Bitcoin climbed above $113,000 in late Asian hours Sunday, its highest in nearly two weeks, as traders welcomed signs of progress in US–China trade talks that eased fears of another tariff spiral.
Top negotiators from both nations said they had reached a “preliminary consensus” on several contentious issues — including export controls, fentanyl, and shipping levies — while US Treasury Secretary Scott Bessent told CBS that President Donald Trump’s threat of 100% tariffs on Chinese goods is “effectively off the table.”
The comments came after two days of talks in Malaysia and ahead of a planned Trump–Xi meeting to finalize a broader deal.
That risk sentiment across global markets. US and Asian equity futures advanced, and gold pulled back slightly from recent highs as traders rotated back into risk assets.
Crypto joined the move higher, with ether adding 2.6% to trade near $4,060, while BNB and Solana gained roughly 4.5% each. XRP jumped 2.3% to $2.64, extending last week’s rally tied to ETF optimism. Tron’s TRX was the lone major token in red, down 2.9%.
The broader crypto market cap rose 1.8% to $3.72 trillion, CoinGecko data shows, reversing some of the declines that followed this month’s liquidation cascade.
Analysts say the easing trade rhetoric has given traders breathing room after weeks of macro-driven volatility.
With the Federal Reserve’s next policy meeting less than a week away, a sustained breakout likely depends on how dovish the central bank’s tone turns. For now, relief on the geopolitical front has been enough to let crypto exhale — and keep bitcoin’s October from ending in its worst since 2015.