Bitcoin Price Prediction: Trump-Xi Meeting Could Send BTC to $113K Resistance

Highlights:

• Bitcoin is trending towards the $113,474 resistance
• Rally through this resistance could trigger a test of $120k
• Confirmation of the Trump-Xi meeting could trigger such price action 

Bitcoin (BTC) is in the green today, after days of sideways trading. At the time of going to press, Bitcoin was trading at $111,229.65, up by 1.65%. Bitcoin trading volumes are also on the rise. However, even with the intraday gains, trading volumes have dropped. At the time of writing, Bitcoin trading volumes had fallen by 30.27% to stand at $51.22 billion. This is an indicator that the average holder is not selling even after the intraday gains. 

It means they expect the price to keep going higher in the short to medium term. Now that the price is going up and the broader market is turning green, new money could start flowing into Bitcoin. This can help Bitcoin sustain the momentum it has built up intraday. There are several solid reasons why Bitcoin could be headed higher in the short term.

Confirmation of Trump-Xi Meeting Pushes BTC Higher

One of them is the increase in optimism around the US-China trade relations. Earlier in the month, US President Donald Trump had stated that China was turning hostile in its trade with the US. For this reason, he noted that the much-awaited trade talk between him and the Chinese President would likely be canceled.

The announcement, which was made via social media, saw markets crash, and billions wiped out of Bitcoin and other cryptocurrencies. Now optimism is back after confirmation that, indeed, there will be a face-to-face meeting between the two Presidents. This has also raised hopes that some headway could be made. The confirmation of the meeting has triggered an increase in bullish sentiment across the markets, including Bitcoin.

A positive outcome from the meeting could trigger a rush to risk-on assets going into the foreseeable future. It is a factor that could see Bitcoin rally to new highs. 

BREAKING Karoline Leavitt stuns the World by announcing Trump’s meeting with China’s leader Xi Jinping next Thursday

America is officially back

HOLD THE LINE pic.twitter.com/9LZmiSpky4

— MAGA Voice (@MAGAVoice) October 23, 2025

Improving Regulatory Environment Favors Bitcoin Rally

Besides hopes of some progress in US-China trade talks, BTC could benefit from an improving regulatory environment. Japanese regulators are reportedly working on allowing banks to hold Bitcoin in their balance sheets. In the US, which so far is doing well in terms of pro-crypto regulations, there is more coming.

According to David Sacks, the White House cryptocurrency and AI lead, the country is in a good position to pass cryptocurrency structure legislation by the end of the year. The result of such legislation and regulations is that there would be comprehensive regulations around cryptocurrencies in the US.

JUST IN: WHITE HOUSE CRYPTO CZAR JUST SAID THE CRYPTO MARKET STRUCTURE BILL IS IN A "EXCELLENT POSITION" TO PASS THIS YEAR

BULLISH FOR #BITCOIN pic.twitter.com/Z8Sj2qhAd2

— Henry Theodore (@Henrydore01) October 24, 2025

The result is that BTC could attract even more capital from the US and around the world. Such sentiments, coming at a time when there is hope for an end to the trade war, could trigger an upsurge of capital coming into Bitcoin and other risk-on assets. Similar positive moves are coming out of Europe.

In the EU, BlackRock has new products that make it easier for both retail and institutional money to buy Bitcoin. Such moves explain why bulls appear to be regaining the dominant hand in Bitcoin’s intraday price action. 

Technical Analysis – BTC Price Slowly Pushing Critical Resistance

After its recent rebound off the $107,320, Bitcoin has been grinding upwards, albeit with slow momentum. If bulls sustain this momentum, then the $113,474 resistance remains a significant target. Positive news around US-China trade relations could drive such momentum.

On the other hand, if bears regain control and push BTC lower, a retest of the $107,320 support could be possible in the short term. Of these two scenarios, the odds are higher for a rally to $113,474 resistance in the short term.