Eric Trump Flashes ‘Buy The Dip’ Sign As Bitcoin And Ethereum Price Crash

Eric Trump is making a case for investors to accumulate Bitcoin and Ethereum as prices take a major hit at the start of August. Despite his call, on-chain data has revealed incidents of mass asset sales with ETFs bearing the brunt.

Eric Trump Wants Traders To Buy Bitcoin And Ethereum Dips

Eric Trump, son of US President Donald Trump, has urged Bitcoin and Ethereum investors to scoop up assets at lower prices. The World Liberty Finance (WLFI) Web 3 Ambassador made the call in an X post, reiterating his earlier stance on buying cryptocurrency dips.

Back in February, Trump encouraged investors to capitalize on Bitcoin’s pullback to accumulate the asset. Since his comments in February, Bitcoin rose by 15% while Ethereum has climbed by an impressive 20%.

Eric Trump’s latest comments come on the heels of jarring price corrections for the two largest cryptocurrencies over the last day. Bitcoin, the premier cryptocurrency, has fallen below the $113,000 mark, reaching an intraday low of $112,724.

On the other hand, the Ethereum price lost nearly 5% of its value and is trading at $3,460 at press time. Meanwhile, the rest of the cryptocurrency markets have racked similar losses with XRP and SOL losing over 5% of their market capitalizations.

Trump’s call for investors to buy the dip stems from a strong conviction in the future price performance of Bitcoin and Ethereum. At the tail end of July, Eric Trump disclosed that given the global M2 expansion, the ETH price should be $8,000 or more. Furthermore, the WLFI ambassador has disclosed plans for American Bitcoin, a company he co-founded with Hut 8, to become the largest BTC holder.

Mass Selloff Buckles Crypto ETFs

While cryptocurrency enthusiasts like Eric Trump are urging investors to show diamond hands, on-chain data indicates a mass offloading of coins. Amid the broad market crash, BitMEX co-founder Arthur Hayes has dumped $13M worth of cryptocurrencies, including ETH, ENA, and PEPE.

The hardest hit from the selloffs are Bitcoin and Ethereum ETFs, with combined outflows nearing $1 billion over the last day. According to SoSoValue Data, spot Bitcoin ETFs lost a staggering $812 million while Ethereum ETFs ended their 20-day streak of steady inflows with outflows of $152 million.

As traders try to wrap their heads around the crypto market crash, several macroeconomic factors are at the center of the correction. The recently released July US job data and the fallout of Trump tariffs continue to stoke bearish sentiments for Bitcoin and Ethereum prices.