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crypto.news 2025-02-06 05:38:24

Eric Trump says it’s a ‘Great Time’ to buy Bitcoin after his ETH call sent prices soaring

Eric Trump’s Ethereum tweet lined up with one of the biggest reversals in months. Now, he’s turning to Bitcoin—does this call mean anything? Eric Trump’s latest comment on Bitcoin ( BTC ) has sparked chatter, though its immediate market impact appears to be limited. On Feb. 6, he took to X, posting, “Feels like a great time to enter #BTC!” The remark briefly pushed Bitcoin past $98,000 before settling back to around $97,650, reflecting only a modest 0.4% hourly gain at the time of writing. https://twitter.com/EricTrump/status/1887315608381108271 The reaction stands in contrast to what happened just days earlier when Eric Trump’s tweet on Ethereum ( ETH ) coincided with a dramatic market turnaround. On Feb. 1, Ethereum was already struggling after President Donald Trump’s tariff announcement triggered a market-wide sell-off. By Feb. 3, Ethereum had cratered, plunging 37 percent from its recent high on Jan. 31, marking one of its sharpest drops in recent history. Read more: Ethereum’s rebound looks strong, but can it hold? The 2025 outlook Then came Eric Trump’s Feb. 4 post: “It’s a great time to add ETH.” In my opinion, it’s a great time to add $ETH . — Eric Trump (@EricTrump) February 3, 2025 Within 18 hours of hitting its lowest point, Ethereum had rebounded over 35%, rocketing from around $2,300 to over $2,900 in under a day. Ethereum has since stabilized, trading around $2,830 as of Feb. 6. While correlation does not imply causation, the rapid price swings following his previous tweet have led some traders to pay closer attention to his market calls. Bitcoin, which has seen a strong rally in recent months, remains in an entirely different market structure than Ethereum at the time of Eric Trump’s comments. While his Ethereum tweet coincided with a market bottom and extreme oversold conditions, Bitcoin has been trading near record highs, leaving less room for a sudden turnaround. Traders looking for history to repeat itself may have to wait a little longer to see if this tweet carries the same kind of weight. Read more: Altcoins are starving as Bitcoin dominance nears multi-year highs — Can altseason still happen?