US Treasury Secretary Scott Bessent announced significant progress in trade negotiations with China, potentially averting the 100% tariffs previously threatened by President Trump. This development has sparked optimism among investors, with crypto markets experiencing a modest rally. Bitcoin rose by 1.8%, Ether by 3.6%, and Solana by 3.7% following the announcement. The trade framework aims to ease tensions between the two nations, with President Trump set to meet China's President Xi Jinping at the APEC summit on October 31. The news has been well-received by the crypto community, which had been rattled by Trump's earlier tariff threats that caused a market downturn. Analysts predict further market gains if the trade deal is finalized and interest rates are cut.