Morning Minute: Crypto Rips On US China Trade Deal Hopes

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.

GM!

Today’s top news:

• Crypto majors surge 3-5% on trade deal hopes; BTC at $115,500
• Rumble partners with Tether to accept crypto tips for creators
• Pump Fun acquires Padre, announces snapshot for token holders
• MegaETH releases tokenomics + KPIs ahead of today’s public ICO
• 402x and Farcaster’s CLANKER acquisition spark AI weekend rally

📈 Crypto Rips On U.S. China Trade Deal Hopes

It appears the Trump and Xi posturing has subsided and a trade deal is near.

And markets like it.

📌 What Happened

The U.S. and China reportedly reached “substantial progress” toward a new trade framework, with negotiators signaling a potential tariff rollback in phases.

Sources close to the talks said both sides are working toward a target signing window in November.

That was enough to send risk assets flying.

• Bitcoin (BTC) jumped back above $115,000, up ~5% over the weekend
• Ethereum (ETH) reclaimed $4,100
• Solana (SOL) pushed through $200

Overall the total crypto market cap added ~$150B over the weekend.

Not only that, treasuries sold off and gold cooled, signaling a rotation out of safety into risk and growth assets, with crypto outperforming stocks (so far).

🗣️ What They’re Saying

“Markets were pricing in escalation—not de-escalation. Any sign of trade cooling is bullish for risk assets.” – CrossBorder Capital

“Bitcoin continues to behave like high-beta macro exposure—when global liquidity improves, BTC responds.” – QCP Capital Desk Note

“The U.S.–China thaw comes at a moment when crypto liquidity is already improving—this could be the setup for a fourth-quarter squeeze.” – Matrixport Research

🧠 Why It Matters

Any trade deal progress is bullish for risk assets, and crypto falls squarely into that category.

If this trade framework sticks and tariffs roll back in phases, we could see:
✅ Renewed flows into risk assets
✅ Macro funds increase crypto allocation
✅ A powerful setup heading into end-of-year positioning

And if the deal momentum holds, this may be the beginning of Q4 risk-on, not the end of it.

Cue the Santa Claus rally, a bit early.

Now we still have some “4 year cycle” sellers to work through. And it’s hard to think we’re totally out of the woods just yet.

But eventually they will run out of coins to sell.

And the bulls will take back over.

🌎 Macro Crypto and Memes

A few Crypto and Web3 headlines that caught my eye:

• Crypto majors are very green and ripping on US China trade deal news; BTC +2% at $115,300, ETH +3% at $4,140, BNB +2% at $1,150, SOL +2% at $199
• VIRTUAL (+18%), PI (+17%) and ZEC (+13%) led top movers
• Gold fell another 2% to $4,044 as crypto and stocks take poll position in the rally
• Trump will nominate SEC crypto task force counsel Mike Selig to lead the CFTC, per report
• Rumble teamed with Tether to add Bitcoin tipping for creators
• Custodia + Vantage went live with a tokenized deposit network for U.S. banks
• Zelle will use stablecoins for international transactions via parent Early Warning Services
• Canada is accelerating the development of its stablecoin regulatory framework

In Corporate Treasuries / ETFs

• The Bitcoin ETFs saw $90.6M in net inflows on Friday, with ETH seeing $94M in outflows
• Sharplink bought another $78.3M in ETH over the weekend after a one-month drought

In Memes

• Meme coin leaders are green; DOGE +1%, Shiba +1%, PEPE +1%, PENGU +1%, BONK +1%, TRUMP +2%, SPX +1%, and FARTCOIN -2%
• CLANKER soared 400%+ after its acquisition by Farcaster, now at $115 ($115M); Virtual +80% on the week to $1.45B
• Several Solana AI tokens pumped over the weekend including PAYAI (+35%) and AVB (+85%)
• CHILLHOUSE rebounded 25% to $12M

💰 Token, Airdrop & Protocol Tracker

Here’s a rundown of major token, protocol and airdrop news from the day:

• MegaETH shared new details on tokenomics and its novel KPI rewards
• Pump Fun announced an acquisition of trading terminal Padre on Friday, along with a snapshot of its PADRE token holders who will receive a corresponding amount of PUMP
• Hyperliquid launched onchain perps trading for stocks starting with XYZ100 (top 100 US stock index)
• Myriad crossed 30M and teased a new announcement forthcoming

🚚 What is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

• NFT leaders were slightly green over the weekend; Punks +1% at 39 ETH, Pudgy +3% at 7.3, BAYC -2% at 7 ETH; Hypurr’s -1% at 1,230 HYPE
• Infinex Patrons (+10%) were a notable mover
• Reid Hoffman (LinkedIn founder) bought a Hoodie CryptoPunk and made it his PFP on X
• Pudgy Penguins announced a partnership with Dreamworks’ Kung Fu Panda
• The NFT Strategy tokens rebounded after Otherdeeds Strategy (DEEDSTR) launched on Saturday; PNKSTR back to $84M
• A Plush Pepe sold for $230,496