US crypto buyers obtained a dose of optimism this week when Eric Trump stepped into the fray. He urged holders of Bitcoin and Ethereum to see the latest worth drops as a shopping for probability. Prices took a tumble at first of August, and his name got here proper when markets have been reeling.
Eric Trump Urges Buyers As Prices Drop
Based on studies, Trump advised followers on X that now’s the time to scoop up cash. He first made an identical name again in February. Since then, Bitcoin jumped by 14% and Ethereum climbed by 18%. He sees the most recent dip as one other probability to seize bargains.
His religion in crypto runs deep. He says world M2 enlargement means Ethereum should commerce at or above $8,000. He additionally co-founded American Bitcoin with miner Hut 8 and needs it to grow to be the most important holder of BTC. That offers him a private stake in costs shifting up.
Let me say it once more:
₿uy the dips!!! $BTC $ETH https://t.co/VSOvTgnlOT
— Eric Trump (@EricTrump) August 2, 2025
Sharp On-Chain Sales
On-chain information exhibits that some huge names are promoting off. BitMEX co-founder Arthur Hayes moved about $13 million price of ETH, ENA, and PEPE amid the crash. It is a small slice of the entire market. Yet it feeds a narrative of doubt spreading by crypto circles.
The swings have been steep. Bitcoin slipped beneath $113,000, hitting an intraday low of $112,820. Ethereum fell by almost 5% and sits round $3,465. Other tokens fell too, with XRP and SOL every down over 5%. Short-term merchants have felt the pinch.
ETF Outflows Hit Funds
Spot Bitcoin ETFs noticed large outflows. Based on studies, they misplaced about $810 million in a single day. Ethereum ETFs snapped a 20-day streak of inflows, bleeding $152 million. In whole, crypto funds shed near $1 billion. That sort of withdrawal seems dramatic on paper.
Market watchers say one-day figures can mislead. ETF flows swing out and in on a regular basis. What issues extra is internet motion over weeks or months. Still, seeing almost $1 billion head for the exit door shakes nerves.
Reports Point To Bigger Forces At Play
Analysts are eyeing extra than simply ETF numbers. The newest US jobs information for July confirmed hiring slowing. At the identical time, recent tariffs from US President Donald Trump on key imports have added to worries about world development. Those two tendencies have pushed danger belongings decrease.
Long-run holders of Bitcoin view dips as regular. They anticipate costs to bounce again after quick swings. New buyers, although, is perhaps nervous after they see huge names promoting or funds pulling out.
Featured picture from Pexels, chart from TradingView
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