Eric Trump has stirred the crypto world again. Following his recent tweet about Ethereum, which coincided with a significant price rebound, he is now turning his attention to Bitcoin. On February 6, he tweeted, “Feels like a great time to enter BTC!” This statement caused a brief surge in Bitcoin prices, pushing them past $98,000 before they settled back to around $97,650, reflecting a modest gain of 0.4%.
The timing of Eric Trump’s remarks is crucial. Just days earlier, Ethereum faced a steep decline. On February 1, the cryptocurrency market was rattled by former President Donald Trump’s tariff announcement, leading to a broad sell-off. By February 3, Ethereum had plummeted 37% from its recent high, marking one of its sharpest declines in months. However, within 18 hours of hitting its lowest point, Ethereum made a stunning recovery, soaring over 35% from about $2,300 to over $2,900 in less than a day. As of February 6, Ethereum has stabilized, trading around $2,830.
Despite the recent volatility, Eric Trump’s commentary on Bitcoin has sparked discussions among traders. While his previous Ethereum tweet aligned with a market bottom, Bitcoin is currently in a different position. It has been riding a strong rally and is trading near its all-time highs. This leaves less room for a drastic price shift compared to Ethereum’s recent swings.
Traders are now watching closely. The rapid price changes that followed Trump’s last tweet have made some more attentive to his market predictions. However, history does not always repeat itself. The current market conditions for Bitcoin differ significantly from those of Ethereum when Trump made his prior call.
As traders weigh the potential impact of Eric Trump’s latest statements, they face a waiting game. Will this tweet trigger a similar reaction in Bitcoin as it did with Ethereum? Only time will tell. For now, Bitcoin remains a hot topic, though its immediate market impact from Trump’s endorsement seems limited. As the crypto landscape evolves, all eyes will be on how these calls influence trading strategies going forward.
