Litecoin (LTC) has mirrored Bitcoin’s price movements over the past month, experiencing a gradual bullish trend. Recent surge in demand from institutional investors is a key driver behind this positive momentum. The anticipated approval of spot Litecoin ETFs in the United States signals a substantial increase in buying activity by these institutions. This rising trend has propelled LTC price to hit new highs, recently surging over 14% within two weeks, trading around $87.38 on Friday, as Bitcoin’s price continues to climb above $95,500 in the last few days. This increased interest is driving altcoin speculation, with Litecoin leading the charge. 2023 has been a year of consolidation for LTC, but recent bullish signs suggest it could break out and retest its all-time high of $359 in the near future. 2023’s bullish sentiment is fueled by the fact that LTC formed higher highs and higher lows since late 2022. For those interested in leveraging their crypto holdings, a stop loss below $62 with a mid-term target of around $359 offers a 0.42 to 2.9 loss-to-win ratio. This bullish outlook for LTC is supported by several factors: the network’s increasing demand from institutional investors and the anticipated approval of spot Litecoin ETFs in the United States. Fund managers like CoinShares, Grayscale, and Canary Capital are seeking to launch spot LTC ETFs, leading to a surge in large transactions on the Litecoin network, totaling $52.33 billion in the last seven days. The recent price correlation between Bitcoin (BTC) and Litecoin has been particularly strong – reaching 0.88 out of 1 over the past thirty days.