On February 6, Bitcoin unexpectedly surpassed $98,000 after Eric Trump's positive comment on cryptocurrency. This move attracted attention from investors and spiked market interest.
Market Reaction to Eric Trump's Tweet
At 1:41 UTC, Eric Trump tweeted, 'Feels like a great time to enter #BTC!' This comment caused BTC’s price to leap from $96,900 to $97,830, with futures briefly surpassing $98,000, according to TradingView. The price soon returned to its previous level of around $97,650, marking a modest hourly increase of 0.4%.
Growing Interest in Bitcoin
David Sacks, AI and crypto advisor in the Trump administration, recently tweeted about exploring a strategic Bitcoin reserve. This rekindled hopes among some investors, but many brokers and hedge funds were disillusioned by the lack of a timely response.
Eric Trump's Role in the Crypto Market
Previously, Eric Trump made headlines in the crypto market. Earlier this month, his suggestion to add ETH led to over a 35% rise in Ethereum within 18 hours. This highlights Trump's influence on cryptocurrency market movements.
Eric Trump's activity on Twitter has a significant impact on the volatility of the cryptocurrency market. His comments lead to considerable market activity and pricing fluctuations.
