Bitcoin and European Stocks Gain Ahead of Trump-Xi Summit
Bitcoin (BTC) rose above $111,000 Friday morning in European trading, supported by news of a confirmed meeting between U.S. President Donald Trump and Chinese President Xi Jinping.
The two leaders are scheduled to meet on October 30 during the Asia-Pacific Economic Cooperation (APEC) Summit in South Korea, marking their first in-person discussion since Trump assumed office.
The summit comes amid escalating trade tensions. Trump has announced 100% tariffs on Chinese imports following Beijing’s tighter control of rare earth exports. These tariffs are set to take effect November 1 unless a deal is reached beforehand.
European stocks mirrored the bullish sentiment, with S&P 500 futures up 0.3%, the Euro Stoxx 50 rising 0.25%, and Germany’s DAX gaining 0.15%. Meanwhile, gold fell nearly 1% to $4,089 as investors awaited U.S. inflation figures.
