Trump Son's Bitcoin Call Amid ETF Outflows: Buy the Dip?
Eric Trump Advocates Buying Bitcoin and Ethereum Dips
Eric Trump, son of former US President Donald Trump, has publicly suggested that investors should take advantage of the recent price declines in Bitcoin and Ethereum. In a recent post on X, the World Liberty Finance (WLFI) Web 3 Ambassador reiterated his call to buy the dip.
This isn't the first time Trump has made such a suggestion. Back in February, he urged investors to capitalize on a Bitcoin pullback. Since then, Bitcoin has risen by 15%, and Ethereum has seen an even more impressive 20% increase.
Let me say it again:
₿uy the dips!!! $BTC $ETH https://t.co/VSOvTgnlOT
— Eric Trump (@EricTrump) August 2, 2025
Trump's recent comments come as both Bitcoin and Ethereum have experienced significant price corrections. Bitcoin fell below $113,000, reaching an intraday low of $112,724. Ethereum, meanwhile, lost nearly 5% of its value and is trading around $3,460.
Trump's optimistic outlook is based on his belief in the long-term potential of Bitcoin and Ethereum. He previously suggested that Ethereum should be valued at $8,000 or more, considering global M2 expansion. Furthermore, American Bitcoin, a company he co-founded with Hut 8, aims to become a major BTC holder.
Mass Selloff Impacts Crypto ETFs
Despite calls from figures like Eric Trump to hold strong, on-chain data indicates a significant selloff. BitMEX co-founder Arthur Hayes, for instance, reportedly dumped $13 million worth of cryptocurrencies, including ETH, ENA, and PEPE.
Bitcoin and Ethereum ETFs have been particularly affected, with combined outflows approaching $1 billion in the last day. Spot Bitcoin ETFs saw outflows of $812 million, while Ethereum ETFs ended a 20-day inflow streak with outflows of $152 million, according to SoSoValue Data.
Factors Behind the Market Correction
Several macroeconomic factors appear to be contributing to the current market downturn. The recently released US job data for July and the ongoing fallout from Trump tariffs are stoking bearish sentiment around Bitcoin and Ethereum.