After Bitcoin (BTC) experienced additional corrections last week due to the fallout from the dispute between Elon Musk and President Donald Trump, its price rebounded strongly. The leading cryptocurrency rose by more than 4% in the last twenty-four hours to reach a local high of around $110,260, which is less than 2% from its all-time high on Monday, June 9, during the late North American trading session.

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This was followed by the broader altcoin market, led by Ethereum (ETH). As a result, the total open interest in cryptocurrencies increased by more than 6% to around $154.8 billion at the time of writing. Additionally, more than $403 million was liquidated from the leveraged cryptocurrency market, led by Bitcoin with $197 million.

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