Key Points
Eric Trump recently tweeted about Bitcoin (BTC).
His comment sparked discussions, but its influence on the market was minimal.
On February 6, he tweeted that it seemed like a good time to invest in Bitcoin.
This statement briefly increased Bitcoin’s price to over $98,000.
However, it soon returned to around $97,650, showing only a slight 0.4% hourly increase at the time.
This response contrasts with the market reaction to Eric Trump’s earlier tweet about Ethereum (ETH).
On February 1, Ethereum was struggling due to a market-wide sell-off triggered by President Trump’s tariff announcement.
By February 3, Ethereum’s value had plummeted 37% from its recent peak on January 31, one of its most significant drops in recent history.
Market Reaction to Eric Trump’s Tweet
Then, on February 4, Eric Trump tweeted that it was a good time to invest in Ethereum.
Within 18 hours, Ethereum’s price had significantly recovered, soaring from around $2,300 to over $2,900.
As of February 6, Ethereum’s price has stabilized, trading around $2,830.
While it’s not certain that the price changes were directly caused by his tweet, the timing has led traders to take note of his market predictions.
Bitcoin, which has been performing well recently, is in a different market situation compared to Ethereum when Eric Trump made his comments.
His Ethereum tweet was posted when the market was at its lowest and oversold, while Bitcoin has been trading near record highs, leaving less potential for a sudden recovery.
Traders hoping for a repeat of the Ethereum scenario may need to wait to see if this Bitcoin tweet has the same impact.