The global cryptocurrency market is showing signs of stabilization, with a total market cap reaching $3.88 trillion, marking a 0.28% increase in the past 24 hours. Despite a significant leveraged liquidation event that erased nearly $19 billion in open positions, Bitcoin has rebounded, trading near $113,381 with a 1.44% daily increase and over $700 billion in 24-hour trading volume. Morgan Creek Capital founder Mark Yusko commented on Bitcoin's resilience, attributing its growth to the declining value of global fiat currencies. He emphasized that Bitcoin's price is influenced by monetary devaluation, especially in countries like Turkey and Venezuela. Yusko predicts that the next Bitcoin bear market will see a smaller decline of 15% to 20%, driven by increased institutional involvement and Bitcoin's alignment with its fair value.
Mark Yusko Predicts Milder Bitcoin Bear Market Amid Recovery
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