Crypto markets added billions of dollars after US President Donald Trump confirmed he will meet Chinese President Xi Jinping at the APEC summit at the end of October, sparking a broad risk-on move that lifted bitcoin and other major tokens from last week’s lows. The move followed a violent, leverage-driven sell-off that briefly pushed sentiment into “extreme fear.” Market strategists cautioned that the rally is fragile.

“We’ll be meeting in a couple of weeks in South Korea with President Xi and a few other people too,” Trump told a Fox News chat with Maria Bartiromo.

Traders quickly pushed bitcoin higher: major market snapshots and exchange data put BTC back in roughly the low-to-mid six-figures range as investors digested…