'Everyone Thinks Trump Is Our Friend—He's Not': Mark Yusko Exposes Crypto Reality

Core Viewpoint - Morgan Creek Capital CEO Mark Yusko warns that President Trump has a different agenda regarding cryptocurrency, focusing on preserving dollar dominance, and predicts Bitcoin will bottom around $58,000-$63,000 in September [1][2]. Group 1: Trump's Agenda and Crypto - Yusko asserts that Trump is not a friend to the crypto community, indicating that his agenda is contrary to the interests of cryptocurrency [2]. - He claims that Treasury Secretary Scott Bessent and others are involved in clandestine efforts with Cantor Fitzgerald and Tether to maintain dollar hegemony and counter China's ambitions for the yuan to become the world reserve currency [2]. Group 2: Bitcoin Market Analysis - Yusko believes the four-year Bitcoin cycle remains intact, with the next trough expected around September 30-October 1, 2023 [3][4]. - Technical analysis suggests Bitcoin could fall to $58,000-$63,000, with previous cycles showing declines of 84% and 75% from peaks [4]. - Bitcoin's recent peak was $126,000, which is only 35% above its fair value of around $90,000, indicating less potential upside and downside compared to previous cycles [4]. Group 3: Fair Value and Market Dynamics - Yusko's Metcalfe's Law model estimates Bitcoin's current fair value at $81,000, down from $90,000 due to hash rate shutdowns and declining transaction volumes [5]. - Yusko discusses how commodity futures can suppress Bitcoin prices, explaining that institutions may buy Bitcoin ETFs while shorting futures to maintain market neutrality [6].