Macro guru and Real Vision CEO Raoul Pal is suggesting Bitcoin (BTC) is on the verge of having massive breakout rallies due to one main catalyst.
Pal tells his one million followers on the social media platform X that Bitcoin appears to be rising in tandem with increasing global liquidity.
[adinserter block="1"]Pal shares a chart comparing global liquidity versus Bitcoin that suggests the flagship crypto may reach $90,000 by November.
“Close, very close. GMI (Global Macro Investor) Total Global Liquidity versus BTC.”
In addition, Pal says that a historical relationship between Bitcoin and the global money supply (M2) metric suggests that the top digital asset by market cap is gearing up for a massive breakout.
“Close, very close. Global M2 versus BTC.”
Real Vision macro expert Julien Bittel is also saying that the macroeconomic conditions are starting to inject more liquidity into the markets, which tends to be bullish for risk-on assets like Bitcoin.
“Hang in there, bulls. It’s felt like an eternity trapped in ‘The Boring Zone,’ but there’s finally some light at the end of the tunnel. Liquidity is on the rise again, and Bitcoin – being extremely sensitive to changes in liquidity conditions – has the potential to move explosively as fresh liquidity flows into the system. The macro environment is shifting. A major liquidity wave is now on the horizon, and when it hits, Bitcoin looks primed for a strong push higher in Q4. Patience is the name of the game now.”
Bitcoin is trading for $60,219 at time of writing, up more than 3% in the last 24 hours.
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