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Litecoin (LTC) Whales Push Exchange Inflows Amid Price Drop

Litecoin (LTC) has seen a surge in the movement of coins by large holders to exchanges as the cryptocurrency’s price continues to decline. In the past seven days, LTC has experienced a nearly 15% drop, prompting significant selling activity from whales in an attempt to prevent further losses. On-chain data reveals that the netflow of LTC from large holders to exchanges has increased by over 464% during this period. This indicates that these investors are preparing to sell their tokens, potentially leading to greater selling pressure and a further decline in price. Conversely, when the netflow metric decreases, it suggests that large holders are withdrawing their tokens from exchanges, possibly preparing to hold them for a longer period or awaiting a better opportunity to enter new positions. The steady decline in LTC’s price has led to an increase in the number of investors holding at a loss, prompting whales to intensify profit-taking activity. The bearish sentiment towards LTC is also confirmed by readings from its Moving Average Convergence/Divergence (MACD) indicator, which indicates selling activity outweighs buying momentum. If this trend continues, LTC’s price may drop to $63.98, but a shift in market sentiment from bearish to bullish could drive the coin’s value up towards $68.60.