Macro Indicators Suggesting Bitcoin Rallies Just Getting Started, According to Ex-Goldman Sachs Executive - The Daily Hodl
Real Vision CEO Raoul Pal thinks Bitcoin's (BTC) rally is all about the global liquidity cycle. In a new analysis, the former Goldman Sachs executive lays out how he believes crypto is tied into the traditional macroeconomic framework....
- Real Vision CEO Raoul Pal believes that Bitcoin's recent rally is connected to the global liquidity cycle.
- Pal compares the ISM manufacturing index, a barometer for the business cycle, with Bitcoin's current position in the cycle and finds a close correlation.
- He also looks at global M2, a money supply metric, and suggests that Bitcoin's lead over ISM is driven by the upward trajectory of the liquidity cycle.
- Pal's models indicate that the liquidity cycle bottomed in October 2022 and is expected to continue rising until 2024.
- At the time of writing, Bitcoin is valued at $37,581.
The sentiment of the article is generally positive, as it highlights Bitcoin's rally and its correlation with the global liquidity cycle. Raoul Pal's analysis suggests a positive outlook for Bitcoin and tech stocks.