Journalist
Posted:
- Mark Yusko predicted a likely bear phase in mid-2025 after BTC raised $150,000.
- On-chain statistics showed additional room for growth for BTC.
According to Mark Yusko, CEO and founder of investment advisory firm Morgan Creek Capital, crypto could enter a bear market phase by mid-2025.
In a recent one interview with Cointelegraph Yusko stated:
“We will have another bear market from mid-2025 and we will enter the crypto winter again”
Yusko expected the market to peak when Bitcoin [BTC] reaches $150,000 and then dips, citing historical trends associated with parabolic rallies. He added:
“The $150,000 range is certainly possible. It is a premium of 50% above fair value. We will probably get there and unfortunately end up in a bear market.”
Yusko believed that a national reserve of US BTC could accelerate development Goal of $150,000. Interestingly, other analysts predicted a value of $1 million per BTC if the US BTC reserve continues. But Yusko was skeptical about the high price target.
BTC cycle status
The market’s top calls have increased since BTC reached the $100,000 milestone. Some predicted March 2025, while others saw the third and fourth quarters of 2025 as a likely turning point for BTC.
Yusko’s mid-2025 target is the latest bear call timeline. But do the on-chain metrics paint the same picture?
Source: Glassnode
One of the top indicators, the MVRV-Z score, showed plenty of room for BTC growth before reaching the top. The rating metric correctly marked the final cycle tops when it crossed the 7 (upper band).
The current reading of 3 mirrored December patterns for 2020. In the last cycle the statistic peaked on 7 (March 2021) and 4 (October 2021).
Another accurate top signal, Pi Cycle Top, which is based on a cross between two long-term moving averages, showed a large gap at the time of writing. This indicated more room for growth before a likely top.
Source: BM Pro
Historically, a BTC top and general “bear market phase” always begins the year after the halving.
Read Bitcoin [BTC] Price forecast 2024-2025
Some analysts, however to believe BTC may not experience an intense bear phase like previous cycles, citing increased institutional players.
But the absolute market top timeline for 2025 and the intensity of the bear phase remain to be seen. However, one thing is certain: according to the on-chain metrics, there was still room for BTC to grow.