Bitcoin Tops $113K, SOL, ADA, ETH Jump as US–China Trade Progress Lifts Risk Appetite

Bitcoin climbed above $113,000, reaching its highest level in nearly two weeks, driven by signs of progress in US-China trade negotiations that eased fears of escalating tariffs. Top negotiators from both nations reported reaching a "preliminary consensus" on several key issues, and US Treasury Secretary Scott Bessent indicated that President Trump's threat of 100% tariffs on Chinese goods was "effectively off the table."

This positive geopolitical development spurred a rotation back into risk assets across global markets, with US and Asian equity futures advancing and gold pulling back. Cryptocurrencies joined the rally; Ether (ETH) added 2.6% to trade near $4,060, while Solana (SOL) and BNB gained roughly 4.5% each. The broader crypto market capitalization rose 1.8% to $3.72 trillion.

Analysts suggest this easing of trade rhetoric provides temporary relief after weeks of macro-driven volatility. However, the sustainability of the crypto breakout likely depends on the Federal Reserve's tone at its upcoming policy meeting, though the current geopolitical relief was enough to prevent Bitcoin from having its worst October since 2015.

(Source：CoinDesk)