Ethereum surpassed $4,000 on Friday, marking its highest price point in eight months and resulting in significant short positions being liquidated. Eric Trump, son of former U.S. President Donald Trump, took to social media to express his optimism about the market surge, urging traders to stop betting against both Bitcoin and Ethereum. His comments came as analysis pointed to a potential short squeeze at $4,100, with some analysts projecting a target price of up to $8,000 for Ethereum in the near future. 53% of all crypto liquidations were attributable to ETH shorts. This surge coincided with substantial institutional involvement, including activity from ETFs and treasury companies, further driving price increases. Analyst Ted Pillows highlighted growing demand for Ethereum ETFs and increasing holdings by various institutions. Further bolstering this trend is a record $95.6 trillion in global M2 money supply. Analysts believe the high liquidity levels contribute to Ethereum’s valuation climb. Technical analysis from Washigorira suggests an imminent breakout, with potential targets of $8,000. Eric Trump’s bullish outlook coincides with previous market indicators and projections. However, key resistance level at $4,100 remains a crucial point for traders to watch in the coming days.