Eric Trump Says ‘Buy the Dip’ on BTC and ETH; Here’s What Happened Last Time

Key Points

1. Bitcoin dropped below $113.5K, with RSI signaling oversold conditions after an $8K slide since late July, breaking key support at $116,700.

2. Ethereum fell under $3.6K, also entering oversold territory with an RSI of 29.87, having lost nearly $500 from its late July highs near $4,000.

3. Eric Trump previously urged buying Ethereum in February; despite an initial 37% drop to $1,470, ETH rebounded to $3,700 by mid-July, validating his call.

4. A Trump-linked firm, World Liberty Financial, reportedly sold around 5,500 ETH at deep losses during the downturn, sparking skepticism.

5. Technical indicators suggest potential short-term rebounds for both BTC and ETH, but reclaiming key resistance levels is necessary to reverse the downtrend.