Crypto markets added billions of dollars after US President Donald Trump confirmed he will meet Chinese President Xi Jinping at the APEC summit at the end of October, sparking a broad risk-on move that lifted bitcoin and other major tokens from last week’s lows. The move followed a violent, leverage-driven sell-off that briefly pushed sentiment into “extreme fear.” Market strategists cautioned that the rally is fragile.
“We’ll be meeting in a couple of weeks in South Korea with President Xi and a few other people too,” Trump told a Fox News chat with Maria Bartiromo.
Traders quickly pushed bitcoin higher: major market snapshots and exchange data put BTC back in roughly the low-to-mid six-figures range as investors digested the diplomatic development and signs of renewed inflows. Ethereum, BNB, and several altcoins also logged multi-percent gains as global risk appetite thawed.
Analysts say geopolitics matters for crypto because periods of heightened geopolitical risk amplify funding stress and cause rapid liquidations in highly-leveraged positions. The prior flareup, when the US threatened tariffs and China deployed new export restrictions, helped trigger a large wave of forced selling across crypto markets.
The announcement triggered a swift rebound across the digital asset market. According to data from TradingView, Bitcoin rose 2 percent to $110,459, Ethereum advanced 3.5 percent to $4,052, BNB gained to $1,125.67, and Solana climbed nearly 4 percent.
With Bitcoin testing resistance around $112,000 and finding support near $109,000, traders are closely monitoring whether the current upward momentum could spark a broader market recovery as October draws to a close.
Tension between the two largest economies was amplified by heavy leverage and thin liquidity. Across different analytics providers, estimates of the liquidation event varied; some reported nearly $1 billion in wiped-out positions over a short window, while other tallies put the figure much higher (into the multiples of billions), underscoring how methodology and exchange coverage change headline totals.
