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Bitcoin, European Stocks Buoyant as Trump-Xi Meeting Confirmed
The impending meeting comes amid escalating trade tensions, with President Trump threatening to impose additional tariffs on China
Oct 24, 2025, 7:40 a.m.
What to know:
- BTC, European stocks and S&P 500 futures traded positive as White House confirmed Trump-Xi meeting.
- The meeting comes amid escalating trade tensions, with Trump threatening additional tariffs on China.
Bitcoin traded above $111,000 on Friday morning in Europe, supported by news of a confirmed meeting between U.S. President Donald Trump and Chinese President Xi Jinping.
The two leaders will meet on Oct. 30 on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit in South Korea – the first face-to-face encounter since Trump took office.
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The meeting comes amid escalating trade tensions, with Trump announcing additional 100% tariffs on Chinese imports in response to Beijing tightening its grip on rare earth exports. These tariffs are set to take effect on Nov. 1 unless the two sides reach a deal by then.
European stocks traded higher alongside gains in BTC as futures tied to the S&P 500 rose 0.3%. The Euro Stoxx 50 index rose 0.25% and Germany's DAX gained 0.15%. Gold, meanwhile, dropped nearly 1% to $4,089 as the U.S. inflation data loomed.
Read: How Much Could Bitcoin, Ether, XRP and Solana Move After the U.S. Inflation Report?
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