US crypto buyers obtained 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 likelihood. Costs took a tumble at the beginning of August, and his name got here proper when markets had been reeling.
Eric Trump Urges Consumers As Costs Drop
Based mostly on reviews, Trump advised followers on X that now could be the time to scoop up cash. He first made an analogous name again in February. Since then, Bitcoin jumped by 14% and Ethereum climbed by 18%. He sees the newest dip as one other likelihood 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 desires it to change into the largest holder of BTC. That provides him a private stake in costs transferring 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 price of ETH, ENA, and PEPE amid the crash. It’s a small slice of the entire market. But it feeds a narrative of doubt spreading by means of crypto circles.
The swings have been steep. Bitcoin slipped underneath $113,000, hitting an intraday low of $112,820. Ethereum fell by almost 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 big outflows. Based mostly on reviews, 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 to be 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 almost $1 billion head for the exit door shakes nerves.
Experiences Level To Larger Forces At Play
Analysts are eyeing extra than simply ETF numbers. The newest US jobs knowledge for July confirmed hiring slowing. On the identical time, contemporary tariffs from US President Donald Trump on key imports have added to worries about international progress. These two traits have pushed danger property decrease.
Lengthy-run holders of Bitcoin view dips as regular. They anticipate costs to bounce again after quick swings. New buyers, although, is perhaps nervous once they see large names promoting or funds pulling out.
Featured picture from Pexels, chart from TradingView
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