United States President Donald Trump confirmed on Sunday, October 20, 2025, that he will meet with China’s President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit in Seoul, South Korea, starting on October 31.
Trump announced the upcoming meeting to Maria Bartiromo of Fox News, following a recent de-escalation of trade tensions between the two nations. He spoke highly of Xi Jinping, calling him a "very strong leader" and an "amazing man," and expressed confidence that a "fair deal" with China is achievable. This statement marks a reversal, as Trump had previously dismissed the idea of meeting Xi at the summit and had announced additional tariffs, which led to a historic and severe market downturn in cryptocurrencies.
The President's earlier tariff announcement and social media posts had triggered the worst crypto liquidation event in history, causing nearly $20 billion in liquidations in the crypto derivatives market and wiping out significant value across altcoins. This event was attributed to a combination of high leverage, low liquidity, and excessive risk.
Following Trump's confirmation of the meeting and the perceived de-escalation of trade tensions, the cryptocurrency market saw immediate gains.
This rally occurred despite recent negative market sentiment, which saw the Crypto Fear and Greed indicator drop to 22 ("Extreme Fear") on Friday due to crash fallout and concerns over a prolonged trade war. However, analysts from the Kobeissi Letter maintain that the overall long-term bull trend remains intact, forecasting a short-lived market downturn driven by technical factors.
October 2025, Cryptoniteuae