Bitcoin’s latest record high set the tone for crypto markets on Sunday—but altcoins Stellar (XLM) and Hedera (HBAR) grabbed the spotlight, outshining the king of crypto with impressive double-digit gains.
Data from CoinDesk showed Bitcoin (BTC) reached a fresh all-time high of $119,308 at 2:20 p.m. UTC, rising 1.4% over the previous 24 hours. By 4:11 p.m. UTC, BTC had slipped slightly to $118,882, maintaining a 1.38% daily increase.
The milestone arrived in the wake of geopolitical news. Late Friday, President Donald Trump announced on Truth Social that the U.S. will impose a 30% tariff on imports from both the European Union and Mexico, starting August 1. Despite potential economic fallout, bullish sentiment persisted in crypto markets.
Meanwhile, some market watchers see even higher targets for Bitcoin. In an interview with CNBC, Thomas Lee, CIO of Fundstrat Capital, projected BTC could climb to anywhere between $150,000 and $250,000 before the year ends, driven by a persistent supply-demand imbalance.
Altcoins Lead the Charge
But while Bitcoin set a new record, altcoins were the true stars of the day:
- Stellar’s XLM reached an intraday high of $0.4815 around 3:20 p.m. UTC before settling at $0.4578, notching a 22% gain over the past 24 hours. The move follows Saturday’s 6% surge, when XLM topped gains among the top 20 cryptocurrencies.
- Hedera’s HBAR climbed as high as $0.2516 at 3:10 p.m. UTC and was last trading at $0.2439, posting a 27% gain on the day and claiming the title of Sunday’s best performer among the top 20 digital assets.
Signs of Altcoin Rotation
According to crypto analyst Rekt Capital, HBAR’s recent 62% rally appears to mirror its 2021 price cycle almost exactly. The analyst suggested that any near-term dip could serve as a bullish retest, paving the way for a breakout above the current resistance zone.
Rekt Capital also highlighted that even a modest 2.5% drop in Bitcoin’s market dominance has fueled outsized altcoin rallies. A larger decline—potentially into double digits—could further intensify capital rotation into the broader altcoin market.
Outlook
With Bitcoin flirting with new highs and altcoins showing renewed strength, the crypto market appears poised for further volatility—and opportunity. Stellar’s and Hedera’s surges hint that traders are looking beyond Bitcoin for the next wave of growth, signaling that an altcoin season could be taking shape as summer progresses.
