Bitcoin steadied around $115,000 on Monday after a sharp selloff last week, as US President Donald Trump walked back his threat to impose massive tariffs on China, saying in a Truth Social post that trade relations with the country “will all be fine.” On Friday, bitcoin plunged over 10% to below $110,000 after Trump warned of an additional 100% tariff on Chinese goods starting November 1 in response to Beijing’s new export controls on rare earth minerals, triggering selloff across financial markets. China responded over the weekend, vowing to retaliate if the US follows through on the measures. However, tensions appeared to ease as officials from both sides issued conciliatory statements on Sunday, signaling a willingness to resume trade negotiations ahead of a possible Trump-Xi meeting later this month.
