Crypto prices today (Oct. 24): BTC, ETH, XRP recover as White House confirms Trump-Xi meeting
Crypto prices today edged higher as easing U.S.-China geopolitical tensions lifted risk appetite across digital assets.
- Crypto market cap rose 1.7% to $3.8 trillion as BTC regained $111,000 and ETH neared $4,000.
- White House confirmed Trump–Xi meeting, easing trade war fears and driving a relief rally.
- Traders await U.S. CPI data as next catalyst for market direction.
The total crypto market cap rose 1.7% to $3.8 trillion, led by gains across major tokens. At press time, Bitcoin traded at $111,353, up 2.1% in the last 24 hours. Ethereum rose 3.1% to $3,948, BNB climbed 4.4% to $1,136, and XRP gained 1.7% to $2.42.
The Crypto Fear & Greed Index ticked up three points to 30, though market sentiment remains in ‘fear’ zone. According to CoinGlass data, crypto liquidations surged 52% to $242 million, mostly from short positions.
Total open interest increased 3.2% to $153 billion, a sign that traders are re-entering the market with fresh leveraged bets. The average crypto market relative strength index stands at 54, indicating a neutral momentum.
Trump-Xi meeting fuels crypto market relief rally
On Oct. 23, the White House confirmed Trump and Xi will meet in South Korea on Oct. 30, alongside the APEC summit. The confirmation eased investor anxiety after weeks of uncertainty surrounding the potential meeting.
Trade tensions have repeatedly pressured Bitcoin and other risk assets this month. Trump’s threats of 100% tariffs on Chinese goods and China’s export restrictions on rare-earth minerals triggered a $19 billion liquidation event earlier in October. The new development appears to be boosting sentiment.
Equity markets also reacted positively, with the Dow Jones up 0.31% and the Nasdaq rising 0.89%, helping crypto prices recover in tandem. Analysts say volatility will likely increase closer to the meeting, with bullish targets near $115,000 for BTC if de-escalation continues, and downside risks to $105,000 if tensions reignite.
Trump’s pardon of CZ and CPI outlook
Adding to bullish sentiment, Trump pardoned Binance founder Changpeng “CZ” Zhao on Oct. 23, calling prior penalties “Biden-era overreach.” The move could restore CZ’s standing in the U.S. and potentially ease regulatory pressure on global exchanges, a development traders view as a “pro-crypto signal” further into Q4.
Still, investors are cautious ahead of the U.S. consumer price index data release on Oct. 24. Economists forecast headline inflation at 0.4% month-on-month and 3.1% year-on-year. A hotter print could weigh on Bitcoin toward, while softer inflation could push prices back toward $115,000 and beyond.
