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Bitcoin Price Today: Drop to $110K After Trump–Xi Meeting
Bitcoin fell on Thursday as traders assessed the outcome of the meeting between U.S. and Chinese leaders, while cautious comments from the Federal Reserve added further pressure.
The world’s largest cryptocurrency slipped 2.5% to $110,225.3 by 1:52 PM Moscow time, nearly erasing last week’s rebound. Bitcoin is also posting losses for October, struggling to recover from the sharp early-month decline.
Trump Calls Meeting With Xi “Fantastic,” But Details Remain Unclear
Trump said Thursday that he had an “amazing, outstanding” meeting with Xi Jinping in South Korea.
He told reporters that a trade deal with China was “fairly close”, and that Beijing had agreed to rare-earth metal supply and agricultural purchase deals — two long-standing points of contention.
Trump also announced that the U.S. would halve tariffs on fentanyl from China, cutting the overall tariff rate from 57% to 47%.
Despite the optimistic tone, markets await concrete details on the timing and scope of any trade agreement.
Trade tensions between the U.S. and China have little direct effect on crypto, but shifts in overall market sentiment often impact prices — the sharp early-October drop in Bitcoin was largely linked to renewed U.S.–China tensions.
Mastercard in Talks to Acquire Crypto Infrastructure Firm Zerohash — Report
Global payments giant Mastercard Inc (NYSE:MA) is in the final stages of negotiations to acquire Zerohash, a company specializing in crypto and stablecoin infrastructure, for $1.5–$2 billion, Fortune reported Wednesday.
The deal could be one of Mastercard’s largest acquisitions to date, signaling deeper integration of blockchain technology into traditional finance.
Stablecoins have become a major focus for financial institutions, especially since the U.S. established clear regulatory oversight earlier this year.
Crypto Prices Today: Altcoins Slip After Fed’s Rate Warning
The broader crypto market mostly declined on Thursday, tracking Bitcoin’s move lower as cautious Fed comments weighed on investor sentiment.
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Ether fell 2.7% to $3,915.69
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BNB dropped 0.8% to $1,112.40
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XRP lost 2.5%,
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Solana and Cardano slipped 0.3% and 1.1%, respectively
Among meme coins, Dogecoin dropped 1.7%, while $TRUMP outperformed the market, rising nearly 5% after Bloomberg reported that Fight Fight Fight LLC, the token’s issuer, was in talks to acquire Republic.com’s U.S. operations.
Overall, crypto sentiment remains weak, particularly after the Fed warned that a December rate cut is not guaranteed.
The Federal Reserve cut rates by 25 basis points, as expected — its second reduction this year — but signaled caution amid persistent inflation and a prolonged government shutdown, which it said is clouding its view of the U.S. economy.
Typically, lower interest rates benefit cryptocurrencies by freeing up liquidity for speculative assets.
See also: "BitMine Acquires $113 Million Worth of Ethereum from BitGo"
