Ethereum’s powerful rebound is rattling bearish traders, and Eric Trump is making sure they know it.
Trump hinted that those shorting Bitcoin or Ethereum could be walking straight into a trap — one that’s already cost some traders millions.
His remarks came as institutional buying and corporate treasury accumulation sent Ethereum surging past $4,200. The rally has been punishing for leveraged bears; blockchain data from Lookonchain flagged one high-profile trader who saw over $15 million erased in liquidations. CoinGlass estimates show that within just 24 hours, more than $120 million worth of ETH shorts vanished.
Fueling the move is a growing list of public companies embracing Ethereum as a strategic asset. Collectively, corporate ETH holdings have swelled past $11.7 billion. BitMine Immersion Technologies leads the pack with a staggering 833,000 ETH – roughly $3.2 billion – and has set its sights on owning 5% of the token’s circulating supply.
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Trump has been openly bullish on Ethereum before, encouraging accumulation during recent corrections. That stance appears to be paying off, with ETH posting an 8% gain in the past day compared to Bitcoin’s 1.19%, extending a monthly climb of nearly 50%. U.S. spot ETH ETFs have also seen record demand, pulling in $864 million on August 9 – their strongest single-day haul since July. BlackRock’s ETHA ETF alone attracted $189 million.
Kosta Gushterov
Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.
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