Bitcoin climbed above $113,000 in late Asian hours Sunday, its highest in nearly two weeks, according to Yahoo Finance. Top negotiators from the United States and China said they had reached a “preliminary consensus” on several contentious issues, including export controls, fentanyl, and shipping levies.

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US Treasury Secretary Scott Bessent told CBS that President Donald Trump’s threat of 100% tariffs on Chinese goods is “effectively off the table.” The comments followed two days of talks in Malaysia and preceded a planned meeting between President Trump and Xi Jinping to finalize a broader deal.

The development improved risk sentiment across global markets, with US and Asian equity futures advancing. Crypto joined the move higher, with ether adding 2.6% to trade near $4,060, while BNB and Solana gained roughly 4.5% each. XRP jumped 2.3% to $2.64, extending last week’s rally tied to ETF optimism. Tron’s TRX was the lone major token in the red, down 2.9%.

The broader crypto market cap rose 1.8% to $3.72 trillion, reversing some of the declines that followed a liquidation cascade earlier in the month. Analysts say the easing trade rhetoric has given traders breathing room after weeks of macro-driven volatility.

With the Federal Reserve’s next policy meeting less than a week away, a sustained breakout likely depends on the central bank’s tone. The relief on the geopolitical front has, for now, kept Bitcoin’s October from ending as its worst since 2015.

Source: IndexBox Market Intelligence Platform