Raoul Pal: Bitcoin Holds 87% Correlation to Global Liquidity, Targets $450K by Year-End

BTC-1.57%
NDAQ2.90%
According to Raoul Pal, founder of Real Vision and former Goldman Sachs hedge fund manager, Bitcoin holds an 87% correlation to global liquidity, while the Nasdaq correlates at 97%. Pal stated on X that these assets are tracking money supply in the system rather than trading on earnings or news. In May 2026, he outlined a $450,000 Bitcoin price target contingent on central bank liquidity expansion by year-end, arguing that recurring debt rollovers force central banks to inject liquidity every four years to prevent systemic collapse.
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