Eric Trump Stands for Crypto Bulls, ETH Shorts Suffer 'Bloodbath'
On August 9, the price of Ethereum (ETH) broke through $4000 and is currently standing above $4100, reaching an eight-month high, resulting in heavy losses for short sellers.
According to CoinGlass data, in the past 24 hours, the amount of Ethereum short positions liquidated reached $207 million, accounting for 56% of the total liquidation amount in the crypto market.
Notably, Eric Trump warned his nearly 5.87 million followers on his X platform this morning to 'stop shorting' Bitcoin and Ethereum, stating, 'The ETH shorts are being bloodied, which makes me very happy. Stop shorting BTC and ETH, or you will be crushed.' This statement has sparked widespread attention in the market.
On the X platform, he issued a warning to his nearly 5.87 million followers, urging them to 'stop shorting' Bitcoin and Ethereum. He bluntly stated, 'The ETH shorts being bloodied makes me very happy. Stop shorting BTC and ETH, or you will be crushed.' This statement quickly attracted widespread attention from the market.
Crypto trader Ash Crypto stated that $4100 is a key resistance level for ETH, and if broken, it may trigger a short squeeze that could push the ETH price to soar to $4400-$4500 within hours.
Another trader, Ted, pointed out that bullish sentiment for ETH has reached unprecedented heights, mainly due to increased institutional interest in ETH and rising demand for ETH ETFs.
Additionally, crypto trader Moustache predicts that the ETH price could exceed $10,000, while Fundstrat co-founder Tom Lee believes that ETH is experiencing the 'glorious moment of Bitcoin in 2017,' with its price potentially soaring to $16,000 during this period.
Moreover, according to Sosovalue data, in just the past four trading days, the inflow of funds into the ETH spot ETF has reached nearly $800 million, indicating that market interest and confidence in Ethereum (ETH) are rapidly warming up.
In summary, as the ETH price breaks through $4000, market predictions for its future price are becoming bolder.
However, historical market trends have repeatedly proven that the crypto market is inherently unpredictable, and any seemingly one-sided trend can reverse overnight.
Therefore, in this smoke-free digital asset war, investors must maintain awe to remain undefeated amidst the storm.
