Could Bitcoin (BTC) be on the verge of a major rally? According to macro analyst and former Goldman Sachs executive Raoul Pal, the answer is a resounding yes. He believes Bitcoin is about to ignite its next bullish phase, following a familiar pattern tied to global liquidity cycles.

Bitcoin and the Global Liquidity Cycle

Pal recently shared insights with his 1.1 million followers on social media platform X, explaining that Bitcoin closely tracks global M2—the total money supply across the world. Historically, BTC moves in sync with this metric but lags by approximately 10 weeks.

His latest chart suggests that global M2 has sharply rebounded after bottoming out in late 2024. Based on this pattern, Pal predicts that Bitcoin’s recent correction is nearing its end, and a fresh wave of rallies could be imminent.

“The waiting game is almost over,” he stated. “The 10-week lead is my preferred.”

A Slightly Different Take on Timing

While Pal is confident in his 10-week lag theory, Julien Bittel, head of macro research at Global Macro Investor (GMI), believes Bitcoin follows global M2 with a 12-week delay. If Bittel’s model holds true, Bitcoin could be bottoming out this week before beginning its next ascent.

Earlier this month, Pal also highlighted that despite a “regular correction,” global M2 remains on an upward trajectory. This, he suggests, will ultimately drive Bitcoin and the broader crypto market higher.

“This too shall pass… Crypto is still feeling the effects of a strong dollar and high interest rates from Q4 2024. But that’s almost done. Financial conditions are easing fast, and M2 is heading back to new highs.”

How High Can Bitcoin Go?

Pal has set ambitious targets for Bitcoin’s current market cycle. He believes BTC will reach a minimum of $210,000, with the potential to climb as high as $412,000 or even $805,000.

His projection is based on the logarithmic regression channel, a technical tool used to track Bitcoin’s long-term price trends. He notes that Bitcoin typically stays within this channel, though it could surpass its standard deviation depending on how the cycle unfolds.

At the time of writing, Bitcoin is trading at $82,500, down 2.25% over the past 24 hours. However, if Pal’s analysis holds true, BTC’s next explosive rally may be just around the corner.

Stay tuned—this could be the moment long-term Bitcoin investors have been waiting for!