market and altcoin capitalization down 38% from its all-time high. CoinMarketCap’s altseason index has slumped to 17, indicating a multi-month low. Despite the grim mood, some analysts see early signs of rotation and groundwork for a possible comeback. The Altcoin Season Index hit a multi-month low, but contrarian signals suggest a possible reversal.

US SEC Postpones Approval Decisions for Several Crypto Spot ETFs

The US Securities and Exchange Commission (SEC) delayed the approval decisions on several altcoin spot exchange-traded funds (ETFs) filings, including XRP ETFs by Canary Capital, Bitwise, and 21Shares, along with Litecoin, Solana, and Dogecoin ETFs. The agency postponed decisions on the Solana ETFs filed by 21Shares, Canary, and VanEck, as well as Canary’s spot Litecoin and XRP ETFs. Bloomberg ETF analyst James Seyffart described this as a ’standard procedure’ and noted that the approval odds for these altcoin ETFs remain high.

SEC Delays XRP, Solana, Litecoin, Dogecoin ETFs; Bitwise Launches Bitcoin ETF

The SEC has delayed decisions on XRP ETF, Solana ETF, Litecoin ETF, and Dogecoin ETF proposals until May, hitting the crypto market. Despite these delays, Bitwise has launched a Bitcoin-focused ETF. Industry experts suggest these delays are part of standard regulatory procedures.