Ah, my dear friend Raoul Pal posits that an astounding 89% of Bitcoin‘s erratic little dance can be attributed to something as mundane as Global M2—a term that might sound as drab as a wet sack of potatoes but holds the fickle essence of money supply itself.
Indeed, if we cast an eye towards the chart, we see Bitcoin frolicking in joyous pink, like a child in a candy store, closely trailing the dignified black line of Global M2. A good twelve weeks behind, much like a wayward student perpetually late to class.
What a revelation! It appears monetary expansion is the maestro of this peculiar symphony, conducting the strings of Bitcoin’s long-term performance while ephemeral headlines and absurd narratives flit about like drunken flies at a summer picnic. 🐝
“If 89% of all BTC price action is but a mere puppet show orchestrated by Global Liquidity,” quips Pal, “then alas, it seems all ‘news’ and ‘narrative’ are nothing but cacophony.” 🎭
Thus, Pal’s musings lend credence to the rather cheeky perspective that Bitcoin is not merely a speculative scarecrow rustling in the wind, but rather a macro asset, happily dancing to the tune of debasement and liquidity cycles. As our beloved global liquidity expands in the year 2025 like a balloon on a diet of cupcakes, Pal suggests our dear BTC may still reach for the stars—or at least a lofty rooftop terrace.
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2025-06-14 23:11