The market remains uncertain amid escalating U.S.–China trade tensions. Earlier this month, Chinese authorities tightened export controls on rare earth metals — a move that directly affects high-tech production, including cryptocurrency mining. In response, the White House announced an additional 100% tariff on Chinese imports starting November 1. If implemented, trade between the two largest global economies could effectively halt, slowing global economic growth. As a result, most investors are turning to safe-haven assets, particularly gold, while maintaining caution toward digital tokens. The “Fear and Greed Index” remains at 30. Today, the crypto market is showing signs of stabilization after the White House confirmed an upcoming meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the APEC Summit in Seoul on October 31. However, analysts warn that the situation could worsen if no consensus is reached.
Investors are also focused on the upcoming U.S. Federal Reserve meeting on monetary policy, scheduled for Wednesday at 20:00 (GMT+2). Most traders expect a 25-basis-point rate cut to support the labor market — a move that could weaken the dollar and strengthen digital assets. Still, Fed officials may signal a slower pace of easing in the future, as inflation levels remain above target.
Among positive developments for the crypto community is Donald Trump’s pardon of Binance founder Changpeng Zhao (CZ), who was convicted during Joe Biden’s presidency for violating the U.S. Bank Secrecy Act by failing to implement an effective anti–money laundering program. Zhao expressed gratitude to the administration and pledged to help make the United States a global crypto leader and promote Web3 adoption worldwide. Analysts believe he may either return to Binance or launch a new venture.
Overall, the digital asset market remains in a state of cautious consolidation, awaiting key monetary and political decisions next week that will shape medium-term trends for leading cryptocurrencies.