Trump confirms Xi meeting, cryptocurrency prices surge sunday
U.S. President Donald Trump confirmed on Sunday that he will meet with Chinese President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit in Seoul, South Korea, scheduled to begin on October 31.
The announcement eased tensions and boosted the cryptocurrency market. Reduced geopolitical strain and growing prospects for a U.S.-China trade deal acted as positive price catalysts for cryptocurrencies this Sunday.
BTC 30-minute chart. Source: TradingView
Over the past 24 hours, BTC rose 2.3% to $109,300, ETH increased 2.7%, approaching $4,000, BNB traded at $1,125 (up 2.7%), and XRP rose less than 2% to $2.40. At the time of writing, most of the top-100 altcoins showed gains, with the broader cryptocurrency market up 1.8%.
Will everything be decided in Seoul?
Positive market reactions followed Trump’s statement to journalist Maria Bartiromo on Fox News that he is preparing to meet Xi Jinping and other leaders at the summit in South Korea “in a couple of weeks.”
In the interview, Trump spoke about Xi Jinping: “A very strong leader, truly an amazing person. Look at his achievements, his life journey. It’s an incredible story. It’s a story for a great movie. I think things will go well with China, but we need to make a fair deal. It will be fair.”
Previously, Trump’s refusal to meet the Chinese leader and his threat to impose an additional 100% tariff on Chinese goods triggered a $19 billion liquidation wave, crashing the cryptocurrency market, which has yet to fully recover.
As we wrote, Crypto market recap: Bitcoin and Ethereum plunge amid massive U.S. ETF withdrawals
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