Bitcoin Tops $113K as Risk Appetite Returns on US–China Trade Progress

Bitcoin surged past $113,000 in late Asian trading hours on Sunday — its highest level in nearly two weeks — as signs of progress in US–China trade negotiations boosted sentiment across global markets and fueled a rebound in risk assets.

Top negotiators from both nations said they had reached a “preliminary consensus” on several key issues, including export controls, fentanyl regulation, and shipping levies. Meanwhile, US Treasury Secretary Scott Bessent told CBS that President Donald Trump’s proposed 100% tariffs on Chinese imports were now “effectively off the table.”

The remarks followed two days of talks in Malaysia and set the stage for an upcoming Trump–Xi meeting, expected to finalize a broader trade framework.

The improved tone quickly rippled through financial markets. US and Asian equity futures advanced, while gold retreated slightly from recent highs as investors rotated back into higher-risk assets.

In crypto markets, ether (ETH) climbed 2.6% to around $4,060, while BNB and Solana (SOL) each gained roughly 4.5%. XRP rose 2.3% to $2.64, extending last week’s rally amid continued optimism around XRP-linked ETF inflows. Tron’s TRX, however, bucked the trend, slipping 2.9%.

According to CoinGecko, the total crypto market capitalization rose 1.8% to $3.72 trillion, partially recovering from the recent liquidation-driven declines seen earlier in October.

Analysts noted that easing trade tensions have offered markets a temporary reprieve after several weeks of macro-driven turbulence. However, attention now shifts to the Federal Reserve’s upcoming policy meeting, where traders will look for signals of a more dovish tone.

For now, the geopolitical relief appears enough to steady sentiment and keep Bitcoin’s October performance from becoming its weakest since 2015.