As the cryptocurrency market continues to evolve, notable figures are making their voices heard amidst fluctuating prices. Eric Trump, the son of former President Donald Trump, took to social media to express his enthusiasm as crypto values surged on the latest trading day.
In a lively post to his nearly 6 million followers on X, Trump highlighted the recent market bounce, particularly celebrating the significant upward swing of Ethereum. He pointed out the struggles of bearish traders, advising against short selling in the current bullish environment.
With Bitcoin soaring past $117,000 and Ether climbing over $4,200, many are now reevaluating their trading strategies.
Market Reaction to New Policies
Market movement has been fueled by policy changes, notably a recent executive action that hinted at making retirement account legislation friendlier towards cryptocurrency investments. This shift is generating discussions about how 401(k) investments could soon reflect a more crypto-inclusive approach, prompting traders to rethink their previous bearish stances.
With this new backdrop, traders who had initially positioned themselves against the rally quickly found themselves facing mounting pressure as prices began to shift.
It’s always a thrill to watch ETH shorts get burned. Those betting against BTC and ETH should reconsider their strategies!
— Eric Trump (@EricTrump) August 8, 2025
Market watchers have also noticed significant buying interest from U.S. spot ETFs and various institutional investors, adding to the bullish momentum for Ether. This heightened demand is causing a restriction in available supply on exchanges, making it increasingly difficult for sellers to maintain downward pressure on prices.
Ether’s recent climb above $4,200 marks its highest point since December 2024. Observers noted that this resurgence catalyzed a wave of position closures, contributing to its rapid ascent.
The Impact on Short Sellers
Recent trading data reveals that approximately $208 million in Ethereum short positions were liquidated within a 24-hour timeframe, accounting for over 56% of almost $370 million lost across the futures market during that same period.
Of the notable losses in Ethereum, around $184 million was attributed to short positions, while about $24 million was linked with long trades. This influx of forced liquidations resulted in an unexpectedly sharp market rebound.
Eric Trump’s comments have added a layer of excitement to the narrative, as he has publicly advocated for accumulating Ether on price dips, reflecting his belief in the asset’s potential.
Traders have observed that the combination of policy shifts, increased ETF interest, and social media dynamics has created a volatile atmosphere ripe for swift price movements.
Market Predictions Diverge
As market participants weigh their next moves, analysts offer varying predictions for Ether’s future. Some foresee a bullish trajectory, suggesting that prices could soar toward $16,000 by year-end if favorable conditions persist.
Conversely, more optimistic projections predict a staggering near sevenfold increase, with some experts suggesting potential highs of $25,000 in extreme scenarios. However, these optimistic forecasts are balanced by cautionary assessments, warning that dramatic reversals could occur just as easily.
With Eric Trump voicing concerns about the risks facing those betting against Bitcoin and Ethereum, the current market climate is charged with a blend of optimism and caution.
Featured image from Pexels, chart from TradingView
