Bitcoin Hits $119K, XLM & HBAR Surge
Bitcoin Reaches New All-Time High
Bitcoin (BTC) briefly surpassed $119,308 on Sunday, marking a new all-time high, according to CoinDesk data. This represents a 1.4% increase over the previous 24 hours. The surge followed President Trump's announcement of potential tariffs on EU and Mexican imports.
Altcoin Market Rally: XLM and HBAR Lead the Charge
While Bitcoin made headlines, Stellar Lumens (XLM) and Hedera Hashgraph (HBAR) significantly outperformed, recording gains of 22% and 27% respectively. XLM peaked at $0.4815, while HBAR reached $0.2516 during intraday trading.
This altcoin surge has been attributed to a slight decrease in Bitcoin's market dominance. Crypto analyst Rekt Capital noted that a 2.5% dip in Bitcoin's dominance fueled substantial altcoin rallies. Further declines could trigger even more significant capital flows into the altcoin market.
HBAR's Impressive Run
Rekt Capital highlighted HBAR's recent performance, noting its 62% surge closely mirrors its 2021 price cycle. This suggests a potential breakout pattern. The analyst believes any short-term pullback could offer a buying opportunity before a potential break above current resistance levels.
Market Outlook and Expert Predictions
Despite the recent gains, some analysts remain bullish on Bitcoin's long-term potential. Fundstrat Capital CIO Thomas Lee predicted a Bitcoin price range of $150,000 to $250,000 by year-end, citing a supply-demand imbalance.
Codeum: Your Partner in Blockchain Security
Navigating the complexities of the cryptocurrency market requires robust security measures. Codeum offers a range of services to help you stay ahead, including:
- Smart contract audits
- KYC verification
- Custom smart contract and DApp development
- Tokenomics and security consultation
- Partnerships with launchpads and crypto agencies
Contact Codeum today to learn how we can secure your blockchain project.