Bitcoin Breaks $119K, While XLM and HBAR Lead Altcoin Rally
Bitcoin (BTC) reached a new all-time high of $119,308 at 2:20 p.m. UTC on Sunday, marking a 1.4% increase over the previous 24 hours. This surge occurred despite President Trump announcing 30% tariffs on imports from the EU and Mexico. Analysts remain bullish, with Fundstrat Capital CIO Thomas Lee predicting a price range of $150,000 to $250,000 by year-end, citing a significant demand-supply imbalance. As of 4:11 p.m. UTC, BTC traded at approximately $118,882, representing a 1.38% 24-hour gain.
Stellar Lumens (XLM) also experienced substantial growth, reaching an intraday high of $0.4815 at 3:20 p.m. UTC before settling at $0.4578, a 22% increase over 24 hours. This follows a 6% surge on Saturday, outperforming the top 20 cryptocurrencies by market capitalization. Hedera Hashgraph (HBAR) similarly performed exceptionally well, reaching an intraday high of $0.2516 at 3:10 p.m. UTC and currently trading at around $0.2439, a remarkable 27% increase in 24 hours, making it the top percentage gainer among the top 20 cryptocurrencies.
Crypto analyst Rekt Capital highlighted HBAR’s 62% surge, noting its resemblance to its 2021 price cycle, suggesting a potential breakout pattern. The analyst observed that HBAR’s price movement closely mirrors the 2021 structure, viewing any near-term pullback as a potential retest before breaking above the current resistance level. Rekt Capital also emphasized the impact of a modest 2.5% decline in Bitcoin’s market dominance, which fueled significant altcoin rallies. A more substantial drop in Bitcoin dominance could further accelerate capital flow into the altcoin market. The analyst’s analysis suggests a strong correlation between Bitcoin market dominance and altcoin performance, indicating potential opportunities for altcoin investors as Bitcoin’s dominance shifts.
