US President Promises Deal With China on Everything As ‘Trump Insider’ Begins To Close Bitcoin Shorts- Is A BTC Recovery Ahead?

The “Trump insider whale” has begun closing its Bitcoin short positions just as the U.S. President signals optimism about an economic agreement with China. The crypto market has also rebounded, with most tokens now in the green.

Trump Insider Whale Closes Major Bitcoin Short Positions

According to Arkham Intelligence, the whale known for correctly shorting the market ahead of the Trump tariff crash has begun reducing exposure. The trader recently closed $86.6 million in Bitcoin shorts, securing a $2.38 million profit. 

The whale still holds an additional $140 million in open positions, currently in profit by about $4.3 million.

This entity previously made nearly $200 million during the last major market correction linked to the Trump tariff tensions between the two countries. The timing of the whale’s move coincides with the U.S. President’s public comments suggesting a major breakthrough could be on the horizon in U.S.-China relations. 

The US president had previously confirmed that he would meet with President Xi Jinping on October 31 during the APEC summit.

“I’ll be meeting with President Xi,” Trump said. “We can work out a lot of our questions and our doubts, and our tremendous assets together. So we look forward to that.”

However, the president’s unpredictable stance has left traders cautious. Just days earlier, Trump hinted that the meeting might not happen, though he reiterated his intention to strike what he called “a very good deal with China.”

Trump Tariff Tensions and Policy Shifts

The developments come as the trade war continues to cast a shadow over both global and digital asset markets. Reports from Reuters suggest that Washington is considering additional restrictions on software exports to China.

The action comes after Beijing decided to restrict rare earth mineral exports, which sparked concerns about supply chain disruption. In response, the US president has floated the possibility of 100% tariffs on select Chinese goods starting November 1, unless a deal is reached.

Furthermore, Trump met with Australia to reduce reliance on China through new partnerships. The two leaders signed a $1 billion minerals agreement. This signals Washington’s broader strategy of diversifying critical resource supply lines.

Although the U.S. President projected confidence, saying, “I have a good relationship with President Xi, and I expect to make a good deal with him.” His list of negotiation priorities includes rare earths, fentanyl control, and agricultural exports like soybeans.

During the recent Trump tariff threats, the Bitcoin price briefly plunged to $104,000.  Since then, sentiment has stabilized due to optimism surrounding the impending Trump-Xi meeting.  As the market recovers, the token is currently trading between $109,000 and $110,000.