Eric Trump warned his 5.8 million followers to 'stop betting' on Bitcoin and Ether, as Ether's price surged above $4,000 for the first time in eight months.

The price of Ether broke through $4,000 on Friday, becoming the most significant evaporation of short positions among all cryptocurrency assets that day, with some analysts suggesting that this may set the stage for a short squeeze.

This rebound led to a critique of bearish traders by Eric Trump, the son of U.S. President Donald Trump.

Traders say that $41,000 is now the key level for a 'short squeeze'.

'I'm very pleased to see ETH shorts getting crushed today. Stop shorting BTC and ETH—you're going to get completely wrecked,' Trump wrote in a post on X on Friday.

On Friday, approximately $105 million worth of Ether was liquidated.

According to CoinGlass, due to Ether's first breach of the $4,000 price level since December 2024, short positions have been liquidated, accounting for approximately 53% of the $199.61 million in total cryptocurrency market liquidations.

Nansen reported that the price of Ether briefly climbed to $4,060 that day, rising 4.6% in the past 24 hours, but had fallen back to $4,015 at the time of this article's publication.

Cryptocurrency trader Ash Crypto stated that the real test will be the $4,100 price level, which he refers to as the 'major resistance level'.

Ash Crypto said: 'If ETH breaks above $4,100, it could trigger a short squeeze, pushing ETH up to $4,400-$4,500 in just a few hours.'

Optimism in the cryptocurrency industry regarding Ether is on the rise.

Cryptocurrency trader Ted stated, 'In my view, I've never been this bullish,' pointing to increasing institutional interest in Ether and rising demand for Ether ETFs.

Data from Farside shows that in the past four trading days, inflows into the spot Ether ETF have been approximately $537 million.

Recently, there have been some significant predictions regarding Ether's price. After Ether broke $4,000, cryptocurrency trader Moustache stated: 'I know this sounds crazy, but I think ETH will rise above $10,000.'

Meanwhile, Fundstrat co-founder Tom Lee stated on Thursday that Ether is experiencing a '2017 Bitcoin moment', with prices potentially reaching $16,000.