Raoul Pal Contradicts Crypto Decline Narrative with Data-Driven Analysis

Financial analyst Raoul Pal has responded to claims that the crypto market is in decline by presenting data from the past year.

According to his analysis, since the 2022 liquidity-cycle low, Bitcoin has gained approximately 318% and is currently trading near $65,800. In contrast, the Nasdaq 100 has risen roughly 187% over the same period, indicating that Bitcoin has outpaced tech stocks by a significant margin.

Pal's framework suggests that global liquidity expansion rewards high-beta assets like Bitcoin, contradicting the narrative that capital favors AI and chip makers over cryptocurrencies.