Bitcoin Update: Bitcoin Rises Amid Renewed U.S.-China Trade Hopes, Easing Global Economic Concerns

On Sunday, Bitcoin soared above $113,000 for the first time since October 23, following comments from U.S. Treasury Secretary Bessent indicating advancements in trade talks with China. This surge followed Bessent’s statement that Beijing is “prepared” to finalize an agreement to eliminate President Donald Trump’s 100% tariff on Chinese imports, which was originally set to begin on November 1, according to a

. This news has sparked renewed optimism in the markets, with experts attributing the upswing to easing global economic concerns and revived trade discussions between the U.S. and China.

Trump’s tariff, announced on October 10, had rattled international markets, as he accused China of “dishonest” economic tactics. However, ongoing diplomatic efforts—including recent meetings between American and Chinese trade officials and an upcoming summit between Trump and President Xi Jinping in Europe—have opened the door to a possible solution. Bessent’s comments, shared via The Kobeissi Letter, indicate that the deal could not only prevent the looming tariff but also help steady trade relations ahead of Trump’s potential 2026 re-election campaign, as noted by CryptoPotato.

Bitcoin’s recent price jump fits a familiar pattern in the crypto market, where geopolitical events and trade disputes often fuel significant price swings.

, produced in collaboration with Block Scholes, observed that Bitcoin’s implied volatility surged in mid-October after a $19 billion liquidation event—the largest ever in crypto—sparked by renewed U.S.-China trade tensions. The report pointed out a rare inversion in BTC’s volatility term structure, last seen in April 2025, as traders rushed to hedge against further declines amid uncertainty.

While Bybit’s report linked the spike in volatility to broader economic pressures, the latest progress in trade negotiations could mark a shift. The analysis noted that Bitcoin’s implied volatility had dropped to just 25% on September 19, 2025, before the October surge, suggesting that confirmation of a U.S.-China agreement could bring further market calm.

Nonetheless, the road to a final deal is still uncertain. Trump’s approach to tariffs has often been unpredictable, and he has previously intensified disputes with allies such as Canada over similar matters. Just last week, he imposed a 10% tariff hike on Canadian products after an Ontario ad campaign used Reagan-era language to criticize U.S. tariffs—highlighting the delicate nature of ongoing trade talks.

At present, Bitcoin’s rally mirrors traders’ expectations that a U.S.-China agreement will ease protectionist measures and boost market sentiment. As Bessent pointed out, this deal could represent the “10th and final step” in Trump’s tariff policy, potentially paving the way for stronger economic growth and greater financial stability, according to CryptoPotato.

---