Crypto Markets Surge as Trump Confirms October 31 Summit With Xi Jinping

• President Donald Trump confirmed a meeting with Chinese President Xi Jinping at the APEC summit on Oct. 31.
• The announcement follows easing US-China trade tensions, sparking a crypto market rally.
• Bitcoin rose 2%, while Ether, BNB, and Solana gained between 3% and 4%.
• Analysts say the rebound reflects optimism over a potential trade deal.
• Market sentiment is recovering from record liquidations and extreme fear levels.

Cryptocurrency markets rebounded sharply on Sunday after US President Donald Trump confirmed he will meet with China’s President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit in Seoul, South Korea, set to begin on October 31. The announcement marks a major shift in tone following weeks of escalating trade tensions between the world’s two largest economies.

Speaking to Maria Bartiromo on Fox News, Trump struck a conciliatory tone, saying:

“[Xi Jinping] is a very strong leader, a very amazing man. You can look at what he’s done, where he is in his life. It’s an amazing story. I think we’re gonna be fine with China, but we have to have a fair deal. It’s going to be fair.”

Just a week earlier, Trump had dismissed the idea of meeting Xi at the APEC summit, following new US tariff threats that triggered widespread market panic. His earlier statements, coupled with social media posts hinting at a “sustained trade war,” sent the crypto market into one of its steepest declines in history. Bitcoin plunged nearly 15% in hours, while over-leveraged altcoins lost as much as 99% of their value.

The announcement of the upcoming summit, however, appears to have reignited investor optimism. The price of Bitcoin (BTC) rose by about 2%, trading near $107,916, while Ether (ETH) and BNB climbed 3.5% each. Solana (SOL) saw an even stronger recovery, gaining nearly 4%, according to data from TradingView.

Analysts attribute the bounce to hopes of a US-China trade de-escalation, which could reduce global macroeconomic uncertainty — a positive driver for risk assets like cryptocurrencies. Historically, easing geopolitical tensions have boosted digital asset prices, as investors seek to re-enter risk markets when stability returns.

The Crypto Fear and Greed Index, which had dropped to a six-month low of 22 (“Extreme Fear”), began to recover as market confidence returned. Investors appear to be cautiously reentering positions after what analysts have described as the most severe liquidation event in crypto history — nearly $20 billion in positions wiped out within 24 hours.

Experts at the Kobeissi Letter argued that while short-term volatility remains, the long-term bull trend in digital assets is still intact. “We view the downturn as technically driven,” the report noted, suggesting that broader market fundamentals remain strong despite recent turbulence.

The Trump-Xi meeting could provide a much-needed catalyst for markets still reeling from months of uncertainty. If trade talks progress toward a deal, analysts believe it could fuel renewed momentum across global equities and digital assets alike — potentially marking the start of the next leg of the crypto bull cycle.

Final Thought

Trump’s confirmation of his upcoming summit with Xi Jinping has injected optimism back into crypto markets, signaling a potential thaw in US-China trade tensions. With investors betting on a possible trade deal and improving macroeconomic stability, cryptocurrencies are once again showing signs of resilience. Whether this meeting delivers tangible progress or merely a temporary relief rally remains to be seen, but for now, the digital asset market appears to have found its footing.