Raoul Pal Says Bitcoin Isn’t Broken as US Liquidity Shock Drives BTC and SaaS Selloff
The post Raoul Pal Says Bitcoin Isn’t Broken as US Liquidity Shock Drives BTC and SaaS Selloff appeared on BitcoinEthereumNews.com.
Key Takeaways: Raoul Pal says that the Bitcoin’s price decrease reflects correctly the SaaS stocks, showing the problem in macro liquidity, instead of only crypto. The fall of liquidity in the U.S. stems from Treasury actions, the Govrenment shutdowns and gold price upward momentum that all have strong impacts on long-term assets. Paul evaluates that the liquidity pressure is about to end thanks to interest rate cut and fiscal easing expected in the coming time. Bitcoin’s recent selloff has fueled claims that the crypto cycle is over. But according to Raoul Pal, founder and CEO of Global Macro Investor, that narrative misses the real driver behind the price action. Bitcoin and SaaS Are Telling the Same Story Pal says the idea that “BTC is broken” falls apart when compared with other risk assets. In a recent post, he highlighted that Bitcoin and SaaS equities are tracking the same chart. Despite operating in completely different sectors, both have sold off in near lockstep. The reason, Pal argues, is duration. Bitcoin and SaaS stocks are long-term investments, which implies that their price will largely rely on the future development. These assets are first discounted when liquidity tightens. This trend does not support arguments that it is crypto-specific events or sentiment that is a culprit. Other unrelated growth assets would not be falling so much in case Bitcoin weakness would be in isolation. Instead, the synchronized move points to a shared macro factor. Read More: Binance Unleashes 38M FOGO Rewards as SVM-Based Layer-1 Targets Early Liquidity Surge U.S. Liquidity Drain Hits Risk Assets According to Pal, the missing variable is U.S. liquidity. In the last one year, the liquidity situation became tight because there was a chain of intersecting factors. Federal Reserve reverse repo facility was significantly exhausted in 2024 and eliminated a…
Filed under: News - @ February 2, 2026 6:29 pm