Some comments from US Vice President J.D. Vance have kicked off a rebound in crypto, which is a positive signal for a broader rebound in risk assets on Monday.
- Talked to Trump about China yesterday
- Trump willing to be a reasonable negotiator with China
- Trump hopes US doesn't need to use leverage on China
- We appreciate friendship Trump developed with Xi
This is obviously scripted stuff.
Separately, the USTR's Greer told Fox News that the US reached out for a call with China after China announced export controls but Beijing deferred.
So it sounds to me like the ball is in China's court here, which isn't entirely great. They seem to be awfully upset with some of the measures that the US quietly enacted before they responded.
In any case, the crypto market is taking this as a very good sign and ETH has climbed to $4026 from about $3825 beforehand. That puts it basically back where it was before the late-Friday selloff. To get back to when Trump first started making noise about China at midday on Friday, it would need to get to about $4350.
