Bitcoin and European Stocks Rise Ahead of Trump-Xi Meeting

Bitcoin (BTC) traded above $111,000 Friday morning in Europe, buoyed by confirmation of an upcoming meeting between U.S. President Donald Trump and Chinese President Xi Jinping.

The leaders are scheduled to meet on October 30 on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit in South Korea, marking their first face-to-face encounter since Trump took office.

The meeting comes amid escalating trade tensions, with Trump announcing 100% tariffs on Chinese imports in response to Beijing’s tightening of rare earth exports. The tariffs are set to take effect November 1 unless a deal is reached beforehand.

European markets rose in tandem with BTC, with S&P 500 futures up 0.3%, the Euro Stoxx 50 index up 0.25%, and Germany’s DAX climbing 0.15%. Meanwhile, gold dropped nearly 1% to $4,089 as investors awaited U.S. inflation data.