Bitcoin Around $98K Following Eric Trump’s Investment Endorsement

Eric Trump’s bullish sentiment fuels a fresh rally in BTC prices.

Bitcoin (BTC) soared past the $98,000 mark during Thursday's Asian trading session, driven by an unexpected endorsement from Eric Trump, son of U.S. President Donald Trump. In a post on X, formerly known as Twitter, Eric Trump encouraged World Liberty Financial—a crypto platform with links to the Trump family—to make its first Bitcoin investment.

"[It] feels like a great time to enter BTC, @worldlibertyfi," Trump wrote at 1:41 UTC.

The immediate market response was swift. Bitcoin prices jumped from $96,900 to $97,830 shortly after the post, with micro CME futures briefly topping the $98,000 threshold, according to TradingView data. The post’s timing and its rapid influence on market dynamics underscored the growing impact of high-profile figures on cryptocurrency price movements.

This surge comes amid heightened anticipation in the crypto community regarding the Trump administration’s stance on digital assets. Earlier this week, David Sacks, the administration’s AI and crypto czar, indicated that the government is evaluating the feasibility of a strategic Bitcoin reserve. However, Sacks tempered expectations, noting that the review process is in its early stages, disappointing some crypto enthusiasts who had hoped for swift policy developments.

Despite the tempered government response, Eric Trump’s public endorsement injected fresh optimism into the market. His post not only influenced price action but also sparked renewed interest in Bitcoin as an investment asset, particularly among retail traders and institutional observers closely monitoring political shifts around digital currencies.

Bitcoin’s price trajectory has been influenced by a confluence of factors, including regulatory developments, institutional adoption, and macroeconomic trends. The recent endorsement from a figure within the Trump family adds another layer of intrigue to Bitcoin’s narrative, especially as political and financial worlds increasingly intersect in the digital asset space.

Market analysts suggest that Bitcoin’s push toward the $100,000 milestone could be accelerated if influential figures continue to advocate for its adoption. While the crypto market remains volatile, moments like these highlight the role of sentiment-driven catalysts in shaping short-term price movements.

As of now, Bitcoin is trading just below the $98,000 mark, with traders eyeing the psychological barrier of $100,000 as the next key resistance level. The combination of political endorsements and evolving government policies will likely continue to influence Bitcoin’s price dynamics in the coming weeks.

photo source / Blockonome