Eric Trump Warns Traders: Don't Bet Against Bitcoin And Ethereum

Eric Trump, the son of U.S. President Donald Trump, recently issued a strong warning to the cryptocurrency investor community, especially to those placing "short" orders against Bitcoin (BTC) and Ethereum (ETH). This message comes right after the market witnessed a large liquidation, with about 105 million USD in short ETH orders being "blown away" in a short period. This figure accounts for 53% of the total 199.61 million USD in short orders wiped out across the crypto market. ETH surpasses the 4,000 USD mark after 8 months The event takes place in the context of Ethereum just surpassing the 4,000 USD threshold – the highest price in the past 8 months. The breakout has led many analysts to conclude that this could be a signal for a strong "short squeeze", as the price continues to rise, forcing short sellers to buy back to cut losses, thereby pushing the price even higher. Eric Trump, sharing on the X platform (old Twitter) with 5.8 million followers, wrote: "I feel quite pleased that the shorts on ETH were 'blown away' today. Don't bet against BTC and ETH – you'll get swept away." Predicted next ETH price: from 4,100 USD to 16,000 USD Crypto trader Ash Crypto believes that the 4,100 USD mark will be an important "test." If surpassed, ETH could quickly spike to 4,400–4,500 USD in just a few hours. Additionally, data from Farside indicates that spot ETH ETF funds have recorded $537 million in inflows in just the last 4 trading sessions, reflecting strong interest from institutional investors. Trader Moustache even predicts that ETH could reach $10,000. The co-founder of Fundstrat – Tom Lee – is even more optimistic, comparing that ETH is having its "Bitcoin 2017 moment" and could completely reach 16,000 USD in the future. Is the altcoin about to explode? Michael van de Poppe, co-founder of MN Trading Capital, stated that the rise of ETH is the first step towards a strong growth phase for altcoins, with a profit potential of 200–500% in the next 2–4 months. Currently, the relative strength of ETH against BTC has increased by 38.53% in the past 30 days. However, not everyone believes that the upward trend will last. Some traders warn that August and September are historically weak periods for Ethereum, with an average Q3 profit of only about 6.48% from 2016 to now. Crypto trader Muneeb even suggests that "this rally has temporarily ended." Conclusion Despite concerns about sustainability, the ETH market is currently showing great excitement, supported by institutional cash flow and optimistic sentiment from the community. If it breaks through important resistance levels, Ethereum could open up a new bullish cycle, leading to a boom in the entire altcoin market.