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Bitcoin could be approaching one of its biggest moves yet as liquidity begins to grow, innovation accelerates, and two of the crypto market’s most influential optimists see major forces lining up to support i of massive economic transformation driven by AI, robotics, energy storage , blockchain technology, and biotechnology.
She argues that Bitcoin can benefit from the shocks and counterparty risks that arise in the traditional economy, while outperforming gold. Raul Pal is watching another critical factor—global liquidity. He believes that the crypto market has been waiting for the next wave of liquidity, and as excess liquidity is now growing, the conditions for his optimistic forecast are starting to form.
In this video, we take a detailed look at what Katie Wood and Raoul Pal are seeing, why Bitcoin is starting to outperform gold, and why increased liquidity could be the catalyst the crypto market has been waiting for. . So, let's begin. We truly believe that this new world will bring a lot of creative destruction.
Again, robotics, energy storage, AI, blockchain, multi-omics technologies—this will affect every sector of ours. And you know, while a lot of funds, like private lending institutions, have made huge bets on SaaS, some software companies and stocks are now recovering a bit . Salesforce.com has shown a strong recovery after showing how the combination of generative AI and Slack can benefit the company.
But it still has to deal with a huge legacy software base. However, not everything is so bad and not everything is falling apart in the software industry. But we are convinced that there will be certain imbalances in every part of the economy . And , you know, we keep talking about electric cars, robo-taxis, and their overall impact on transportation.
We think this is one of the big sectors where we will see a lot of these disparities. We think this will affect every sector, so the question arises: where exactly in the economy are counterparty risks hidden? This could benefit both Bitcoin and gold. And so, we see... We believe that Bitcoin is both a defensive asset and an asset for risky investments.
Therefore, in the current environment, we believe that this ratio will continue to grow and reach historical highs. And quickly, according to bank credit default swaps, there are no worries in the world. The next phase of Bitcoin’s history may have less to do with speculation and more to do with what happens when the traditional economy faces serious upheaval.
Katie Wood argues that the wave of AI, robotics, energy storage, blockchain, and other emerging technologies will cause imbalances in almost every major sector. This is important because as companies, industries, and financial structures undergo changes simultaneously, investors begin to look for assets that can protect capital outside the balance sheets of individual corporations and traditional counterparties.
Wood believes that Bitcoin and gold could benefit from such an environment, but Bitcoin seems particularly interesting to her because it can act as both a risky technology asset and a protective monetary asset. There is already evidence that Bitcoin's relationship with traditional assets remains atypical.
Arc 2026 research found that Bitcoin had a low historical correlation with gold and other major asset classes, supporting the argument that it is a diversifier rather than simply replicating the behavior of stocks. Most recently, Arc’s September 2026 forecast indicated that Bitcoin had finally broken out ahead of gold, directly reinforcing the trend Wood was talking about.
We believe that the growth rate will at least double, and we actually consider this to be a fairly conservative estimate, especially given the profound growth driven by the development of AI. Uh, and since there are five, uh, five major innovation platforms emerging today, um, you've heard what I called them before.
So, starting with AI, the biggest catalyst, and then robotics, energy storage, blockchain technology, and multiomic sequencing and technology in general in the life sciences. So, these are five innovative platforms. The Industrial Revolution was associated with three main platforms. Well, the explosive development of railways was the basis.
And after that—the telephone, electricity, and the internal combustion engine. So, a fivefold increase. Um, is it possible that we'll get a fivefold increase in real GDP globally ? So, 15%. Um, we think that's actually possible. Uh , we know that Elon Musk is starting to use 10-15%, uh, so anything is possible, especially with Elon Musk, and he's definitely leading this revolution in very important ways.
But you can see here that the IMF expects growth of 3.1%. So, this is more than double the consensus forecast. What makes Wood's argument particularly optimistic is that she doesn't look at Bitcoin in isolation. She sees it within a much broader technological transformation, where artificial intelligence, robotics, energy storage, blockchain, and biotechnology are developing simultaneously.
