Crypto markets react positively after Trump confirms meeting with Xi on October 31

• Trump and Xi boost cryptocurrency market
• Bitcoin Rises After Easing Trade Tensions
• Altcoins Recover Value with Bullish Sentiment

The confirmation of a meeting between current US President Donald Trump and Chinese leader Xi Jinping, scheduled for October 31, sparked a wave of recovery in the cryptocurrency market. Expectations of a reduction in trade tensions followed a period of intense instability triggered by Trump's previous statements, in which he claimed there was "no reason" to meet with Xi during the APEC summit in South Korea.

At the time, the imposition of new trade tariffs against China triggered a sharp market decline, wiping out up to 99% of the value of some altcoins. The president's social media posts resulted in nearly $20 billion in liquidations in the derivatives market, considered the largest such event in cryptocurrency history. The combination of excessive leverage, low liquidity, and accumulated risk exacerbated the collapse.

With the confirmation of the meeting between the leaders, the price of Bitcoin (BTC), which was around $108.903, rose approximately 2% on Sunday. The movement wasn't limited to BTC, as other cryptocurrencies also showed a gradual recovery.

Ether (ETH), trading at around $3.982, and Binance Coin (BNB), valued at approximately $1.115,94, both rose about 3,5%. Solana (SOL), trading at around $188,74, saw a gain of nearly 4%, according to market data at the time of this analysis.

Despite the recent rally, overall investor sentiment had reached critical levels days earlier. The Crypto Fear and Greed Index fell to 22 on Friday, reflecting "Extreme Fear" and demonstrating caution in the face of a possible prolonged trade war between the United States and China.

Even so, analysts at Kobeissi Letter highlighted that the previous decline may have been a short-lived technical movement. They indicated that the long-term upward trend remains valid, especially given the possibility of dialogue between major global economies.

The meeting between Trump and Xi Jinping will be closely watched by investors, who are now monitoring political developments as triggers for the future behavior of the cryptocurrency market.