Bitcoin worth skilled a pointy decline, falling under $89,000 for the primary time in three months on February 25. The crypto misplaced over 8% in worth inside a single day, triggering widespread concern amongst buyers. Nevertheless, Eric Trump, the son of U.S. President Donald Trump, took to X to encourage buyers to capitalize on the crypto market selloff.
Eric Trump Encourages Traders to Purchase the Dip
In a current post on X, the son of U.S. President Donald Trump weighed in on the crypto market selloff, urging buyers to “Purchase the dips!” His message resonated with those that view corrections as an opportunity to build up Bitcoin at decrease costs. Eric Trump’s assertion sparked reactions throughout the crypto neighborhood, with some seeing it as a present of confidence in Bitcoin’s long-term potential.
Michael Saylor, Government Chairman of Technique, additionally responded to the crypto market decline. He referred to the worth drop as a “Bitcoin sale,” hinting that his firm might benefit from the decrease costs. Saylor has persistently supported Bitcoin and led Technique to accumulate important holdings through the years.
Reacting to Eric Trump’s tweet, the CEO of Technique added,
“The very best recommendation, volatility is a present to the trustworthy.”
Regardless of optimism from some, skepticism remained amongst different monetary consultants. Gold advocate Peter Schiff dismissed the thought of shopping for the dip, warning that additional declines might observe. Schiff has lengthy criticized Bitcoin, arguing that it stays a speculative asset vulnerable to extreme worth swings.
MicroStrategy Continues Increasing Its Bitcoin Holdings
Amid the crypto market selloff, Technique, previously MicroStrategy, confirmed one other main Bitcoin acquisition. The agency introduced a $2 billion buy, securing 20,365 BTC at a mean worth of $97,514 per coin. This addition aligns with the corporate’s long-term accumulation technique, which goals to carry $42 billion value of Bitcoin over the following three years.
Following its newest buy, Technique’s Bitcoin holdings have grown to roughly 499,096 BTC, valued at round $47 billion primarily based on present costs. This represents almost 2.4% of Bitcoin’s whole provide, positioning the corporate as the most important company Bitcoin holder.
The corporate has continued its shopping for technique regardless of fluctuations in Bitcoin worth. Whereas some view this as a dedication to long-term funding, others warning that the technique carries dangers given the risky crypto market.
A Shopping for Alternative or Additional Declines?
The broader crypto market also experienced losses, with Ethereum (ETH) dropping 9% to $2,405 and Solana (SOL) falling 7% to $143. Bitcoin’s market capitalization fell to $1.76 trillion, reflecting elevated promoting stress throughout digital belongings.
In the meantime, Customary Chartered’s head of crypto analysis, Geoff Kendrick, advised that Bitcoin might see additional declines. He predicted an extra 10% drop, probably bringing costs all the way down to the early $80,000 vary. Kendrick pointed to ongoing outflows from U.S. Bitcoin spot ETFs as a key issue that would contribute to prolonged losses.
BITCOIN COULD FALL FURTHER AFTER BREAKING BELOW $90K: STANDARD CHARTERED
Bitcoin has hit a three-month low under $90,000, and Customary Chartered’s Geoff Kendrick expects it to fall additional. Whereas nonetheless performing “comparatively effectively,” bitcoin is caught in a broader cryptocurrency…
— *Walter Bloomberg (@DeItaone) February 25, 2025
Whereas some, like Eric Trump and Michael Saylor, view the present crypto market selloff as a chance, others stay cautious concerning the potential for additional draw back.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with 4 years {of professional} expertise, having contributed considerably to varied media retailers on cryptocurrency developments and applied sciences. With over 4000 printed articles throughout varied media retailers, he goals to tell, educate and introduce extra folks to the Blockchain and DeFi world. Exterior of his journalism profession, Ronny enjoys the joys of motorbike driving, exploring new trails and landscapes.
Disclaimer: The offered content material might embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability to your private monetary loss.
✓ Share: