Ethereum rise strongly as Eric Trump reports not to short sell

The surge of Ethereum to an all-time high is bringing a new wave of bullish energy to the market, and Eric Trump is making sure traders are aware of it. He is telling anyone who is shorting Bitcoin or Ethereum that they may be falling into a trap — and the last 24 hours have given him plenty of evidence. On X, Trump did not hide his satisfaction when witnessing the short sellers being squeezed. Not only the small players — on-chain detectives at Lookonchain discovered a large trader losing over 15 million dollars when ETH surpassed the 4,200 dollar mark, liquidating his entire position. According to CoinGlass, over 120 million dollars worth of ETH short orders were wiped out in just one day. Enterprise Vault and Organizational FOMO A large part of this bullish trend comes from public companies rushing to buy Ethereum. The total value of ETH held by these companies has now reached over 11.7 billion dollars. BitMine Immersion Technologies alone holds 833,000 ETH — about 3.2 billion dollars — with the goal of controlling 5% of the circulating supply. This is not the first time Eric Trump has taken an optimistic stance. Even during downturns, he has advised traders to buy ETH, and currently, that advice seems quite accurate. Over the past month, Ethereum has increased by 49%, including an 8% rise just yesterday, easily surpassing Bitcoin's 1.19% increase.

ETF, Whales and Supply is Shrinking The ETH spot ETF funds in the US just had their largest trading day since July, bringing in $864 million on August 9. BlackRock's ETHA ETF led with $189 million. And not just institutions - large "whales" have accumulated 2.1 million ETH in July. With 28% of ETH being staked and increasing demand for ETFs, the trading supply is becoming increasingly tight week by week. Other large holders are also taking action: SharpLink Gaming currently holds $2 billion in ETH, Ether Machine holds 345,000 ETH, and Nasdaq-listed Cosmos Health is building an ETH treasury worth $300 million to position its strategy. Technical Indicators Indicate a Larger Movement On the chart, ETH has broken out of a symmetrical triangle pattern that has lasted for months - a pattern that traders are eager to see before strong bullish moves. Analyst MMCrypto believes that closing the week above a key resistance level could trigger a vertical price push and may even weaken Bitcoin's dominance in the short term. With supply tightening, demand from whales increasing, and corporate treasury bonds flooding in, the current situation feels like something bigger is happening. Whether ETH breaks through resistance or consolidates first, the market seems poised for even more volatility — and it could be even more painful for anyone betting against it.