Eric Trump has recapped his bullish price outlook for Bitcoin and Ethereum, warning that bears will face severe losses if they persist in betting against them.
The pro-crypto son of the US President Donald Trump suggested to his 5.8 million X followers that Bitcoin and Ethereum—the two largest cryptocurrencies by market cap—are similar to a moving train. As a result, betting against them would get one run over.
He shared this bullish sentiment on Friday as the broader cryptocurrency market rebounded from the recent scare. Specifically, Bitcoin rallied past $117,000, and Ethereum reclaimed $4,100, fueled partly by recent executive orders signed by Trump.
Eric Trump Takes Delight as Ethereum Bears Rekt
Specifically, he revealed that seeing Ethereum shorts getting smoked “puts a smile” on his face. Notably, Eric has been a longstanding Ether bull, often urging crypto enthusiasts to buy every Ethereum dip while they can.
With the recent Ethereum price resurgence sparking massive bear position liquidation, Eric Trump taunted those who were at the receiving end of this loss. According to him, betting against Ether is like waiting to be run over.
Meanwhile, this comes as Ethereum rallied past $4,100 for the first time since December 2024. It finally breached the $4,000 resistance as analyst Benjamin Cowen predicted last month, liquidating bears in no small way.
For context, Ethereum positions worth $208 million faced liquidation in the past 24 hours, accounting for over 56% of the total $369.7 million lost in the futures market. Of the number, $183.6 million were short positions, with just $24.4 million in longs affected.
Possible Catalysts and Future Ethereum Price Outlook
Interestingly, this Ethereum resurgence has come as institutional interest in Ethereum increases. The emergence of Ether treasury companies, which have incessantly acquired the asset, and inflows from the US Ethereum ETFs have been major catalysts.
Furthermore, the new narrative that Ethereum would benefit from the stablecoin legislation recently signed into law in the US has also solidified its traction with institutions. Tom Lee, the CIO of Fundstrat and Bitmine chairman, has been fronting this sentiment, recently noting that Ethereum is having its 2017 moment now.
With the surge above the crucial resistance, optimism of higher prices among market users has received a substantial boost. Lee earlier predicted a rally to $16,000 by the end of this year, with analyst Carl Moon betting on a near 7x rally to $25,000.
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