United States President Donald Trump confirmed on Sunday that he is meeting with Chinese President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) Summit in Seoul, Korea, which ended on October 31.
“We will meet in a few weeks. We will meet in South Korea, with President XI and other people,” Trump said Maria Bartiromo of Fox News, following a De-escalation of trade tensions between China and the US. Trump said on Sunday:
“(Xi Jinping) is a very strong leader, an amazing person. You can look at what he’s done, where he’s at in his life. It’s an amazing story. It’s a story for a great movie. I think we’re going to be fine in China, but we have to have a fair deal. It’s going to be fair.”
Trump used to said There is no “excuse” to meet Xi Jinping at the APEC Summit in South Korea, which was followed by an announcement of additional trade tariffs on China, which sent crypto markets into a downward spiralwipe 99% of the value in some altcoins.
Social media posts from Trump ignore a Cascade of almost $ 20 billion in liquids In the Crypto Derivatives Market – the worst crypto liquidation event in history – which compounded by a perfect storm of actionthin liquidity, and excessive risk.
Related: Trump confirms we are in a trade war with China
The Crypto market responded to the de-escalation of trade tensions
The price of bitcoin (BTC) rose nearly 2% on Sunday, following Trump’s comments, and BTC wasn’t alone in seeing modest gains.
Crypto rallied across the board, with ether (Eth) and BNB (BNB) each recording a gain of about 3.5%, including Solana’s Sol (Sol) is up nearly 4%, at the time of this writing, according to Data from Tradingview.
Market sentiment hit a six-month low At the end of the historic crypto market crash and Investors fear a trade war between the US and China.
The crypto fear and greed indicator dropped to a low of 22 on Friday, sign “Extreme fear” and investor caution about the crypto market.
However, analysts in Kobeissi’s letter Forecasting a short-lived market crash Due to technical reasons and said that the long-term bull trend is still intact.
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