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Bitcoin Rises Above $111,000 as Trade War Fears Ease
Bitcoin climbed above $111,000 on Friday, heading for a weekly gain as confirmation of a meeting between U.S. President Donald Trump and Chinese President Xi Jinping next week eased fears of a trade war, while investors awaited key inflation data due later in the day.
The world’s largest cryptocurrency rose about 2% to $111,410.9 as of 09:58.
Bitcoin is set to gain 3% for the week after sharp losses over the past two weeks.
Bitcoin Rallies Ahead of Trump–Xi Meeting
Bitcoin rebounded from early-week lows as traders welcomed signs of thawing relations between Washington and Beijing.
The White House on Thursday confirmed that Trump and Xi will meet on the sidelines of the APEC summit in South Korea.
The announcement followed weeks of tariff threats and retaliatory rhetoric that had unsettled financial markets.
News of the high-level meeting came alongside ongoing trade discussions in Malaysia, where U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer met with Chinese Vice Premier He Lifeng to ease tensions ahead of the leaders’ talks.
The negotiations aim to prevent another round of tariffs — including a proposed 100% tax on Chinese imports by Washington — and to address Beijing’s recent export restrictions on rare-earth minerals.
Easing trade war fears boosted risk appetite across markets, lifting not only equities but also cryptocurrencies, which have increasingly traded in tandem with broader investor sentiment.
Investors also await U.S. Consumer Price Index (CPI) data for September, delayed by the recent government shutdown, to be released later in the day.
The report is expected to provide fresh clues as to whether inflation pressures have eased enough to justify a Federal Reserve rate cut at next week’s policy meeting.
Trump Pardons Binance Founder “CZ” Zhao
President Donald Trump has issued a full pardon for Changpeng Zhao, the founder of Binance and a convicted felon.
White House Press Secretary Karoline Leavitt confirmed the move on Thursday.
Zhao, a billionaire known as “CZ”, pleaded guilty in late 2023 to failing to maintain an adequate anti–money-laundering program and served four months in prison under a settlement in which Binance paid a $4.3 billion fine.
In a post on X (formerly Twitter, banned in Russia), Zhao said he was “deeply grateful” for the pardon and “determined to help make America the crypto capital of the world.”
Crypto Prices Today: Most Altcoins Rise, Polygon Slips
Most altcoins also gained on Friday but remained range-bound amid overall caution.
- Ethereum rose 2.4% to $3,978.55.
- XRP gained 1.1% to $2.44.
- Solana climbed 3.2%, and Cardano added 1.6%, while Polygon dropped 3.5%, bucking the trend.
- Among meme tokens, Dogecoin and $TRUMP both rose nearly 2%.
See also: "Retail Investors Sell $1.4 Billion in BTC Amid Whale Accumulation"
