Bitcoin’s weekend rally sparked optimism across the crypto markets, but two top altcoins—Stellar (XLM) and Hedera (HBAR)—emerged as the real standouts, posting double-digit gains as capital rotated aggressively into non-Bitcoin assets.
According to CoinDesk data, Bitcoin (BTC) reached a new all-time high of $119,308 at 2:20 p.m. UTC on Sunday, gaining 1.4% over the past 24 hours. By 4:11 p.m. UTC, it had pulled back slightly to $118,882, still holding a 1.38% daily increase.
The rally came in the wake of new tariff announcements from President Donald Trump, who stated on Truth Social late Friday that the U.S. would implement a 30% tariff on goods imported from the European Union and Mexico, starting August 1. Despite the potential geopolitical and trade implications, the crypto market appears undeterred.
Some market analysts are even more bullish. In a recent CNBC appearance, Fundstrat Capital CIO Thomas Lee reiterated that the supply-demand imbalance in Bitcoin could push the price to between $150,000 and $250,000 by year-end.
XLM and HBAR Take the Lead
While Bitcoin drew headlines for its milestone, XLM and HBAR delivered much stronger returns.
- Stellar (XLM) hit an intraday high of $0.4815 around 3:20 p.m. UTC, before stabilizing at $0.4578, marking a 22% gain in the last 24 hours. The rally follows Saturday’s 6% move, where XLM was the top performer among the top 20 cryptocurrencies by market cap.
- Hedera (HBAR) surged to a high of $0.2516 at 3:10 p.m. UTC and later settled at $0.2439, still up a notable 27%, making it Sunday’s biggest percentage gainer among major crypto assets.
Analyst: Altcoin Rotation Just Beginning
Well-known crypto analyst Rekt Capital suggested HBAR’s rally may be part of a larger structural trend. Posting on X, the pseudonymous analyst said HBAR is following its 2021 price cycle “almost perfectly” and that any short-term dip could act as a bullish retest, setting the stage for a breakout above its current resistance.
Rekt Capital also noted that a 2.5% drop in Bitcoin dominance has already led to major altcoin inflows. If dominance were to fall further—potentially into double digits—a broader altcoin season could ignite, with capital flowing aggressively into high-beta tokens.
Conclusion
With Bitcoin eyeing a break above $120K and altcoins showing renewed strength, market sentiment is increasingly bullish. XLM and HBAR’s explosive moves suggest investors are looking beyond Bitcoin, positioning for the next leg up in a market that’s rapidly shifting from consolidation to breakout mode.
