Bitcoin (BTC) jumps to an intraday high of $109,775.28, lifting Ethereum and the broader market by a few notches.

Bitcoin jumped to an intraday high of $109775.28 overnight, lifting Ethereum and the broader market by a few notches. The second-largest cryptocurrency sailed past $2550.

Leading cryptocurrencies rebounded slightly on Sunday, as President Donald Trump's decision to delay tariffs on European Union imports provided some respite for battered market sentiment.

What Happened: Bitcoin rose to an intraday high of $109,775.28, pulling Ethereum and the broader crypto market up by a few notches. The second-largest cryptocurrency crossed the $2,550 mark.

Trump agreed to delay the 50% tariffs on European Union imports until July 9 from June 1, following a call with European Commission President Ursula von der Leyen.

Stocks and cryptocurrencies slid on Friday after the president threatened to impose the tariffs on one of its biggest trading partners. Bitcoin’s red-hot rally was stalled, and it fell as low as $107,500.

More than $200 million was liquidated from the cryptocurrency market in the last 24 hours, with longs accounting for $114 million.

Ethereum’s dominance increased to 1.68%, while altcoins’ share of the market dropped below 28%.

Bitcoin’s Open Interest rose 1.96% in the last 24 hours to $76 billion, following a decline from the highs of $80 billion on tariff developments.

Over 58% of Binance traders who had open BTC positions were short on the leading cryptocurrency, suggesting further downsides could be on the way.

The cryptocurrency market retained the “Greed” sentiment, as indicated by the Crypto Fear and Greed Index.

Top Gainers (24 Hours)

The global cryptocurrency market cap now stands at $3.42 trillion, showing a 0.52% increase in the past 24 hours.

Stock futures also climbed. Dow Jones Industrial Average Futures went up 304 points, or 0.73%, to 41,844, while futures tied to the S&P 500 gained 0.86%, to 4,237. Nasdaq 100 Futures rose 1.03%, to 15,404.

See More: Best Cryptocurrency Scanners

Analyst Notes: Cryptocurrency analyst Cas Abbé observed a bullish pennant formation for Bitcoin. A bullish pennant is a continuation chart pattern, indicating the resumption of an uptrend after a pause or consolidation period.

“It bounced back nicely from the support level, which is a good sign. I think the next week will be good for BTC. I can smell a new ATH again,” Abbé said.

Abbé also noted that ETH was trying to reclaim the Gaussian Channel.

The Gaussian Channel uses statistical principles to determine the upper and lower limits of an asset’s price movements.

“Since 2020, ETH has only reclaimed this channel twice. And both times, ETH pumped hard. If ETH reclaims this again, I’m certain of $4,000 ETH by Q3 2025,” the analyst added.

Photo Courtesy: alfernec on Shutterstock.com

Read Next: Bitcoin Price Prediction: Can BTC Reach $150,000 This Year?output: Trump's decision to delay tariffs on European Union imports, originally set to take effect on June 1, provided some relief for battered market sentiment. The president's threat to impose a 50% tariff on all imports from the E.U., which began Friday and was set to continue until the tariffs are fully implemented, had sparked concerns of a broader economic downturn.

The tariff threat also stalled Bitcoin's red-hot rally, which saw the leading cryptocurrency fall as low as $107,500 on Friday. By Sunday, Bitcoin rebounded slightly to reach an intraday high of $109,775.28.

"I spoke to President von der Leyen of the European Union about continuing to work together on economic matters, and we will be having a dinner meeting in the not too distant future," Trump said in a statement on Sunday morning.

"We agreed to continue the discussion on trade and to postpone the planned introduction of tariffs on July 9. We agreed to have a phone call in the coming days to discuss further steps."

After the president's threat on Friday, officials in both the U.S. and the E.U. indicated that they were working to resolve the issue. The E.U. ambassador to the U.S., Stavros Lambrinidis, said on Saturday that the bloc was aiming for a swift resolution to avoid any disruption to cross-border businesses and consumers.

"We are working to find a rapid solution to avoid any impact on citizens and businesses in the EU and the U.S., and to prevent any pessimistic interpretations of the president's statements," Lambrinidis told the Greek newspaper Avgi.

The threat to impose tariffs came as Trump expressed dissatisfaction with