Key Takeaways
- Bitcoin climbed 4.01% to $111,143, while Ethereum rose 3.96% to $4,048, after U.S. President Donald Trump confirmed his upcoming meeting with Chinese President Xi Jinping at the APEC summit in Seoul.
- The total crypto market capitalization surged to $3.77 trillion, up more than 4% in 24 hours, as easing trade tension hopes boosted investor sentiment.
- Altcoins followed suit with Chainlink jumping 11.15%, Sui gaining 6.11%, and Dogecoin rising 6.15%, reflecting broad market optimism.
The crypto market continued advancing on Monday after the U.S. President Donald Trump confirmed he will meet Chinese President Xi Jinping. The meeting is set at the Asia-Pacific Economic Cooperation (APEC) summit in Seoul, South Korea, starting October 31. The confirmation eased investor concerns over escalating trade tensions, sparking a renewed rally across major digital assets.
Crypto Market Sees Major Recovery
Bitcoin (BTC) rose 4.01% in the past 24 hours to trade at $111,143 after earlier falling to the $105,000 level. Meanwhile, Ethereum (ETH) added 3.96% to $4,048. Binance Coin (BNB) climbed 3.44% to $1,123, and XRP increased 4.76% to $2.46. Solana (SOL) advanced 3.58% to $192.89, Cardano (ADA) gained 5.81% to $0.6685, and Dogecoin (DOGE) saw a notable 6.15% jump to $0.2007.
Across the broader market, total capitalization reached $3.77 trillion, up more than 4% over the past day, according to CoinMarketCap data. The gains came after Trump told Fox News journalist Maria Bartiromo that he would “meet in South Korea with President Xi and other people, too,” signaling a potential thaw in U.S.-China relations. He described Xi as “a very strong leader, truly an amazing person.”
He added, “Look at his achievements, his life journey. It’s an incredible story. It’s a story for a great movie.” Trump said he believes talks “will go well with China,” while emphasizing that any agreement must be “fair.” The remarks marked a sharp shift from earlier this month, when Trump had stated there was “no reason” to meet Xi and announced plans for new tariffs on Chinese imports. That stance sent shockwaves through financial and crypto markets, which triggered an estimated $19 billion liquidation wave and a steep drop in digital asset valuations.
With the U.S. president now signaling openness to negotiation, investor sentiment appears to have improved sharply. Traders view the upcoming APEC meeting as a chance for the two largest global economies to find common ground. This development could stabilize risk assets after weeks of volatility.
Meanwhile, the UK’s Financial Conduct Authority (FCA) has officially approved Bitcoin and Ethereum exchange-traded products (ETPs) for retail investors. This marked a major step toward mainstream crypto adoption, which also fuelled the bullish narrative today. This approval allows investors to gain regulated exposure to the two largest cryptocurrencies through traditional financial platforms such as the London Stock Exchange. Following the announcement, market enthusiasm surged, with spot trading volumes climbing 40% to $155 billion, signaling renewed investor confidence and growing institutional interest.
Market Sentiment Shows Bullish Shift
The Crypto Fear and Greed Index, which slumped to a six-week low of 22 last week, began recovering following Trump’s latest remarks. Analysts at The Kobeissi Letter commented that the earlier pullback was only temporary and that the overall bullish trend in crypto remains in place as long as U.S.-China trade relations continue to improve.
Altcoins also benefited from the renewed optimism. Chainlink (LINK) surged 11.15% to $18.72, while Sui (SUI) rose 6.11% to $2.64. Stellar (XLM) was up 5.23%, and Hyperliquid (HYPE) gained 5.42%. Now, the market is eyeing other key events that could shape the Bitcoin and crypto market trajectory. On Friday, the U.S. CPI report will be released while the Federal Reserve interest rate decision is due on October 29.
Also Read: BlackRock Launches Bitcoin ETP Following UK Regulatory Shift
