Bitcoin rose on Monday, extending a weekend rebound as cooling concerns over a U.S.-China trade war helped spur more risk-driven buying action in cryptocurrency markets.
Crypto was also encouraged by persistent bets the Federal Reserve will cut interest rates later in October, while a broader rally in risk-driven assets also spilled over.
Bitcoin rose 3.5% to $110,608.3 by 01:20 ET (05:20 GMT). The world’s largest crypto had fallen as low as $103,000 amid a recent escalation in U.S.-China trade tensions.
Concerns over U.S. economic health had also weighed on crypto markets, as an ongoing government shutdown appeared set to enter its third consecutive week. Several key U.S. economic readings were delayed by the shutdown, leaving markets in the dark over the state of the world’s biggest economy, especially before a Federal Reserve meeting next week.
Bitcoin rebounds as Trump cools China rhetoric Bitcoin’s rebound came chiefly after U.S. President Donald Trump said on Friday that he viewed a prolonged trade war with China as “not sustainable,” and that he was still scheduled to speak with Chinese President Xi Jinping in about two weeks.
Separately, U.S. Treasury Secretary Scott Bessent also said that high-level trade talks with Chinese ministers were set to continue this week.
Their comments, which struck a far more conciliatory tone on a U.S.-China trade conflict, sparked increased bets that Trump will not make good on his threat of 100% tariffs against China. This in turn sparked a rally across risk-driven markets.
Crypto price today: altcoins rebound, Ether back above $4k Broader crypto prices rose tracking Bitcoin’s rebound on Monday, with most altcoins logging a sharp recovery from recent losses.
World no.2 crypto Ether rose 4.1% to $4,057.96, retaking the closely watched $4,000 level.
XRP rose 4.2% to $2.4510, while BNB rose 3.6% to $1,130.20.
Solana rose 3.2%, while Cardano jumped 5.4%.
Among meme tokens, Dogecoin rose 5.6%, while $TRUMP rose 2.2%.
Bitcoin and broader crypto prices were trading lower for October, largely in contrast to earlier years where crypto markets tended to outperform in the month-- a trend dubbed as "uptober."
Bitcoin and Ether were trading down some 2% apiece so far in October.
