Bitcoin Hits New All-Time High Above $119K as Altcoins Rally

Bitcoin (BTC) surged to a new all-time high of $119,308 at 2:20 p.m. UTC on Sunday, according to CoinDesk data, marking a 1.4% gain over the previous 24 hours. The rally came despite market jitters after former U.S. President Donald Trump announced a 30% tariff on imports from the EU and Mexico via Truth Social late Friday.

The bullish sentiment in the crypto market appears unfazed by geopolitical risks. Fundstrat Capital’s Chief Investment Officer Thomas Lee told CNBC that the current supply-demand imbalance could push Bitcoin to $150,000–$250,000 by year-end.

As of 4:11 p.m. UTC, Bitcoin was trading at approximately $118,882, up 1.38% in the past 24 hours.

Meanwhile, altcoins saw significant gains. Stellar (XLM) spiked to $0.4815 before settling at $0.4578, up 22% in 24 hours. The rally followed a 6% rise on Saturday to $0.3880, outperforming other top-20 tokens.

Hedera (HBAR) emerged as the day’s top performer among major cryptocurrencies. It hit an intraday high of $0.2516 and was last trading at $0.2439, up 27% in 24 hours. According to crypto analyst Rekt Capital, HBAR is closely mirroring its 2021 price cycle, with potential for a breakout if it overcomes its lower high resistance.

The analyst also noted that a 2.5% drop in Bitcoin’s market dominance has already triggered strong altcoin rallies. A deeper decline in dominance could further accelerate capital rotation into the altcoin space.

The combination of macroeconomic uncertainty and technical momentum is positioning the crypto market for continued volatility and potential upside.