Bitcoin traded above $111,000 on Friday morning in Europe, supported by news of a confirmed meeting between US President Donald Trump and Chinese President Xi Jinping.
The two leaders will meet on October 30 on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea – the first face-to-face meeting since Trump took office.
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 November 1, unless the two parties reach an agreement before then.
European shares traded higher alongside gains in BTC as futures linked to the S&P 500 rose 0.3pc. The Euro Stoxx 50 index rose 0.25% and Germany’s DAX rose 0.15%. Gold, meanwhile, fell nearly 1% to $4,089 as US inflation data approached.
Read: How Much Could Bitcoin, Ether, XRP and Solana Move After US Inflation Report?
