- Eric Trump repeated his “buy the dips” call for Bitcoin and Ethereum during ongoing price corrections.
- Bitcoin dropped below $113.5K, with RSI signaling oversold after an $8K slide since late July.
- Ethereum fell under $3.6K, breaking support and extending its $500 decline amid weak momentum and oversold RSI.
Eric Trump is urging investors to “buy the dips” in Bitcoin (BTC) and Ethereum (ETH), reiterating a call he first made in February in a new post on X. His post, which included the ticker symbols for both assets, signals his support in the latest crypto market’s price correction.
Bitcoin Drops Below $113.5K, Hits Oversold Zone After $8K Slide
The call comes as Bitcoin is showing signs of continued weakness. The price fell another 0.29% in the last four hours, dropping to $113,434.
This move pushed BTC further below a key technical indicator, the 50-day EMA, which now sits at $116,712. For traders, this is a clear sign that the bearish trend is still in control.
The Relative Strength Index (RSI), a measure of market momentum, has fallen to 29.80. This reading suggests that Bitcoin is in “oversold” conditions, but the indicator remains below the neutral 50 level, showing that buying pressure is still weak.
BTC has now lost over $8,000 since its late July high which was just shy of $121,000. The key support level it broke around $116,700 at the time has now flipped to become the new resistance. Persistent weakness below this level highlights sellers’ control.
If the oversold conditions bring in some buyers for a short-term bounce, the price will still need to reclaim $116,700 to change the trend. Otherwise, the decline could extend toward the $110,000 region.
Ethereum Falls Below $3.6K, RSI Signals Oversold After $500 Drop
Ethereum (ETH) is in a similar situation. Ethereum (ETH) dropped 0.03% in the past four hours, trading at $3,507 after falling from $3,513. This decline extended a larger pullback from late July highs near $4,000.
Like Bitcoin, ETH has also broken below its 4-hour 50-day EMA at $3,686, which confirms the bearish pressure.
ETH’s RSI is also in oversold territory at 29.87, which suggests a relief bounce could be possible if buyers step in. However, trading volume shows steady selling pressure, and the price recently broke below a rising channel pattern that had formed in July.
Related: After 48% July Gain, Can Ethereum Break Key $4K Resistance in August?
That broken support now also acts as resistance. Having lost nearly $500 from last week’s highs, a failure to hold the current level could risk a further decline toward the $3,400 support zone.
What Happened After Eric Trump’s Last Big Crypto Call?
Previously, on February 4th, Eric Trump encouraged investors to buy Ethereum, stating, “In my opinion, it’s a great time to add ETH. You can thank me later.”
What happened next is a lesson in crypto volatility. Shortly after his post, Ethereum plunged nearly 37%, hitting a bottom near $1,470 in April. For those who held on, however, the call was eventually proven right. By mid-July, ETH had rebounded all the way to $3,700, delivering a solid gain over the five-month period.
However, the episode sparked irony and skepticism when a Trump‑linked firm, World Liberty Financial, reportedly sold around 5,500 ETH at deep losses, about 55% below their average cost, highlighting the short‑lived downside risk of the call.
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