Eric Trump Warns Short Sellers- ‘Stop Betting Against BTC And ETH’

Eric Trump has warned traders against shorting Bitcoin and Ethereum. His remarks came as the Ethereum price edges closer to its all-time high, fuelled by a wave of corporate treasury acquisitions and high-profile endorsements.

Eric Trump Has A Warning for Bears

Eric Trump took to X to celebrate a sharp rally in the Ethereum price today. He declared it “a smile-inducing moment” to see short sellers squeezed out of their positions.

Notably, according to Lookonchain data,  one high-profile trader suffered over $15 million in losses as the Ethereum price surged past $4,200, triggering the full liquidation of his holdings. CoinGlass figures showed that more than $120 million in short positions were wiped out in just 24 hours.

This Ethereum surge came after corporate treasuries accumulated the token in large quantities. As previously reported by CoinGape, public companies hold over $11.7 billion worth of ETH. BitMine Immersion Technologies leads the pack with 833,000 ETH valued at around $3.2 billion, aiming to control 5% of all circulating supply.

This is not the first time Eric has shared his bullish outlook, and he is quite vocal about his crypto predictions, especially Ethereum. During the recent crypto market crash, he advised his followers to buy the dip, particularly Ethereum.

Institutional Demand Skyrockets for Ethereum

According to CoinMarketCap data, Ethereum has surged by 8% in the past 24 hours, outperforming Bitcoin’s 1.19% gain. The move extends a 49% monthly rally fueled by changing supply dynamics.

Notably, spot Ethereum ETFs in the U.S. recorded $864 million in inflows on August 9, the most significant single-day spike since July. BlackRock’s ETHA ETF alone attracted nearly $189 million.

Following closely is SharpLink Gaming with holdings worth $2 billion, while the Ether Machine maintains 345,000 ETH. Nasdaq-listed Cosmos Health also recently announced a $300 million financing deal to initiate an Ethereum treasury strategy, a move that Standard Chartered’s Geoffrey Kendrick describes as offering “regulatory arbitrage” advantages for investors.

Large-scale investors, or “mega whales,” added 2.1 million ETH to their wallets in July. With 28% of all ETH staked and ETFs locking up even more, available market supply is shrinking.

From a chartist’s perspective, Ethereum’s breakout from a multi-month symmetrical triangle pattern is a bullish signal. Crypto analyst MMCrypto noted that a weekly close above key resistance could trigger a “monumental vertical move,” potentially lowering Bitcoin dominance in the short term.