Bitcoin surged above $111,000 after the White House confirmed that President Donald Trump and Chinese President Xi Jinping will meet in Washington on October 30. The news lifted global market sentiment, as traders interpreted the announcement as a sign of renewed U.S.–China cooperation and easing trade tensions.
The confirmation came from White House Press Secretary Karoline Leavitt, who stated that President Trump “will not tolerate unfair trade practices” and emphasized the administration’s focus on restoring fair competition and strengthening domestic manufacturing. The meeting will mark the first in-person encounter between Trump and Xi since Trump’s return to office, following a phone conversation in June 2025.
Markets responded swiftly, with Bitcoin jumping more than 3% on the day, according to TradingView data. The crypto market’s rebound followed weeks of volatility triggered by Trump’s earlier decision to impose 100% tariffs on Chinese imports — one of the most impactful policy moves in recent years.
Analysts believe the October 30 meeting could address key economic concerns, including trade imbalances, tariffs, supply-chain resilience, and technology collaboration. Many view the talks as an opportunity to reset diplomatic relations after years of friction between Washington and Beijing.
The announcement also bolstered optimism across equity markets, as investors anticipate that the U.S. Federal Reserve may soon conclude its quantitative tightening phase. With improving diplomatic signals and easing policy expectations, risk assets like Bitcoin and tech stocks regained momentum after a cautious start to the week.
