Bitcoin Tops $118K as Litecoin Eyes $120–$125 Breakout
Bitcoin surged past $118,000 on Thursday, reaching a 2024 high before retracing 0.5% to around $117,430. The breakout boosted the overall crypto market, driving daily trading volume to $34.5 billion and lifting total market capitalization to $2.35 trillion. Meanwhile, Litecoin has rallied 24% over the past week, trading at $116 after peaking at $119.21. Analyst Naveed notes Litecoin has broken key technical resistance and filled a fair value gap, setting its next target between $120 and $125. CoinCodex forecasts a further 15% rise to $134 by August 22, 2025, supported by bullish technical indicators and a Fear & Greed Index reading of 74. Litecoin has gained in 60% of trading days this month, reflecting volatile momentum. If Litecoin clears $125, traders anticipate a push toward $140, bolstered by rising social media activity and exchange volumes. In the longer term, forecasts suggest potential rallies to $262 by late 2025 and tests of the $413 all-time high, despite possible dips below $94 amid macro uncertainties.
Bullish
The combined news highlights strong upward momentum for both Bitcoin and Litecoin. Bitcoin’s breakout above $118K, coupled with increased trading volume and market cap growth, signals growing institutional demand and positive macro trends. Litecoin’s 24% weekly surge, technical breakout past key resistance, and supportive forecasts point to continued bullish momentum. Short-term, traders may capitalize on targets at $120–$125 and $140 for Litecoin, while Bitcoin holds above critical support. Longer-term forecasts for Litecoin to $262 and potential for Bitcoin to revisit record highs reinforce a bullish outlook. Volatility remains, but prevailing market sentiment is positive.