Pal told his one million followers on social media platform X that Bitcoin is rising amid rising global liquidity. The chart he shared compared global liquidity with Bitcoin, suggesting that the leading cryptocurrency could hit $90,000 by November.
Raoul Pal: "Close, very close. Total global liquidity of GMI (Global Macro Investors) and BTC."
Pal also noted the historical relationship between Bitcoin and the global money supply (M2), suggesting that the leading cryptocurrency is preparing for a major breakout.
Raoul Pal, macro investment expert and CEO of Real Vision, believes that Bitcoin is on the verge of a major rally at $60,313 due to increased global liquidity.
Real Vision macro expert Julien Bittel also said that macroeconomic conditions are starting to inject more liquidity into the market, which is positive for risk assets like Bitcoin.
Julien Bittel: “Hold on, bulls. It feels like we’ve been stuck in the ‘Dream Zone’ for a long time, but there’s finally light at the end of the tunnel. Liquidity is picking up again and Bitcoin – which is extremely sensitive to changes in liquidity conditions – is likely to make some impressive moves as new liquidity flows into the system. The macro backdrop is changing. There’s a big liquidity wave coming and when it does, Bitcoin looks set for a strong rally in Q4. Patience is the key to the game right now.”
Bitcoin is trading at $60,219 at the time of writing and has gained more than 3% over the past 24 hours.
Experts’ positive expectations of increased global liquidity suggest that Bitcoin could see significant volatility in the near term. However, given the volatile nature of the cryptocurrency market and the uncertainty of macroeconomic factors, it is important for investors to remain cautious and monitor the market closely.
