bitcoin was trading above $111,000 on Friday morning in Europe, supported by news of a confirmed meeting between US President Donald Trump and Chinese President Xi Jinping.
The two leaders will meet on October 30 on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit in South Korea, the first face-to-face meeting since Trump took office.
The meeting comes amid rising trade tensions, with Trump announcing additional 100% tariffs on Chinese imports in response to Beijing tightening its control over rare earth exports. These tariffs will take effect on November 1, unless the two sides reach an agreement by then.
European stocks traded higher alongside BTC gains, as futures linked to the S&P 500 rose 0.3%. The Euro Stoxx 50 index rose 0.25% and the German DAX gained 0.15%. Meanwhile, gold fell almost 1% to $4,089 as US inflation data loomed.
Read: How Much Could Bitcoin, Ether, XRP, and Solana Move After US Inflation Report?
