The price action of Bitcoin and Ethereum in the past 24 hours was an opportunity for Eric Trump to reinforce the growing bullish sentiment surrounding the two largest cryptocurrencies. Notably, this is something the Trump family has been actively involved in throughout this cycle.
His comment came amid Ethereum’s powerful rally that saw over $212 million in short positions wiped out among traders caught on the wrong side of the move, according to liquidation data from Coinglass. Bitcoin’s breakout above resistance at $120,000 added further pressure to bears, and it showed that the momentum is now in the hands of the bulls.
By highlighting these moves with Bitcoin and Ethereum, Eric Trump not only celebrated the downfall of short sellers but also warned that the upward trend still had plenty of momentum left to play out.
At the time of writing, Bitcoin is trading at $121,670, while Ethereum is trading at $4,280.
