As per DL News, crypto markets jumped on Sunday amid reports that the US and China made progress in high-stakes trade negotiations. Bitcoin and Ethereum rose 1.6% and 2.8%, respectively, as officials indicated that threats of 100% tariffs and export controls were unlikely to proceed. US Treasury Secretary Scott Bessent stated that the threat of immediate export controls and tariffs has been removed. Earlier in October, China announced further restrictions on rare earth exports, prompting US President Donald Trump to threaten 100% tariffs and export controls on critical software. This led to a major market crash, with Bitcoin plunging 16% and over $19 billion in crypto liquidations. However, renewed trade optimism has now driven a recovery in prices.
Crypto Markets Rise on US-China Trade Detente
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