Bitcoin Nears $82K As Russia’s Putin Invites Trump & Xi Jinping For Emergency Meeting
Bitcoin surged to near $82,100 on Sunday, coinciding with traders’ anticipation of geopolitical events in Russia, the United States and China. Russian President Vladimir Putin has reportedly put forward a proposal to meet the U.S. President Donald Trump and Chinese President Xi Jinping at a summit to find a way out of the conflict in Ukraine. The talks are expected to be held in November, but U.S. officials have yet to officially confirm their attendance.
Bitcoin Price Rebounds Toward $82,100
Bitcoin was up 0.98% to $82,099.25 on Sunday, October 18. The TradingView chart indicates a sudden rebound, seemingly in reaction to the BTC price’s earlier sell-off.
The price of BTC first rose above $81,800 and peaked close to $82,150. Sellers then lowered the price and the steep drop began towards $81,000. The pullback resumed in the second half of the session, dropping Bitcoin to a low of just under $80,800.
Buyers then took the initiative and turned the trend around. It appears that there is a trend of increasing from approximately $80,750 with a few straight green candles that are consecutively increasing. Bitcoin price recovered the $81,000 and $81,500 levels before breaking above $82,000.
BTC is racing toward its earlier highs with the latest candles as it heads toward $82,100. The $82,150 area remains a level to watch, while the $80,750 region marks the session’s visible low.
Putin Proposes Talks With Trump and Xi Jingping
The trilateral meeting proposal that pushed Bitcoin upwards was brought up in Putin’s phone call to Trump on October 9, according to reports. The Chinese capital of Shenzhen is next month’s venue for the Asia Pacific Economic Cooperation meeting, and the Russian leader proposed holding the talks there as well.
The discussions would be about the end of the four-year war in Ukraine. However, the proposed framework would leave out Ukrainian President Volodymyr Zelensky and concern Kyiv’s allies, in Washington and Europe.
It’s a step that would be important in diplomacy for resolving the conflict if the three leaders do not include Ukraine.
A senior U.S. official stated that Trump hasn’t formally accepted it. This is for talks with the Kremlin, which are ongoing but no final agreement and specific agenda have been agreed yet, Kremlin spokesman Dmitry Peskov said.
The October 9 meeting was also reportedly focused on U.S. demand for Russian diesel fuel. It also explored ways to assist in the sale of Russian fuel in international markets.
