Bitcoin Surges Above $98,000 Following Eric Trump’s Endorsement
In a notable development during Thursday’s Asian trading hours, Bitcoin (BTC) experienced a significant rise, crossing the $98,000 threshold. This surge was catalyzed by a tweet from Eric Trump, the son of former U.S. President Donald Trump, who urged his followers to consider investing in Bitcoin. He remarked on X, “It feels like a great time to enter BTC,” at 1:41 UTC. Following this endorsement, the price of Bitcoin escalated from approximately $96,900 to around $97,830.
Market data from TradingView indicated that the micro CME futures also reached an impressive peak, surpassing the $98,000 mark. This bullish sentiment comes on the heels of comments made earlier this week by David Sacks, who serves as the Trump administration’s advisor on AI and cryptocurrency. He mentioned that the administration is currently assessing the viability of establishing a strategic Bitcoin reserve, which left many crypto enthusiasts feeling disheartened, as they were hoping for quicker action on this front.
Eric Trump’s supportive post on X has added fuel to the ongoing discussions surrounding Bitcoin and its potential future within the broader financial landscape.
