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Litecoin price slid below critical support at $80 as the bears regained control amid the market’s struggle to shake down tariff jitters.
Moreover, miner-related activities signal that miner capitulation could be turbocharging the decline.
Litecoin price appeared to be in the process of a recovery a few days ago before the weekend kicked off.
However, price pivoted in favor of the downside during the weekend. The Litecoin price capitulation resulted in the loss of the $80 support in the last 24 hours.
It dipped by more than 7% during this period at its $72.72 press time price tag. This also marked the lowest price point that LTC has achieved so far in 2025.
This bearish outcome reflects the crypto market’s failed attempt at finding a proper footing for recovery after last week’s trade war- induced selloff.
LTC’s spot flows in the last 24 hours recorded $11.33 million worth of outflows. This was the highest outflows since 11 March.
Also, Litecoin’s latest dip pushed it into oversold territory for the first time since the August 2024 crash which was triggered by the Japanese Yen carry trade unwind.
Miners May Have Contributed to Litecoin Price Capitulation
Litecoin miner reserves have been on an overall uptrend with sharp pullbacks here and there since the start of 2025.
An uptrend is historically associated with more confidence as miners opt to HODL in anticipation for higher prices levels.
However, a dip below specific price levels could induce sell pressure if the level of profitability declines.
Such an outcome could potentially occur especially if the hash rate surges, as computing capacity increases.
This could either be due to higher difficulty or more participants entering the market.
Litecoin hash rate has notably ticked up considerably over the last 7 days. For context, the hash rate was as 2.01 PH/s as of 29 March and 2.2 PH/s as of 31 March. It hovered around 2.52 PH/s at the time of observation.
The Litecoin hash rate figure was approaching its historic ATH at the time of observation.
Meanwhile, Litecoin miner reserves have been declining since 26 March. The miner reserves soared to their highest March levels at 2.05 million LTC but have since dropped to 2.02 million LTC as of 6 April.
These reserve outflows may have contributed to Litecoin price weakness and further downside.
The sell pressure in the last 24 hours resulted in a 10% dip in Litecoin’s marketcap. The cryptocurrency could face the next major support level just below $65 if the bears remain dominant this week.
At that price point, LTC will have given up all the gains achieved in November last year.
Long Term Golders Observed to be Selling
Litecoin balance by time held reveals that even long term holders have been offloading some coins over the last 2 weeks.
HODLers saw their balances side from 40.37 million LTC on 22 March to39.94 million LTC as of 4 March.
Cruiser balances were up slightly from 27.43 million coins to 27.68 million coins during the same period.
This is a sign that some cruiser balances have been accumulating at recent discounts.
Trader balances were also up from 8.56 million to 8.79 million coins during the same period.
The above observation suggests that long term holders have been feeling the heat as Litecoin continues to bleed.
Meanwhile, the cruisers and swing traders were taking the discount as an opportunity to accumulate on the way down.
The characteristics observed in balances by time held suggests that the sentiment around LTC is shifting to oversold.
This could pave the way for accumulation at recent levels. However, a strong comeback may only occur if the tariff wars cool down.
An outcome that is yet to be observed, which means the economic pain could be far from over.
