United States President Donald Trump confirmed on Sunday that he is meeting with China\u2019s President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit in Seoul, Korea, slated to begin on October 31.<\/p>\n
\u201cWe’re going to meet in a couple of weeks. We’re going to meet in South Korea, with president Xi and other people, too,\u201d Trump told<\/a> Maria Bartiromo of Fox News, following a de-escalation of trade tensions<\/a> between China and the US. Trump said on Sunday:<\/p>\n \u201c[Xi Jinping] is a very strong leader, a very amazing man. You can look at what he’s done, where he is in his life. It is an amazing story. It’s a story for a great movie. I think we’re gonna be fine with China, but we have to have a fair deal. It’s going to be fair.\u201d<\/p><\/blockquote>\n Trump previously said<\/a> there was \u201cno reason\u201d to meet Xi Jinping at the APEC summit in South Korea, followed by an announcement of additional trade tariffs on China, which sent crypto markets into a downward spiral<\/a>, wiping away 99% of value on some altcoins.<\/p>\n The social media posts from Trump ignited a cascade of nearly $20 billion in liquidations<\/a> in the crypto derivatives market \u2014 the worst crypto liquidation event in history \u2014 which was exacerbated by a perfect storm of leverage<\/a>, thin liquidity, and excessive risk.<\/p>\n Related: <\/strong><\/em>Trump confirms US is in a trade war with China<\/strong><\/em><\/a><\/p>\n The price of Bitcoin (BTC<\/a>) rose by about 2% on Sunday, following Trump\u2019s comments, and BTC wasn\u2019t alone in seeing modest gains.<\/p>\n Crypto rallied across the board, with Ether (ETH<\/a>) and BNB (BNB<\/a>) each recording a gain of about 3.5%, with Solana\u2019s SOL (SOL<\/a>) rising by nearly 4%, at the time of this writing, according to data<\/a> from TradingView.<\/p>\n Market sentiment hit a six-month low<\/a> in the wake of the historic crypto market crash and investor fears of a protracted trade war<\/a> between the US and China.<\/p>\n The Crypto Fear and Greed indicator dropped to a low of 22 on Friday, signaling<\/a> \u201cExtreme Fear\u201d and investor caution regarding the crypto market.<\/p>\n However, analysts at the Kobeissi Letter forecast a short-lived market downturn<\/a> due to technical factors and said that the long-term bull trend is still intact.<\/p>\nCrypto market reacts to de-escalation of trade tensions<\/h2>\n