US crypto traders received a dose of optimism this week when Eric Trump stepped into the fray. He urged holders of Bitcoin and Ethereum to see the current value drops as a shopping for probability. Costs took a tumble firstly of August, and his name got here proper when markets had been reeling.
Eric Trump Urges Patrons As Costs Drop
Based mostly on stories, Trump informed followers on X that now could be the time to scoop up cash. He first made an identical name again in February. Since then, Bitcoin jumped by 14% and Ethereum climbed by 18%. He sees the most recent dip as one other probability to seize bargains.
His religion in crypto runs deep. He says international M2 growth means Ethereum must commerce at or above $8,000. He additionally co-founded American Bitcoin with miner Hut 8 and needs it to develop into the largest holder of BTC. That provides him a private stake in costs shifting up.
Let me say it once more:
₿uy the dips!!! $BTC $ETH https://t.co/VSOvTgnlOT
— Eric Trump (@EricTrump) August 2, 2025
Sharp On-Chain Gross sales
On-chain knowledge exhibits that some large names are promoting off. BitMEX co-founder Arthur Hayes moved about $13 million value of ETH, ENA, and PEPE amid the crash. It’s a small slice of the overall market. But it feeds a narrative of doubt spreading by crypto circles.
The swings have been steep. Bitcoin slipped underneath $113,000, hitting an intraday low of $112,820. Ethereum fell by practically 5% and sits round $3,465. Different tokens fell too, with XRP and SOL every down over 5%. Quick-term merchants have felt the pinch.
ETF Outflows Hit Funds
Spot Bitcoin ETFs noticed enormous outflows. Based mostly on stories, they misplaced about $810 million in a single day. Ethereum ETFs snapped a 20-day streak of inflows, bleeding $152 million. In whole, crypto funds shed near $1 billion. That form of withdrawal seems dramatic on paper.
Market watchers say one-day figures can mislead. ETF flows swing out and in on a regular basis. What issues extra is web motion over weeks or months. Nonetheless, seeing practically $1 billion head for the exit door shakes nerves.
Reviews Level To Greater Forces At Play
Analysts are eyeing extra than simply ETF numbers. The most recent US jobs knowledge for July confirmed hiring slowing. On the identical time, recent tariffs from US President Donald Trump on key imports have added to worries about international progress. These two developments have pushed threat belongings decrease.
Lengthy-run holders of Bitcoin view dips as regular. They anticipate costs to bounce again after quick swings. New traders, although, is likely to be nervous once they see large names promoting or funds pulling out.
Featured picture from Pexels, chart from TradingView
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