Bitcoin rises to $88K as Trump’s Xi call fuels optimism across markets

Bitcoin climbed back to $88,000 on Monday after former President Donald Trump posted a positive update about his call with Chinese President Xi Jinping, boosting risk sentiment across markets.

The move followed an early morning dip that briefly sent BTC near $85,000, reversing a weekend rally that had lifted it from Friday’s $80K low to $88K on Sunday.

Equities rallied alongside crypto, with the S&P 500 up 1.5% and the Nasdaq gaining nearly 2% on the day. The broader crypto market rose 2.2%, with most top 100 tokens posting modest single-digit gains.

Trump’s Truth Social post described the call as “very good,” citing progress on multiple issues and reciprocal state visits later this year. He noted, “Our relationship with China is extremely strong,” fueling investor optimism and helping Bitcoin recover its earlier losses.