US President Donald Trump recently stated that tariffs planned to be imposed on China starting November 1 will not be enacted.

Bitcoin’s value reacted swiftly, recovering from its recent lows to climb back to $106,000.

Remember last Friday, when President Trump warned of new tariffs on China, a move that significantly impacted cryptocurrency markets. Initially, Bitcoin was hovering above $122,000 but dropped below $117,000 in minutes as billions in overleveraged positions exacerbated the sell-off, leading to prices below $110,000 on many exchanges and down to $101,000 on Binance.

Later, clarification emerged that the situation might have been a miscommunication between the U.S. and China, prompting a de-escalation in tensions.

Just a short time ago, when asked whether the 100% tariffs would proceed, Trump remarked, “No,” adding, “I think we will be fine with China.” The presidents of both nations are expected to convene in the upcoming weeks.

BREAKING: President Trump was just asked if his 100% tariff on China will stand.
His response: “No.”
— The Kobeissi Letter (@KobeissiLetter) October 17, 2025

Bitcoin’s price has seen more volatility, swinging upwards to surpass $106,000 after dipping below $104,000 earlier.

BTC

Source: TradingView

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