Summary
- Crypto roundup for Friday shows cautious optimism among traders as Trump tames U.S.-China trade war fears.
- Bitcoin pares losses at a multi-month low, Gold snaps five-day uptrend by retreating from ATH, and the U.S. Dollar recovers.
- U.S. President Trump, White House Economic Advisor Hassett appeared less aggressive on China and confirmed the Xi-Trump meeting.
- WTI Chief also urged the U.S. and China to de-escalate trade war conditions.
- Wall Street turns positive after a downbeat day, backed by a mild risk-on mood, upbeat Q2 earnings from American Express Company.
- Major crypto coins hit multi-day lows early in the day before paring losses, but stay on a negative note.
Crypto Roundup for Friday: Sentiment Improves Slightly
The risk complex faced modest optimism early Friday in New York, following a grim day, as U.S. President Donald Trump’s comments soothe fears of a full-fledged trade war between Washington and Beijing. Adding to the cautious optimism could be dovish Fed bets, boosted especially amid the latest trade tensions, and a lack of U.S. data due to the shutdown.
Against this backdrop, Bitcoin (BTC) posts a four-day losing streak, despite recently bouncing off a four-month low to $105K, while the spot Gold (XAU) retreats from its all-time high (ATH), snapping a five-day uptrend, to $4,230. That said, the U.S. Dollar Index (DXY) rebounds from a weekly low, posting the first daily gain in four around 98.52 by press time.
U.S. President Donald Trump appeared less dramatic in an interview with Fox Business and which triggered a bounce in the market’s risk appetite, following sour sentiment. Trump conveyed his thoughts that things with China will be fine while confirming a meeting with Chinese President Xi Jinping in two weeks’ time. The U.S. President also answered that high tariffs on China were “unsustainable”, but didn’t rule them out entirely.
Furthermore, White House Economic Adviser, Kevin Hassett also said that he is confident that they can get back to place that is good for both (U.S. and China).
On the same line, Reuters came out with the news citing World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala urging US and China to de-escalate the trade war, or risk a long-term hit to global growth.
Amid the dearth of official U.S. data, JPMorgan and Goldman Sachs estimate the U.S. Jobless Claims fell to around 217k during the last week, while Bank of America’s research showed that small-business hiring continues to slow.
In geopolitics, the White House reported positive progress from Trump’s call with Putin, with plans for further discussions in Budapest.
Crypto, Equity Update
Cryptocurrency markets faced another downbeat day, despite paring intraday losses amid the latest shift in the U.S.-China trade war concerns. Still, a lack of data, dovish Fed bias, and global uncertainty weighed on the digital assets.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all drop more than 2.0% on a day by press time, while Solana (SOL) posts a 2.5% intraday loss. Further, Cardano (ADA) and Polkadot (DOT) drop 4.0% each, whereas Avalanche (AVAX) sinks over 5.0% as we write. More importantly, Binance Coin (BNB) slides 7.0% and Mantle (MNT) posts an 8.0% fall at the latest.
Notably, the Bitcoin Dominance remains unchanged at 58.9%, but the crypto market capitalization (market cap) drops 5.44% on the day to $3.58 trillion by press time, according to CoinMarketCap.
That said, some of the top crypto news are as follows, while more updates like this could be traced to our Coin Bytes.
Ripple Labs builds $1.0 billion Digital Asset Treasury (DAT) to strengthen XRP holdings, taking advantage of the crypto market crash to defend the altcoin amid doubts about its sustainability.
Elsewhere, the U.S. state of Florida pursues an advanced crypto-friendly strategy as policymakers put forward a bill for 2026 legislative session that proposes Bitcoin investments from public funds.
Meanwhile, DeFi Development adds $16 million worth of Solana (SOL) to its crypto treasury, but faced a 25% slump in SOL per share value. This flashes a warning sign for firms aggressively leaning toward crypto treasuries.
In an interesting financial market development, DL Holdings and Antalpha collaborated to execute a $200 million Gold and Bitcoin strategy. The details suggest a $100 million investment into Tether Gold and another $100 million into Bitcoin mining.
Read More: DL Holdings and Antalpha Powerful $200M Gold and Bitcoin Strategy Partnership
On a grim note, India registered two crypto scams where each victim suffered a $30K loss via ponzi investment scheme and “digital detention”.
Additional Details: India Growing Crypto Scam Landscape Claims Two More Victims Losing $30K Each
Talking about Wall Street, U.S. equity benchmarks begin Friday’s trading on a mixed note, following a downbeat day, as risk-on struggles to overcome global trade and geopolitical woes, especially amid the U.S. shutdown-linked data inaction. With this, the U.S. shares ignored upbeat third-quarter (Q3) earnings from key corporate houses, led by American Express Company.
That said, Dow Jones posts mild gains around 46,200 while S&P 500 and Nasdaq Composite struggle to recover.
On Thursday, the U.S. equities began the trading day on a positive note, supported by strong Q3 earnings from major financial companies. However, after-hours trading saw declines in Novo Nordisk and Eli Lilly after President Trump commented on pushing for price cuts on weight-loss drugs, which pressured the sector. The S&P and Dow each fell by around 0.6%, whereas the Nasdaq fell by 0.47%. Among the S&P components, financials were the weakest sector, while information technology was the only one to show gains.
- Gold retreats from its ATH, snaps a five-day winning streak while falling to $4,230 at the latest.
- Bitcoin (BTC) struggles to rebound, down for the fourth consecutive day to $105K as we write.
- Ethereum (ETH) posts a four-day losing streak, falling over 2.0% to $3,765 by press time.
- U.S. Dollar Index (DXY) rebound from a weekly low, posting the first daily gain in four, around 98.52 at the latest.
- Wall Street benchmarks rebound, with Dow Jones up 0.40%, while S&P 500 and Nasdaq Composite rise nearly 0.20% each.
- WTI Crude Oil slumps, hitting a fresh low since early May around $56.15, recently recovering to $56.95.
Same Old, Same Old…
With the U.S. shutdown causing a data gap, there isn’t much on the economic calendar to observe. This will push traders to focus on headlines about the Trump administration’s efforts to permanently fire multiple Federal workers during the shutdown, as opposition lawmakers try to block these moves in Congress. Additionally, U.S.-China trade deal updates, talks on U.S.-Russia relations, Trump’s ability to stop the Russia-Ukraine war, and concerns over the dovish Fed will also capture the market’s attention.
Given the recent improvement in the risk profile, the U.S. Dollar is expected to defend the latest corrective bounce, which in turn can keep gold’s pullback from the ATH, as well as allow crypto traders to pare some losses. However, a stellar risk-on and the USD’s rally isn’t quite likely as markets position ahead of next week’s U.S. inflation data.
Also read: Top 5 Altcoins to Watch in October 2025
