Morgan Creek Capital CEO Mark Yusko has warned that President Trump “has a whole different agenda” for crypto focused on preserving dollar dominance, predicting Bitcoin (CRYPTO: BTC) bottoms around $58,000-$63,000 in September.
The Trump Warning
Yusko told Altcoin Daily in an interview that Trump isn’t crypto’s friend despite appearances.
“Everyone thinks the president is our friend, meaning our collective friend in crypto. He’s not. He has a whole different agenda,” Yusko said.
Yusko argued Treasury Secretary Scott Bessent and others are working with Cantor Fitzgerald and Tether on “clandestine stuff” aimed at preserving dollar hegemony and preventing China’s vision of the yuan becoming the world reserve currency.
The Clarity Act poses danger. Yusko called the current version a “non-starter” that takes crypto down the path of CBDCs, centralization, and control.
He praised Coinbase (NASDAQ:COIN) CEO Brian Armstrong for fighting the bill, noting Armstrong was “labeled public enemy number one by Wall Street.”
The 3-11 Cycle Bottom
Yusko remains convinced the four-year cycle — actually 3 years 11 months based on Bitcoin blocks — stays intact.
The cycle peaked October 6, 2025, meaning the trough arrives around September 30-October 1 this year.
Moreover, technical targets point to $58,000-$63,000. Previous cycles saw Bitcoin fall 84% and 75% from peaks.
This time, Bitcoin only reached $126,000 versus fair value around $90,000 — just 35% above fair value versus 2x in prior cycles. Less upside means less downside.
Analyst Peter Brandt targets $63,000 while another technical model points to $58,000, aligning with the 200-week moving average.
Yusko’s Metcalfe’s Law model shows current fair value at $81,000, down from $90,000 due to hash rate shutdowns and falling transaction volumes.
The Futures Market Manipulation
Yusko explained how commodity futures suppress Bitcoin prices.
“Once you have a commodity, this bad thing can happen,” he said, describing how institutions like Millennium buy Bitcoin ETFs but short futures to remain market neutral.
The spoofing continues as JP Morgan paid $960 million in fines for spoofing gold markets but made $20 billion doing it. “Cost of doing business,” Yusko said.
The same dynamic now affects Bitcoin futures.
A short squeeze is coming.
When excess demand breaks through, shorts must cover at any price.
This drove gold from $2,000 to $5,000 and silver’s parabolic move. “At some point it’ll happen with Bitcoin again,” Yusko said.
The Next Cycle Target
Yusko predicts Bitcoin will reach $600,000-$700,000 by September 2029.
If gold settles at a $30 trillion market cap, Bitcoin achieving gold equivalence reaches $15 trillion.
At 10x current levels, that’s $750,000.
For Ethereum (CRYPTO: ETH), Yusko sees better odds than competitors despite higher costs and slower speeds.
More developers, more activity, and more infrastructure already built give ETH the advantage.
Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
To add Benzinga News as your preferred source on Google, click here.
