"Most Bitcoin selling pressure has been cleared… new record high possible within 12–18 months"

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

According to Bitcoin Sistemi, a crypto-focused outlet, Mark Yusko—CEO and CIO of Morgan Creek Capital Management—said in a recent interview that “the heavy selling phase in Bitcoin has effectively entered its final stages.”

Yusko pointed to “forced selling” as a main driver of the recent price decline. He said efforts to raise cash for tax payments 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 establishing a support level around $60,000. Taking into account the macroeconomic backdrop and global liquidity flows, Yusko said the market could regain upward momentum.

He in particular highlighted 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 forecast that “Bitcoin could set a new price high in the next 12–18 months.”

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