Bitcoin Europe traded above $111,000 on Friday morning, supported by news of a confirmed meeting between US President Donald Trump and Chinese President Xi Jinping.
The two leaders will meet on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea on October 30 – the first face-to-face meeting since Trump took office.
The meeting comes amid rising trade tensions, with Trump announcing additional 100% tariffs on Chinese imports in response to Beijing tightening its grip on rare earth exports. These tariffs are scheduled to take effect from November 1, unless the two sides reach an agreement.
European stocks traded higher along with gains in BTC as futures tied to the S&P 500 rose 0.3%. The Euro Stoxx 50 index rose 0.25% and Germany’s DAX rose 0.15%. Meanwhile, gold fell nearly 1% to $4,089 as US inflation data came out.
Read: How much could Bitcoin, Ether, XRP and Solana rise after US inflation report?