Liquid Staking Leads Market Higher, LTC Breaking Out
May 15, 2023
Market Update Bitcoin ($BTC) and the broader crypto market are staging a recovery after a week of bearish price action, with altcoins facing particularly excessive pressure. Bitcoin has successfully bounced off its key 200-week moving average around $25,800 and is now hovering around $27,400. Ethereum ($ETH), meanwhile, remains stable above the $1,820 level. Notable standout performers include altcoin $LDO, up 12% on the day, potentially driven by improved withdrawal capabilities and short covering. Outperformance from $RPL and $FXS are also worth noting, as they are likely benefitting from t