Bitcoin soared above $111,000 after confirmation that U.S. President Donald Trump and Chinese President Xi Jinping will meet later this month in Washington, sparking renewed optimism across global markets. The announcement, made by White House Press Secretary Karoline Leavitt, marks the first in-person meeting between the two leaders since Trump’s return to office, following their June 2025 phone call.
The news lifted risk assets, with traders reacting positively to the potential easing of U.S.-China tensions. This development comes less than two weeks after Trump imposed a 100% tariff on Chinese imports, a decision that caused one of the most significant crashes in crypto history. During her briefing, Leavitt reaffirmed the administration’s commitment to fair trade, stating that President Trump “will not tolerate unfair trade practices” and aims to bring critical manufacturing back to the United States.
Market sentiment improved further as prediction platform Polymarket showed an 80% probability that both nations will reach a tariff agreement by November 10, up 12% from last week. Analysts view this as a sign of growing investor confidence that diplomatic talks could stabilize trade policies and boost financial markets.
Bitcoin’s 3% rally, according to TradingView data, reflects this optimism. The crypto market’s rebound also coincides with expectations that the U.S. Federal Reserve may soon end its quantitative tightening policy, adding further bullish momentum.
Standard Chartered’s recent analysis suggests that while prolonged trade tensions could push Bitcoin below $100,000 temporarily, easing geopolitical uncertainty may sustain long-term growth. The upcoming Trump-Xi meeting is expected to address key issues including tariffs, trade imbalances, supply-chain resilience, and technological cooperation.
As diplomatic optimism grows, investors are increasingly viewing Bitcoin as a hedge against global uncertainty, with this renewed dialogue between Washington and Beijing signaling a potential reset in international economic relations.
