Raoul Pal looks at 2026: Liquidity fully released, encryption and the financial system entering a new phase simultaneously.Former Goldman Sachs executive, current member of the Sui Foundation, and macro investor Raoul Pal emphasized multiple times in a recent interview that his core judgment about the future market does not focus on short-term price performance, but rather on "how liquidity is reopened at an institutional level." In his analytical framework, the significance of 2026 does not come from the highs and lows of market sentiment, but rather from the formation of a new cycle of funds as monetary policy, the banking system, government finance, and encryption systems gradually synchronize.
Liquidity pressure relief, moving towards a new stage in 2026
Raoul Pal pointed out that the second half of 2025 will experience a forced liquidity squeeze period in the market, and the function of this stage itself is to pave the way for the subsequent environment.
He believes that by the year 2026, multiple conditions will be met simultaneously, including the Federal Reserve (.
ChainNewsAbmedia·2025-12-23 06:34