EVERYONE’S WRONG! Bitcoin Isn’t Ready Yet (Here’s Why) | Raoul Pal

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Raoul Pal just delivered one of his most important Bitcoin updates of the year—and surprisingly, it’s more cautious than many investors expected.

While Bitcoin continues to show resilience following months of consolidation, Pal argues that the single most important driver of markets—liquidity—is still not accelerating fast enough to support a true parabolic breakout.

In this video, we break down Pal’s latest analysis on:

✅ Why liquidity explains nearly 87% of Bitcoin’s long-term price movements

✅ Why Bitcoin may still be trading below fair value

✅ The critical role of US banks and Treasury markets

✅ Why a steeper yield curve could unlock the next wave of liquidity

✅ Michael Howell’s latest global liquidity warning

✅ The connection between AI investment, government spending, and Bitcoin

✅ Why Bitcoin could still be headed much higher over the long run

Pal believes global liquidity, US broad liquidity, and M2 money supply are all moving in the right direction. However, the narrow liquidity measures that have historically shown the strongest correlation with Bitcoin remain relatively weak.

Could this explain why Bitcoin has struggled to reclaim previous highs despite ETF inflows, improving economic data, and growing institutional adoption?

Watch until the end to see why the next phase of the Bitcoin bull market may depend less on crypto-specific news and more on the global liquidity cycle.

👇 Let us know in the comments:

Do you agree with Raoul Pal’s cautious outlook, or do you think Bitcoin is already preparing for its next major breakout?

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Sources: Raoul Pal The Journey Man and Real Vision
The Everything Code… At Your Fingertips | Raoul Pal The Journey Man

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