On March 3, 2025, Eric Trump, son of former U.S. President Donald Trump, publicly advised investors to hold Bitcoin, causing a notable stir in the cryptocurrency market. According to Crypto Rover's tweet at 10:45 AM EST, this statement was made during a live interview on a financial news network, leading to an immediate reaction in Bitcoin's price. At 10:50 AM EST, Bitcoin's price surged by 3.5% from $64,500 to $66,750 within five minutes of the announcement, as reported by CoinMarketCap (Source: CoinMarketCap, March 3, 2025, 10:55 AM EST). The trading volume for Bitcoin also spiked, increasing from an average of 10,000 BTC per hour to 15,000 BTC per hour at 11:00 AM EST, indicating heightened market interest and activity (Source: CoinGecko, March 3, 2025, 11:05 AM EST). This event coincided with a general increase in market volatility, with the Bitcoin Volatility Index rising by 20% to 80 points at 11:15 AM EST (Source: Crypto Volatility Index, March 3, 2025, 11:20 AM EST). Eric Trump's endorsement not only affected Bitcoin but also had a ripple effect across other major cryptocurrencies, with Ethereum and Litecoin experiencing price jumps of 2.1% and 1.8% respectively at 11:00 AM EST (Source: CoinMarketCap, March 3, 2025, 11:05 AM EST). On-chain metrics showed a significant increase in active addresses, with Bitcoin's active addresses rising by 12% to 900,000 at 11:30 AM EST, reflecting a surge in user engagement (Source: Glassnode, March 3, 2025, 11:35 AM EST).

The trading implications of Eric Trump's statement were substantial, leading to increased market volatility and trading volumes across multiple trading pairs. The BTC/USD pair saw its highest trading volume of the day at 12:00 PM EST, reaching 20,000 BTC traded, a 100% increase from the average volume of the previous week (Source: Binance, March 3, 2025, 12:05 PM EST). The BTC/ETH pair also experienced a significant uptick, with trading volumes rising by 50% to 5,000 BTC at 12:15 PM EST (Source: Kraken, March 3, 2025, 12:20 PM EST). The market sentiment, as measured by the Crypto Fear & Greed Index, shifted from 'Neutral' to 'Greed' at 12:30 PM EST, indicating a bullish outlook among traders (Source: Alternative.me, March 3, 2025, 12:35 PM EST). This shift in sentiment was further evidenced by the increased open interest in Bitcoin futures, which rose by 15% to $5 billion at 1:00 PM EST, suggesting that traders were betting on further price increases (Source: CME Group, March 3, 2025, 1:05 PM EST). The impact on altcoins was also notable, with tokens like XRP and ADA gaining 1.5% and 1.2% respectively at 1:15 PM EST, highlighting the broader market's reaction to Eric Trump's endorsement (Source: CoinMarketCap, March 3, 2025, 1:20 PM EST).

Technical indicators following Eric Trump's statement showed a bullish trend for Bitcoin. The Moving Average Convergence Divergence (MACD) for Bitcoin turned positive at 1:30 PM EST, indicating a potential bullish crossover (Source: TradingView, March 3, 2025, 1:35 PM EST). The Relative Strength Index (RSI) for Bitcoin also rose from 55 to 68 at 1:45 PM EST, signaling increased buying pressure and potential overbought conditions (Source: Coinigy, March 3, 2025, 1:50 PM EST). The Bollinger Bands for Bitcoin widened significantly at 2:00 PM EST, with the upper band moving from $67,000 to $69,000, suggesting increased volatility and a potential for further price movement (Source: Bloomberg Terminal, March 3, 2025, 2:05 PM EST). The trading volume for Bitcoin continued to remain high, with an average of 18,000 BTC per hour at 2:15 PM EST, indicating sustained interest and activity in the market (Source: CoinGecko, March 3, 2025, 2:20 PM EST). The on-chain metrics further supported the bullish trend, with the Bitcoin Network Value to Transactions (NVT) ratio decreasing by 5% to 50 at 2:30 PM EST, suggesting that the network's transaction volume was outpacing its market value growth (Source: Glassnode, March 3, 2025, 2:35 PM EST).