Bitcoin Hits 88K As Trump Updates On His Positive Call With President Xi

TLDR

• Bitcoin jumped from $85K to $88K on Monday after Trump remarked on China.
• The S&P 500 gained 1.5%, and the Nasdaq added nearly 2% on market optimism.
• The broader crypto market rose 2.2% with modest gains across top tokens.
• Trump called the China relationship “extremely strong” on Truth Social.

Bitcoin started Monday trading lower, briefly dropping near $85,000 after slipping from Sunday’s rally peak. The digital asset had gained from Friday’s low of $80,000 to $88,000 by Sunday but faced selling pressure early in the week.

However, the price quickly reversed after U.S. President Donald Trump posted a message on Truth Social. He described a recent phone call with Chinese President Xi Jinping as “very good” and emphasized progress on several matters between the two countries. Following the post, Bitcoin surged again to reach $88,400, according to TradingView data.

The rise marked a near 2% gain from intraday lows, reinforcing Bitcoin’s ongoing attempts to move past the $90,000 psychological barrier.

Equities and Crypto Markets Gain Ground

The broader financial markets reacted positively to Trump’s post. U.S. equities saw strong gains on Monday, with the S&P 500 increasing by 1.5% and the Nasdaq rising nearly 2%. Analysts noted increased investor confidence in risk assets following signs of improved U.S.-China relations.

The crypto market also experienced gains alongside Bitcoin. The total market capitalization increased by 2.2%, as top 100 cryptocurrencies posted mostly single-digit percentage rises. Ethereum, Solana, and BNB all moved slightly higher during the session.

Market participants appeared to welcome easing geopolitical tensions, especially following weeks of uncertainty tied to U.S.-China trade threats.

Trump’s Statement on China Relations

Donald Trump’s post described the U.S.-China relationship as “extremely strong” and said that both countries had made progress since their meeting in South Korea the previous month. He added that discussions covered multiple topics, including future state visits between the two leaders.

“We agreed that it is important that we communicate often, which I look forward to doing,” Trump wrote on Truth Social. He also confirmed that he would be visiting China and that President Xi would make a reciprocal visit to the U.S. next year.

This call came after recent tensions, where Trump had earlier proposed tariffs of up to 150% on Chinese goods. Those threats had caused volatility in crypto and equity markets in early October

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