Ex-Goldman Sachs Executive Breaks Down the Current Stage of the Crypto Cycle
TL;DR Raoul Pal, former Goldman Sachs executive and CEO of Real Vision, argues that the crypto market is currently in a mid-cycle phase rather than a
Raoul Pal (Latest Publications)
Raoul Pal: Retail Capital Didn’t Leave Crypto — It Went Where Returns Were Higher
TL;DR Raoul Pal argues retail rotated from crypto to AI chasing performance, not out of disinterest. Adults under 35 have limited liquidity and follow whichever narrative
Raoul Pal Dismantles Bearish Narrative: Bitcoin and SaaS Show Identical Correlation Due to Liquidity Crisis
TL;DR Raoul Pal argues that Bitcoin’s decline mirrors SaaS stocks, caused by a temporary US liquidity contraction, not broken fundamentals. He identifies factors like the Reverse
Raoul Pal Blames Liquidity Crunch for Bitcoin’s Underwhelming 2025
Raoul Pal projects that Bitcoin could resume its bull run in 2026 thanks to up to $8 trillion in liquidity entering financial markets.
Bitcoin’s Network Expansion Mirrors Google’s Early Surge, Says Raoul Pal
TL;DR Raoul Pal states that Bitcoin’s current expansion resembles Google’s early global scale-up, describing a fast-evolving network where adoption drives much of the asset’s value. He
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