China and US Engage in Key Trade Negotiations at ASEAN Summit

China’s Vice Premier He Lifeng and key US officials are set to begin trade negotiations in Malaysia on October 24, during the 47th ASEAN Summit.

These discussions aim to ease US-China trade tensions, which could impact global markets, including cryptocurrencies like Bitcoin and Ethereum.

China and US Set Stage for Trump-Xi Summit

Statements by leaders reflect cautious optimism. As expressed by Scott Bessent on social media, these talks are intended as “frank and detailed discussions.” Chinese media similarly described the engagements as “candid, in-depth, and constructive,” highlighting significant attention to economic and trade relations.

Vice-Premier He Lifeng and I engaged in frank and detailed discussions regarding trade between the United States and China… We will meet in-person next week to continue our discussions. – Scott Bessent, US Treasury Secretary

Bitcoin and Financial Markets Brace for Trade Fallout

Did you know? The 2018-2019 US-China trade escalations led to global market volatility, with cryptocurrencies like Bitcoin experiencing spikes as safe-haven assets during CNY depreciation.

Bitcoin (BTC) is experiencing dynamic market movements, trading at $110,241.65 with a 24-hour volume of 73,948,429,242.00 and a market cap of 2,198,061,722,245.00. Observed price changes: 24-hours up by 2.01%; over 90 days, a decline of 4.44%. (Data: CoinMarketCap, October 23, 2025)

Experts suggest the trade talks may influence market stability, shaping short-term economic expectations. Crypto markets, historically sensitive to macroeconomic shifts, might see adjustments in volatility as outcomes unfold. Monitoring policy developments is crucial for understanding their potential impact across financial markets.