Eric Trump, the son of US President Donald Trump, taunted bearish traders on X as crypto prices jumped on Friday.

He told his nearly 6 million followers that seeing Ethereum shorts “get smoked” put a smile on his face and warned that anyone shorting Bitcoin or Ethereum “will be run over.”

At the same time, Bitcoin pushed past $117,000 and Ether climbed back above $4,200.

Policy Move Sparks A Fresh Rally

According to market reports, a recent executive action signed by President Trump helped spark the move. The order was tied to retirement account rules and stirred talk that 401(k) flows could become more crypto friendly, which pushed funds and traders to rethink bearish bets.

Price swings followed quickly, and traders who had bet against the rally found themselves under pressure.

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