Bitcoin tops $111K on optimism ahead of US-China presidential meeting

Bitcoin climbed 2.38% over the past 24 hours to reach $111,155 on Friday, fueled by optimism surrounding an upcoming US-China presidential meeting, which lifted market sentiment amid ongoing trade uncertainties.

As of 10:12 am IST, Ethereum was up by 2.97% in the past 24 hours at $3,958. Other major tokens—including BNB, XRP, Solana, Dogecoin, Cardano, and Hyperliquid—surged up to 6.87% in the past 24 hours, whereas Tron went down by 2.66% in the same period. Overall, the crypto market capitalisation went up by 2.02% to $3.72 trillion, according to CoinMarketCap.

Also Read | 5 equity mutual funds offer over 15% returns in 9 months. Check top performers

According to CoinSwitch Markets Desk, the broader crypto market recorded slight upside as sentiment improved with news of an upcoming US-China presidential meeting added optimism during a period of trade uncertainty, and BTC’s key support stands near $109K and resistance at $111.5K. A breakout above this level could pave the way toward $113K–$114K.

Investors now await today’s US CPI report, where a softer reading could boost crypto sentiment by strengthening expectations of further rate cuts, the CoinSwitch Markets Desk added.

In the past week, Bitcoin has jumped by 2.08% and Ethereum has gone up by 1.04% in the same time period. Among the altcoins, BNB and Tron were down by nearly 1% whereas others witnessed a surge.

Edul Patel, CEO of Mudrex, says that the crypto market is on an upward trend, with the total market cap growing by over 2% ahead of today’s CPI data.

“The news around Trump’s meeting with China’s President Xi has increased the odds of a trade deal, boosting market sentiment. At the same time, expectations around Quantitative Easing by the Fed have also created a favourable environment for crypto. If CPI data comes in softer than expected, Bitcoin could break above the $113,600 resistance, making way for further gains, while support is seen near $107,200,” Patel added.

Also Read | Planning to save Rs 15,000 monthly? Here is how much you will generate in 25 years

Market perspective

CoinDCX Research Team

The Bitcoin price is recovering as it rises above the pivotal resistance at $110,000, while the rest of the cryptos within the top 10 remain consolidated. Ethereum struggles to reach $3900, while BNB trades below $1200, XRP below $2.5, Dogecoin below $0.2 and Cardano below $0.65. The market capitalisation surged above $3.7 trillion; however, the sentiments continue to remain under fear.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Source link

Visited 1 times, 1 visit(s) today

Related Article

Chief prosecutor says top official would not call China an enemy

Chief prosecutor says top official would not call China an enemy

Dominic CascianiHome and Legal Correspondent PA Media Stephen Parkinson has broken his silence ahead of a committee appearance The director of public prosecutions has said the China spy case collapsed because a top national security official could not say the country had been classed as an “enemy” when the Conservatives were in power. In a

Anand calls China a “strategic partner” during meeting with officials

Anand calls China a “strategic partner” during meeting with officials

Source: Facebook Foreign Affairs Minister Anita Anand met with her Chinese counterpart to celebrate 20 years of the “Canada-China Strategic Partnership” and to discuss strengthening Canada’s ties with the country controlled by a Communist party. Global Affairs Canada released a briefing on the meeting with China’s foreign minister Wang Yi last Friday, saying it was

US Stock Market Navigates Record Highs Amidst Government Shutdown and Wealth Surge

China’s EDA Breakthroughs: A Leap Towards Semiconductor Sovereignty Amidst Global Tech Tensions

Shanghai, China – October 24, 2025 – In a significant stride towards technological self-reliance, China’s domestic Electronic Design Automation (EDA) sector has achieved notable breakthroughs, marking a pivotal moment in the nation’s ambitious pursuit of semiconductor independence. These advancements, driven by a strategic national imperative and accelerated by persistent international restrictions, are poised to redefine

The winners and losers from China’s next five-year plan

The winners and losers from China’s next five-year plan

This week, Chinese leadership officially raised the curtain on the country’s fifteenth five-year plan, which outlines its broad economic, political, social, and military goals into the next decade. The bottom line is more of the same. For the economy, that means more money to high-tech industries and scientific development and more support for the export

Who is giving evidence on the collapsed China spy trial?

Who is giving evidence on the collapsed China spy trial?

Jack FenwickPolitical correspondent Reuters Senior officials at the heart of the row over the collapsed China spy trial will appear before a parliamentary committee next week. The Joint Committee on the National Security Strategy will hold its first public evidence session on Monday, into prosecutors’ decision to drop charges against Christopher Cash and Christopher Berry,

TSMC’s Q3 2025 Results Couldn’t Lower China Concerns — TradingView News

TSMC’s Q3 2025 Results Couldn’t Lower China Concerns — TradingView News

Source: Leverage Shares analysis While the Taiwan-listed ticker soared before moderating in the present week, the U.S.-listed ticker (wherein each ADS comprises of 5 ordinary shares) showed a distinctly bearish flavour. The factors behind this are directly related to the outlook on AI chip buy-ins as well as the ongoing U.S.-China trade tensions. Trend Analysis