Eric Trump, the son of US President Donald Trump, taunted bearish merchants on X as crypto costs jumped on Friday.
He advised his almost 6 million followers that seeing Ethereum shorts “get smoked” put a smile on his face and warned that anybody shorting Bitcoin or Ethereum “will likely be run over.”
At the identical time, Bitcoin pushed previous $117,000 and Ether climbed again above $4,200.
Policy Move Sparks A Fresh Rally
According to market reviews, a latest govt motion signed by President Trump helped spark the transfer. The order was tied to retirement account guidelines and stirred discuss that 401(ok) flows might turn out to be extra crypto pleasant, which pushed funds and merchants to rethink bearish bets.
Price swings adopted rapidly, and merchants who had guess in opposition to the rally discovered themselves beneath stress.
It places a smile on my face to see ETH shorts get smoked at present. Stop betting in opposition to BTC and ETH – you may be run over.
— Eric Trump (@EricTrump) August 8, 2025
Reports have pointed to heavy shopping for from US spot ETFs and a handful of treasury consumers which are grabbing up Ether. That clearing of provide on exchanges is making it tougher for sellers to maintain the worth down.
Ether’s bounce above $4,200 was the primary time it hit that stage since December 2024, and market gamers mentioned it helped spark a wave of quick protecting that amplified the positive aspects.
Shorts Took The Brunt
Based on trading-data summaries, about $208 million of Ethereum positions had been liquidated in a 24-hour window, which made up over 56% of almost $370 million wiped from the futures market throughout that span.
Of the Ether losses, round $184 million got here from quick positions and $24 million from longs. That flood of pressured exits pushed the rebound to be sharper than many anticipated.
Eric Trump’s put up added gas to the social facet of the transfer. He’s been vocal about shopping for each Ether dip, and his message was one in every of glee as bears had been squeezed.
Traders watching the tape mentioned the combination of coverage headlines, ETF inflows, and social media warmth created the right setup for fast, risky strikes.
Analysts Offer Wildly Different Paths
Analysts are cut up on how excessive Ether might go if the momentum holds. Some put a bullish situation that reaches towards $16,000 by year-end beneath favorable circumstances.
Other market voices have sketched much more aggressive paths, with one analyst suggesting a close to sevenfold rise towards $25,000 in an excessive case.
Those calls sit beside extra cautious takes that warn the trip might reverse simply as quick.
Eric Trump believes these betting in opposition to Bitcoin and Ethereum might face heavy losses, including social warmth to a rally pushed by coverage strikes and ETF inflows.
Featured picture from Pexels, chart from TradingView
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