"Most of Bitcoin’s selling pressure has largely cleared… new record high possible within 12–18 months"

Amid heightened volatility in the crypto-asset (cryptocurrency) market, a new analysis says that most of Bitcoin’s (BTC) key selling pressure has largely been absorbed. The market is increasingly raising the possibility that a new price peak could form over the next year or so.

According to crypto-asset outlet Bitcoin Sistemi on the 16th, Mark Yusko—CEO and CIO of Morgan Creek Capital Management—said in a recent interview that “Bitcoin’s intense selling phase has effectively entered its final stage.”

Yusko pointed to “forced selling” as a main driver of the recent price decline. He said that raising cash to pay taxes and position liquidations by some institutional investors amplified downside pressure. In his view, this capitulation phase has largely run its course.

He also cited as a positive factor that Bitcoin is forming a support level around $60,000. Considering the macroeconomic backdrop and global liquidity flows, Yusko said the market could regain upward momentum.

He specifically flagged Bitcoin’s halving and the potential for an expansion in global liquidity as key variables. If central banks ease monetary policy while supply growth is constrained at the same time, he said, conditions could align for a strong upswing in the Bitcoin market.

Yusko projected that “Bitcoin could set a new price high within the next 12–18 months.”

He added, however, that investors should focus less on overreacting to short-term price swings and more on the fact that Bitcoin continues to grow its network as a store of value.