Raoul Pal Claims Global Liquidity Drives 89% of Bitcoin’s Price, Dismissing Narratives as Noise

Renowned investor Raoul Pal contends that global liquidity plays a decisive role in Bitcoin’s price movement. He suggests that a whopping 89% of Bitcoin’s price fluctuations can be attributed to M2—a broad measure of money supply—according to his analysis, with a consistent lag of approximately 12 weeks compared to the trajectory of Bitcoin (in pink). 🤯 📈 💰 This trend indicates that monetary expansionary measures, not short-term market narratives or headlines, are the true drivers behind Bitcoin’s long-term price performance.