cryptocurrency marketThere are developments that increase mobility in the world. A whale who kept his name secret after US President Donald Trump announced that he would meet with Chinese President Xi Jinping on October 31 Bitcoin 
$106,264.64 And Ethereum 
$3,859.56He opened a long position worth 255 million dollars in total. Investors’ eyes are now focused on how the softening in US-China relations will reflect on the markets.
$225 Million Position Before Trump-Xi Meeting
Remarkable long position in the cryptocurrency market belongs to the US President Asia-Pacific Economic Cooperation It started with his confirmation of his upcoming meeting with Xi Jinping during the (APEC) Summit. Last week, the President announced a 100 percent tariff on Chinese goods as of November 1. customs duty Its implementation triggered a global sales wave. However, Trump softened his tone in an interview with Fox Business, emphasizing that China is a respected country and stated that the tariffs may not be permanent.
Immediately after this statement, a large investor opened a long position of $ 255 million and expressed his confidence about the change in direction of the market. showed. According to analysts, the move reflects the expectation that the expected softening in US-China relations may give new momentum to cryptocurrencies.
In the same period Chinese Remarkable diplomatic activity was also observed on the side. The Beijing administration dismissed Li Chenggang, its representative at the World Trade Organization (WTO). The sudden change of duty of Li, who is known for his disagreements with Washington, is interpreted as China wanting to move towards a more conciliatory line in the negotiations.
Bitcoin and Ethereum Rising Again
After Trump’s statements cryptocurrency There was a rapid recovery in the market. Bitcoin rose 3 percent to over $111,000 in a few hours. Ethereum, on the other hand, reached $ 4,038 with an increase of 3.48 percent. The total value of the cryptocurrency market increased by $100 billion in just ten hours.
However, after the rise, the same whale opened a new short position worth $76.1 million with 10x leverage, attracting market participants. surprised. Experts think that the investor, known for his past successful transactions, has already priced in a possible increase in volatility.
Still, analysts predict that Bitcoin may continue its current rally and reach new highs if tensions ease in the US-China line and the two sides re-establish trade dialogue. The market is now turning its attention to the critical meeting on October 31.
