United States President Donald Trump has confirmed that he’ll meet Chinese language President Xi Jinping on the Asia-Pacific Financial Cooperation (APEC) summit in Seoul, South Korea, beginning October 31.
The announcement follows a latest de-escalation in commerce tensions between the 2 nations.
Trump confirms summit with Xi
Throughout an interview with Fox Information’ Maria Bartiromo, Trump said:
“[Xi Jinping] is a really robust chief, a really wonderful man. You’ll be able to have a look at what he’s accomplished, the place he’s in his life. It’s a tremendous story. It’s a narrative for an ideal film. I feel we’re gonna be fantastic with China, however now we have to have a good deal. It’s going to be truthful.”
Trump had earlier recommended there was “no cause” to fulfill Xi on the summit, coinciding with new commerce tariff threats that triggered a major market downturn and a wave of liquidations throughout digital asset derivatives markets.
Bitcoin value and sentiment rebound
Following the announcement, the worth of bitcoin rose about 2% on Sunday.
The rally got here after a interval of utmost concern within the markets, with the bitcoin concern and greed chart dropping to its lowest stage in six months.
Historic market crash preceded rally
The latest market turmoil was marked by practically $20 billion in liquidations, pushed by leverage and skinny liquidity.
Regardless of the crash, analysts on the Kobeissi Letter stated the downturn was doubtless technical and that the longer-term bullish development for bitcoin stays intact.
Market sentiment stays cautious however has improved since Trump’s announcement.
The prospect of eased US-China tensions is considered as a optimistic catalyst for threat belongings like bitcoin.