Bitcoin jumped above $88,000 as a phone call between Donald Trump and Chinas Xi Jinping eased investor nerves and pushed risk assets higher across crypto and stocks. Ethereum also climbed, signaling broader appetite for digital assets.
The snapshot
- Bitcoin (BTC) up 1.5% in 24 hours to $88,600, still down 4.5% over the week
- Ethereum (ETH) up 5% to $2,960, trimming weekly loss to 3%
- Total crypto market value: $3.3T, up 2% day over day; 24-hour volume: $159B
- Bitcoin market share at 56.6%; Ethereum share at 11.4%
Chinas Foreign Ministry said both countries are carrying out commitments from last months leaders meeting, a tone shift that markets read as risk-friendly.
Altcoins on the move
Large-cap tokens joined the rebound. XRP gained 7.3% to $2.19, Solana (SOL) rose 4% to $136, and BNB advanced 2.2% to $864.
Among smaller caps, RAIN surged 130% after biotech firm Envlivex unveiled a $212 million plan for a digital asset treasury (DAT) essentially corporate crypto reserves. Pumpfun (PUMP) added 12% to $0.0028, and Canton (CC) rose 10.6% to $0.0868.
Laggards included privacy coin Monero (XMR), down 2.4% to $386; Pi Network (PI), off 1.6% to $0.23; and Bittensor (TAO), lower by 1% to $295.
Flows and forced selling
Derivatives traders saw a shakeout. About $310 million in crypto positions were liquidated over 24 hours, according to Coinglass. Liquidations are forced trade closures when leverage runs out. Short sellers took the bigger hit at $185 million versus $126 million in long liquidations. Bitcoin led with $104 million liquidated, followed by nearly $80 million in Ethereum and more than $23 million in Solana.
Spot exchange-traded funds (ETFs) pulled in fresh capital on Friday: roughly $239 million for Bitcoin funds, over $55 million for Ethereum, about $11 million for Solana, and around $12 million for XRP. ETFs offer stock-like shares that track crypto, a simpler on-ramp for many investors.
What pros are saying
Paul Howard of Wincent said he doesnt expect Bitcoin to revisit $100,000 before early 2026. He said the firm is focused on supplying large over-the-counter (OTC) liquidity direct trades away from exchanges to institutions exiting positions into year-end. Despite near-term caution, he expects the building blocks of crypto to hold up and sees total value locked (TVL) the crypto in Decentralized Finance (DeFi) apps rising over the next 12 months.
Why this matters
- Macro tailwind: A calmer U.S.China backdrop often helps risk assets, including Bitcoin and Ethereum.
- Healthy breadth: Gains beyond BTC suggest the rally isnt completely one-note.
- ETF demand: Fresh inflows point to steady interest from traditional investors, even as prices chop.
- Leverage reset: Liquidations cleared out weak hands, which can reduce near-term selling pressure.
Wider markets check
U.S. stocks rallied Monday, led by big tech and chip names such as Google and Tesla, as traders weigh the chance of a Federal Reserve rate cut in December. Gold steadied between $4,040 and $4,080 per ounce after dipping below $4,000 last week. Crude oil fell, with analysts citing talks around a U.S.-proposed UkraineRussia peace plan that could point to more Russian supply.
What to watch next
- Diplomacy headlines: Any progress or setbacks in U.S.China relations can swing risk mood quickly.
- ETF flows: Another week of net inflows would support price stability into year-end.
- Leverage levels: If funding rates and open interest rebuild, volatility could return fast.
- DeFi activity: A sustained rise in TVL would back the view that fundamentals are improving beneath the surface.