Trading data shows Litecoin futures’ 24-hour open interest jumped by 4%, while funding rates remained neutral. This neutral funding suggests balanced positioning between longs and shorts—a potential precursor to a sharp directional move. A shutdown would also halt the release of key economic indicators such as jobs data and CPI inflation reports that could amplify volatility across asset classes, including cryptos, Bitfinex analysts warned in a report. The Litecoin (LTC) price has climbed by 1.08% in the last 24 hours, outpacing the broader crypto market’s 0.44% gain. The rebound move, combined with the rising altcoin dominance in the broader cryptocurrency space, has sparked bullish hopes for the coin. Litecoin gains momentum amid rising altcoin season Notably, according to data, the Altcoin Season Index has hit 71%, the highest figure since December 2024. This uptick in price for Litecoin during this time has triggered speculation on how high the altcoin could soar. The coin, considered digital silver in the crypto space, has been known to leverage the altcoin season to post a significant increase. As of press time, the Litecoin price was trading up by 1.17% at $114.69 in the last 24 hours, as per CoinMarketCap data. Its trading volume is gradually exiting the red zone as it currently stands at 0.54% or $607.23 million. This suggests that the price gain is pulling investors to trade the coin as anticipation of a higher value builds.Litecoin Daily Price Chart | Source: CoinMarketCap"> If the current momentum persists, Litecoin could soar toward $130, a level last achieved in February 2025. The recent speculation around possible approval for its exchange-traded fund (ETF) application could support its price spike. Data suggests that the Litecoin ETF has a more than 90% chance of being approved by the U.S. Securities and Exchange Commission (SEC). Such a development would increase the exposure of LTC to institutional demand and possibly impact price outlook. Litecoin futures market's confidence strengthens bullish case As U.Today reported, Litecoin saw a rally in its open interest as investors committed over $958 million to the asset’s futures market. Such confidence sparks hope of continued upward movement in price by market participants. With the current scenario, if the coin soars in volume like it did at the start of August, the price could surge to the targeted $130 before September ends. At the start of August, tading volume had jumped by a staggering 233%, causing a 13% surge in Litecoin's price. Market watchers note Litecoin futures correlation to Bitcoin futures remained at 0.82 over the past week, suggesting crypto-wide sentiment still dictates LTC price action. Sustained strength in BTC may lift LTC above near-term resistance.