Eric Trump Predicts $8K Ethereum as BTC Slips
Eric Trump supports $8K ETH target as global M2 money supply hits $95.6T and Bitcoin dominance drops under 60%.
- Eric Trump backs a bullish $8,000 ETH price target.
- Global M2 money supply reaches a record $95.6 trillion.
- Bitcoin dominance drops below 60%, signaling altcoin strength.
In a surprising move, Eric Trump has thrown his weight behind a bold Ethereum forecast. The former president’s son endorsed an $8,000 price target for ETH, fueling fresh excitement in the crypto market. While not traditionally linked to the digital asset space, Trump’s backing of Ethereum has caught the attention of both retail and institutional investors.
His statement comes at a time when Ethereum has been steadily gaining traction due to its growing ecosystem of DeFi applications and Layer 2 innovations. The endorsement also reflects a broader narrative: major figures outside of crypto are increasingly recognizing Ethereum’s potential as more than just a tech platform—it’s becoming a cornerstone of modern finance.
M2 Money Hits Record Highs: Inflation & Crypto Correlation
The global M2 money supply, which includes cash, checking deposits, and easily convertible near money, has hit an all-time high of $95.6 trillion. Historically, rising M2 signals increased inflation risk, often prompting investors to seek alternative stores of value such as cryptocurrencies.
This macroeconomic backdrop supports Ethereum’s bullish thesis. As fiat currencies lose purchasing power, digital assets like ETH become more attractive. The growing M2 also aligns with previous bull cycles in crypto, adding further momentum to Trump’s $8K ETH endorsement.
Bitcoin Dominance Drops: Altcoin Season Ahead?
Another key market shift is Bitcoin’s declining dominance, now falling below 60%. This suggests capital is rotating into altcoins like Ethereum, Solana, and others. A lower BTC dominance has traditionally marked the onset of an “altcoin season,” where ETH and other tokens often outperform.
Ethereum, in particular, has been leading the charge with its improved scalability, staking mechanism, and the upcoming implementation of Proto-Danksharding. Trump’s support might be symbolic, but it arrives at a moment when market data is already leaning in ETH’s favor.
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