Cryptocurrency markets recover after a $19 billion liquidation event, boosted by optimism over a potential US-China trade deal. Bitcoin surges to $116,400 on investor expectations of an upcoming Federal Reserve interest rate decision and trade agreement. Trump expresses confidence in a deal ahead of Thursday’s meeting with Xi Jinping.

Trump’s positive comments on US-China trade talks help Bitcoin breach key short-term holder cost basis of $114,000. Reclaiming this level is crucial for Bitcoin’s recovery post $19 billion market crash. Crypto markets saw record liquidation after Trump’s tariff threat, resulting in Bitcoin briefly crashing to $104,000.

Trump threatened a 100% tariff on Chinese imports effective Nov. 1 if no trade deal was reached. This threat led to the $19 billion crypto market crash. Markets anticipate a 25-basis-point interest rate cut by the Federal Reserve on Wednesday, with a 96.7% chance priced in, per CME Group’s FedWatch tool.

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1. Bitcoin hits a new all-time high of $63,000, fueled by growing institutional interest and increased adoption among mainstream investors. The cryptocurrency market continues to surge, with Ethereum also reaching record highs.

2. Tesla announces that it will now accept Bitcoin as a form of payment for its electric vehicles, further legitimizing the digital currency and driving up its value. This move comes after Tesla’s $1.5 billion investment in Bitcoin earlier this year.

3. The NFT market sees explosive growth, with sales reaching $2 billion in the first quarter of 2021 alone. Artists, musicians, and celebrities are increasingly turning to NFTs to tokenize their work and engage with fans in new ways. The trend shows no signs of slowing down.: Crypto Starts Recovery After $19B Crash, Ahead Of Trump Tariff Meeting