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 lo ..
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.
Source Name : Economic Times