Today’s crypto market rally comes on the positive progress in the US-China trade talks, with short liquidations soaring past $357 million. Top digital assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), are all up by 3-7% as global market sentiment improves. The ongoing trade talks in Malaysia are currently on a positive footing, leading to optimism that US President Donald Trump and Chinese counterpart Xi Jinping could finalize an agreement to ease trade tensions.
Crypto Market Rally: Bitcoins and Altcoins Stage Strong Show
Following today’s upside, the overall cryptocurrency market has added $200 billion to its market cap, with bulls eyeing a strong push above the $4 trillion milestone. On-chain analytics firm Glassnode reported that, for the first time since the market sell-off on October 10, both spot and futures Cumulative Volume Delta (CVD) have stabilized. The data indicates that aggressive selling pressure in the crypto market has eased over the past several days. This has further cleared the path for the crypto market rally to continue from here.
Source: GlassnodeAs the risk-on sentiment is back following the progressive trade talks, Bitcoin (BTC) and altcoins have been staging a strong show. On the other hand, yellow metal Gold, which has been the top performer in 2025 so far, has slid again by 1.3% and is moving to test the crucial support at $4,000.
Altcoins ETH, SOL, DOGE Among Top Performers As US-China Trade Talks Progress
As the risk-ON sentiment picks up, altcoins are making good moves with ETH, SOL, and DOGE leading the pump. On a multi-year chart, the altcoin market cap chart is forming a cup-and-handle pattern on a multi-year chart. Popular analyst Titan of Crypto noted that a breakout could soon be in sight for a massive 3x crypto market rally from here.
Source: Titan of CryptoFurthermore, the broader crypto market has also been following the US equity market. Since the October 10 lows, the S&P 500 has gained over $3 trillion in market value. Analysts note that this marks one of the most profitable market rallies in history, with a strong chance of another Fed rate cut this week, and Jerome Powell putting an end to quantitative tightening (QT) at the upcoming FOMC meeting.
Key Events This Week In Crypto and Global Market
With the November 1 deadline this Saturday, the US-China trade talks have progressed on a positive footing recently. This has set the tone for another Fed rate cut coming this week during the FOMC meeting on Wednesday, October 29. The CME Fed Watch tool shows a 96.7% probability for another 25 bps rate cut.
Furthermore, nearly 20% of the S&P 500 will be reporting their Q3 earnings this week. Adding to the market focus, Microsoft, Google, Meta, Apple, and Amazon are all set to report their quarterly earnings this week. Any positive development could further aid the crypto market rally ahead.
Source: https://coingape.com/crypto-market-rally-btc-eth-sol-doge-jump-3-7-as-us-china-trade-talks-progress/
