Bitcoin climbed above $113,000 late Sunday Asian time, its highest in nearly two weeks, as traders welcomed signs of progress in US-China trade talks, easing fears of another tariff spiral.
The two countries’ top negotiators said they have reached “initial consensus” on several contentious issues — including export controls, fentanyl and shipping tariffs — while U.S. Treasury Secretary Scott Besant told CBS that President Donald Trump’s threat of 100% tariffs on Chinese goods is “effectively out of the conversation.”
The comments came after two days of talks in Malaysia and ahead of a planned Trump-Xi meeting to finalize a comprehensive agreement.
Risk sentiment in global markets. US and Asian equity futures advanced, and gold retreated slightly from recent highs as traders turned to risk assets.
Crypto joins Ether in move higher BNB and Solana add 2.6% to trade near $4,060 Each increased by about 4.5%. XRP jumped 2.3% to $2.64, extending last week’s rally linked to ETF optimism. Tron’s TRX was the only major token in the red with a 2.9% decline.
CoinGecko data shows that the broader crypto market cap rose 1.8% to $3.72 trillion, reversing some of the declines that followed this month’s liquidation phase.
Analysts say the easy trade rhetoric has given traders a sigh of relief after weeks of widespread volatility.
There is less than a week until the Federal Reserve’s next policy meeting, so the chances of a sustained breakout depend on how dovish the central bank’s tone becomes. For now, the relief on the geopolitical front is enough to give crypto a reprieve — and keep Bitcoin’s October from ending with its worst since 2015.