Bitcoin has shattered records, reaching an unprecedented $119,308, driven by a volatile mix of economic headlines and investor fervor. This milestone, achieved on Sunday according to CoinDesk data, marks a 1.4% rise over the previous 24 hours. The backdrop? President Donald Trump’s announcement of a hefty 30% tariff on imports from the European Union and Mexico, posted on Truth Social late Friday. Despite the potential economic repercussions, bullish voices in the crypto sphere are already predicting even loftier heights for Bitcoin by year-end. As explored in our recent coverage of Bitcoin data points to rally to $120K after pro BTC traders abandon their bearish bets, this optimism is not without precedent.
Bitcoin’s Meteoric Rise
Fundstrat Capital’s Chief Investment Officer, Thomas Lee, articulated a particularly optimistic outlook during a recent CNBC interview. He suggested that the imbalance between Bitcoin’s burgeoning demand and its limited supply could propel the digital currency’s price to anywhere between $150,000 and $250,000 by December. For more on this bullish sentiment, see our article on how a Trader Predicts $150K After $112K Bitcoin ATH. As of late afternoon UTC, Bitcoin had modestly retraced to approximately $118,882, still up by 1.38% in the past day.
The excitement around Bitcoin isn’t occurring in isolation. Stellar (XLM) and Hedera (HBAR) have also seized the spotlight with remarkable performances. Stellar’s price soared to $0.4815 before settling at $0.4578, marking a 22% increase within 24 hours. This surge isn’t entirely unexpected; Stellar had already demonstrated its strength by rising 6% to $0.3880 on Saturday, outpacing many of its crypto peers.
Altcoin Rally: XLM and HBAR Lead the Charge
Meanwhile, Hedera is enjoying its moment in the sun. The token reached an intraday high of $0.2516, later stabilizing at $0.2439, yet still boasting a 27% gain over the same period. Among the top 20 cryptocurrencies, HBAR stands out as the top percentage gainer.
Rekt Capital, a prominent crypto analyst on X, observed that HBAR’s recent 62% climb mirrors its price patterns from 2021. This suggests that the token might be gearing up for another breakout. The analyst emphasized that any near-term dips should be seen as potential opportunities for retests, with an eye on surpassing current resistance levels.
Market Dynamics and Future Implications
A subtle shift in Bitcoin’s market dominance—down by just 2.5%—has sparked significant rallies across numerous altcoins. According to the same analyst, should this decline deepen into double digits, we might witness an accelerated shift of capital into the altcoin market.
The recent market dynamics raise intriguing questions about the future. Will Bitcoin continue its upward trajectory, or will unforeseen challenges halt its progress? And as capital flows towards altcoins, could this be the dawn of a new era for underdog tokens like XLM and HBAR?
Cryptocurrency markets are notorious for their unpredictability, and while optimism abounds, the path forward is anything but certain. Investors and analysts alike will be watching closely, eager to see if these trends persist or if we’re due for another unexpected twist in the ever-evolving crypto saga.
Source
This article is based on: Bitcoin Breaks $119K, While XLM and HBAR Lead Altcoin Rally
Further Reading
Deepen your understanding with these related articles:
- Bitcoin Traders Chase $130K Bets in Anticipation of Renewed Bullish Volatility
- Bitcoin’s Potential Bull Market Resistance: $115K or $223K?
- Trump Tariffs Shake Markets — Discover the Best Altcoins to Weather the Tariff Storm
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
