US President Donald Trump’s son, Eric Trump, took to X and said that it feels like a great time to enter Bitcoin (BTC). He also tagged World Liberty Financial in his post. World Liberty Financial is a crypto firm personally backed by President Trump. Eric Trump had a similar post for Ethereum (ETH) on Tuesday.
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Feels like a great time to enter #BTC! 🚀 @worldlibertyfi
— Eric Trump (@EricTrump) February 6, 2025
Bitcoin Reacting Positively To Eric Trump’s Post
BTC’s price has risen 0.8% in the daily charts, reclaiming the $98,000 price level. The asset seems to be reacting positively to Eric Trump’s X post. Despite the slight recovery, BTC is down 6.6% in the weekly charts, 4% in the 14-day charts, and 3.5% over the previous month.
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The cryptocurrency market faced a major correction earlier this week after the US imposed heavy tariffs on Canada and Mexico. Bitcoin (BTC) briefly fell below $93,000. The market recovered after the US paused tariffs for 30 days.
BTC experienced another correction earlier this month due to macroeconomic factors. The Federal Reserve has yet to announce an interest rate cut, and the Fed’s hawkish monetary policy presents a significant barrier to the crypto market.
New All-Time High?
According to CoinCodex, Bitcoin (BTC) will continue to rally over the next few months. The platform anticipates the asset will reclaim its previous peak on Feb. 17, 2025. CoinCodex does not expect BTC to stop just there. The platform predicts the asset will hit a new all-time high of $158,900 on May 6, 2025. Hitting $158,900 from current price levels will entail a rally of about 61.7%.
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There is also a possibility that Bitcoin (BTC) will face another correction. The crypto market could suffer if the US brings back its tariffs against Canada and Mexico. Macroeconomic factors could also present an obstacle to the crypto market.