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Crypto collapse after Trump-Xi summit: $150 million liquidated!
Bitcoin and cryptocurrencies suffer losses after Trump-Xi meeting as liquidations exceed $150 million.
Crypto collapse after Trump-Xi summit: $150 million liquidated!
On October 30, 2025, US President Donald Trump and Chinese President Xi Jinping met for trade talks in South Korea. The meeting ended on an optimistic note after several significant decisions were made. China agreed to resume rare earth exports with a one-year deal and will buy US soybeans. Other topics of discussion included chips, particularly related to NVIDIA, and the US will reduce its tariffs from 57% to 47%, while additional tariffs on fentanyl were imposed. Despite these positive developments, the cryptocurrency market remained largely unchanged and failed to benefit from the meeting.
Within an hour of the meeting, there was a massive decline in the crypto market, with long-term liquidations exceeding $150 million. Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) all saw declines of over 3% in the last 24 hours. FXStreet reported that total liquidations in the cryptocurrency market amounted to $812.03 million, of which $611.48 million came from long-term liquidations and $200.55 million came from short-term liquidations.
Unpredictable markets
The decline in cryptocurrencies comes at a time when the US Federal Reserve, led by Jerome Powell, is issuing hawkish statements. Powell made it clear that further rate cuts were not guaranteed and said that uncertainties in financial data caused by a U.S. government shutdown could affect future interest rate trends. Given these uncertainties, the Federal Reserve cut interest rates by 25 basis points to a range of 3.75% to 4%.
In the hour following the Trump-Xi call, there was a jump in total liquidations to $223.76 million, with $157.39 million in long-term liquidations and $66.37 million in short-term liquidations. This turmoil in the cryptocurrency landscape highlights the volatility and diverse influencing factors impacting the markets.
Current market developments
Currently, the cryptocurrency market cap is hovering at $3.75 trillion, down nearly 3% in the last 24 hours. Current trading prices are as follows:
- Bitcoin: Unter 110.000 US-Dollar
- Ethereum: Unter 3.900 US-Dollar
- Ripple: Unter 2,55 US-Dollar
The developments of the last few days show once again that geopolitical events and economic conditions have a significant influence on the financial markets.