United States President Donald Trump confirmed on Sunday, October 20, 2025, that he will meet with China’s President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit in Seoul, South Korea, starting on October 31.
Trump announced the upcoming meeting to Maria Bartiromo of Fox News, following a recent de-escalation of trade tensions between the two nations. He spoke highly of Xi Jinping, calling him a “very strong leader” and an “amazing man,” and expressed confidence that a “fair deal” with China is achievable. This statement marks a reversal, as Trump had previously dismissed the idea of meeting Xi at the summit and had announced additional tariffs, which led to a historic and severe market downturn in cryptocurrencies.
The President’s earlier tariff announcement and social media posts had triggered the worst crypto liquidation event in history, causing nearly $20 billion in liquidations in the crypto derivatives market and wiping out significant value across altcoins. This event was attributed to a combination of high leverage, low liquidity, and excessive risk.
Crypto Markets React
Following Trump’s confirmation of the meeting and the perceived de-escalation of trade tensions, the cryptocurrency market saw immediate gains.
- Bitcoin (BTC) rose by about 2%.
- Ether (ETH) and BNB both recorded gains of around 3.5%.
- Solana (SOL) saw an increase of nearly 4%.
This rally occurred despite recent negative market sentiment, which saw the Crypto Fear and Greed indicator drop to 22 (“Extreme Fear”) on Friday due to crash fallout and concerns over a prolonged trade war. However, analysts from the Kobeissi Letter maintain that the overall long-term bull trend remains intact, forecasting a short-lived market downturn driven by technical factors.
October 2025, Cryptoniteuae
