President Donald Trump confirmed a meeting with China’s President Xi Jinping at the APEC summit in Seoul on October 31, following a de-escalation of trade tensions. Trump praised Xi as a strong leader and hinted at a fair deal with China. Source: Fox News.
Trump’s previous announcement of additional trade tariffs on China led to a $20 billion crypto liquidation event, wiping out 99% of value on some altcoins. The event was exacerbated by leverage, thin liquidity, and excessive risk in the market.
Cryptocurrencies, including Bitcoin, Ether, BNB, and Solana, rallied on Sunday following Trump’s comments about the meeting with Xi Jinping. Bitcoin rose by 2%, while Ether, BNB, and SOL recorded gains of 3.5% to 4%.
Market sentiment hit a six-month low after the historic crypto crash and fears of a protracted US-China trade war. The Crypto Fear and Greed index dropped to 22, signaling “Extreme Fear,” but analysts predict a short-lived downturn with the long-term bull trend intact.
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Bitcoin hits new all-time high of $64,863 as investors flock to cryptocurrency amid economic uncertainty. The digital currency has surged over 100% in the past month, with experts predicting continued growth. Market cap now exceeds $1.2 trillion, solidifying Bitcoin’s position as a leading asset class.
Ethereum also reaches record high of $2,487, driven by increased adoption and use cases in decentralized finance (DeFi) and non-fungible tokens (NFTs). The second largest cryptocurrency has seen a 200% increase in value this year, outperforming traditional assets like gold and stocks. Analysts remain bullish on Ethereum’s future prospects.
Dogecoin experiences massive surge, jumping 400% in a week to reach an all-time high of $0.43. The meme-inspired cryptocurrency has gained popularity among retail investors and celebrities, with Elon Musk’s tweets fueling its meteoric rise. Dogecoin now boasts a market cap of over $50 billion, surpassing companies like Ford and Twitter.: Trump Confirms Meeting With Xi Jinping on Oct 31, Markets Rally in Response