Bitcoin rose 2.62% to $109,777.25 following confirmation from U.S. Treasury Secretary Scott Bessent that a U.S.-China trade deal is expected to be signed next week. The agreement, which includes China pausing rare earth export controls and the U.S. reducing fentanyl tariffs, was reached after a meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the APEC Summit in Seoul. The announcement spurred a market rally, with total liquidations reaching $113.14 million, predominantly from short positions amounting to $64.71 million. The positive sentiment around the trade deal has contributed to Bitcoin's recent price increase.