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08/10 12:02

Eric Trump Says You'll Get Run Over If You Bet Aga

Eric Trump Says You'll Get Run Over If You Bet Against Bitcoin and Ethereum

Eric Trump has reiterated his bullish outlook on the price of Bitcoin and Ethereum, warning that bears will suffer big losses if they continue to bet against them.

The cryptocurrency-loving son of US President Donald Trump told his 5.8 million followers on social media platform X that Bitcoin and Ethereum — the two largest cryptocurrencies by market cap — are like a moving train. As a result, betting against them could result in it getting run over.

He shared his bullish sentiment on Friday as the cryptocurrency market rebounded from recent turmoil, with Bitcoin rising above $117,000 and Ethereum rebounding from $4,100, helped in part by recent executive orders signed by Trump.

 Eric Trump is happy to see Ethereum bears recover

In particular, he admitted that seeing Ethereum shorts “smoking” makes him “smile.” Notably, Eric has long been a bull on Ethereum, often urging crypto enthusiasts to buy it on every dip while they can.

The recent rally in Ethereum has triggered a mass liquidation of bearish positions, and Eric Trump has teased those who have suffered from these losses. According to him, betting against Ethereum is like waiting for it to be run over.

Meanwhile, this is happening as Ethereum has risen above $4,100 for the first time since December 2024. It has finally broken through the $4,000 resistance, as analyst Benjamin Cowen predicted last month, significantly wiping out the bears.

 In comparison, $208 million worth of Ether positions were liquidated in the last 24 hours, accounting for over 56% of the total loss of $369.7 million in the futures market. Of this, $183.6 million was short, while only $24.4 million was long.

Cryptocurrency Liquidity Map | Coinglass

Possible Catalysts and Future Ethereum Price Prediction

Notably, Ethereum’s resurgence has come amid growing institutional investor interest in the asset. The emergence of Ethereum treasury bond companies that have been steadily acquiring the asset and the influx of funds from US-based Ethereum ETFs have been the main catalysts.

Furthermore, new information that Ethereum will benefit from the recently passed US stablecoin law has also strengthened its popularity among institutional investors.  Tom Lee, CIO of Fundstrat and Chairman of Bitmine, echoes this sentiment, recently noting that Ethereum is having its 2017.

With the breakout of key resistance, market optimism for price growth has increased significantly. Lee previously predicted a rise to $16,000 by the end of this year, while analyst Carl Moon was betting on a nearly 7x rise to $25,000.

#Whose “child” is ES — Solana or Ethereum?#HTX Crypto Gifts Carnival Is Live!#ETH price breaks through $4,600, buy or sell?#Do you think TREE is promising? #Do you think Tanssi is promising?

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