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Green Shoots on China Lifts Crypto in Sunday Action
Both Beijing and Washington moved to calm trade tensions over the weekend.
Updated Oct 12, 2025, 5:44 p.m. Published Oct 12, 2025, 4:42 p.m.
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What to know:
- Crypto markets are posting advances on Sunday on eased trade tensions between D.C. and Beijing.
- "The U.S.A wants to help China, not hurt it," said President Trump in a Truth Social post.
- The gains, though, don't come close to erasing the historic declines seen Friday.
A modest reversal from Friday evening's carnage in crypto markets is underway after some calming trade war-related remarks from both Beijing and Washington.
The walk-backs began late Saturday when China's Ministry of Commerce said its rare-earth export controls are not blanket bans, and that eligible applications will continue to receive licenses. The agency further said it expected those controls to have just a "minimal impact" on global production and supply chains.
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In D.C. meanwhile, Vice President Vance on Sunday morning said President Trump appreciates his friendship with Chinese Premier Xi Jinping and is willing to be a reasonable negotiator with that country.
Shortly after, the president himself took to his Truth Social to lighten the mood: "Don't worry about China, it will be all fine! Highly respected President Xi just had a bad moment. He doesn't want Depression for this country, and neither do I. The U.S.A wants to help China, not hurt it!!!"
The news has sparked a bounce across crypto, with bitcoin returning to just above $114,000, higher by about 3% over the past 24 hours. In the far more harder hit alt sector, the moves are more sizable, with ether (ETH), solana (SOL) and all ahead in the 6%-8% area.
Needless to say, the bounce has erased only a modest portion of the losses since Trump's trade war threats on Friday tanked markets. Over the past week, bitcoin is down 7%, ether 8%, XRP and SOL 15%, and DOGE 19%.
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