This combination could cause huge changes in how capital is distributed in the global economy. The important part for Bitcoin is what happens when this transformation creates winners and losers. Companies with outdated business models may come under pressure, while investors may increasingly seek assets that are not dependent on the success of a single company, industry, or financial intermediary.
Wood also sees Bitcoin and gold as forms of insurance against counterparty risk, but Bitcoin has another potential advantage. Its supply is mathematically limited , meaning that higher demand cannot simply cause a corresponding increase in the mining of new Bitcoin. Arc 2026 research estimates Bitcoin supply growth at an annual rate of around 0.82% for the next 2 years before it declines to 0.41%.
This scarcity becomes especially important if Bitcoin continues to gain acceptance as a global monetary asset. Arc’s research also shows that Bitcoin’s correlation with gold has been relatively low, while a September 2026 market commentary says Bitcoin is finally breaking out ahead of gold. So, the bullish scenario is not simply that Bitcoin is growing due to technological advancements.
And that the technological revolution could increase demand for an asset that we believe sits at the intersection of innovation, monetary change, and portfolio diversification. And if this thesis continues to hold true, Bitcoin may have much more room to grow. But before that, get bigger payouts return to Katie Wood, who believes that Bitcoin is still far from becoming the new global monetary system.
Here is the ratio of Bitcoin to gold. Hmm, that's, uh, promising. It seems that a turnaround is imminent. Loud last words. I don't want this to sound like a big last word, but this really looks like a small breakthrough. And you know what's interesting, you can see it here: the correlation between Bitcoin and gold is very low.
Very low by historical standards. Um, and so seeing Bitcoin start to pull ahead relative to gold is very encouraging from our perspective. You know, we're big optimists about Bitcoin. This is a technological revolution. This is, uh, um, a new global monetary system, and it's the first asset of its kind in a new asset class.
So, we believe that there is still a long way to go through these three revolutions. And if we are right about inflation, the pressure on gold should be downward. I will say that we have been carefully considering Bitcoin and gold, and the insurance policies that they both provide, because we believe that this technological revolution will put many companies at risk.
And we believe that counterparty risk will arise if enough companies get into trouble. Interestingly, 200 railroad companies went bankrupt during the 1800s . So there was so much capital chasing the opportunity to invest in the railroad. We don't think that's going to happen with artificial intelligence, because the difference between then and now is that the railroads were built on hopes and prayers that a new world would develop and the revenues would eventually come.
A greater opportunity may come from the economic growth these technologies create. Wood argues that the current innovation cycle may be much more powerful than the market expects, as several major platforms are developing simultaneously. The latest Arc 2026 study continues to substantiate this argument.
The firm describes a major acceleration driven by technologies such as artificial intelligence, autonomous systems, robotics, energy, biotechnology and blockchain. Arc says these technologies could push real economic growth into the high single digits by the end of the decade. This is important because higher productivity and faster adoption of technology can change how investors value entire markets.
If blockchain becomes part of the financial infrastructure alongside artificial intelligence and other technologies, Bitcoin could benefit from something more than speculative demand. It could be part of a broader transition to digital financial systems. We can already see how Arc combines these themes.
Her current research describes Bitcoin as evolving into a global store of value as institutional ownership grows, while blockchain research indicates that stablecoins and tokenized assets are penetrating deeper into capital markets. The main question still remains about how quickly this transformation will occur .
New technologies do not automatically create instant economic growth , and markets can outperform fundamentals for long periods of time. But Wood's thesis does not require that every prediction come true immediately. The more these technologies scale, the stronger the potential case for Bitcoin as a rare digital asset nestled within this transformation becomes.
And that brings us to the chart that Wood follows most closely: Bitcoin vs. gold. If Bitcoin can continue to strengthen there, the next stage of this thesis will become much more interesting. Before we continue, same "red" windows to buy, . It seems like everything is the monthly Bitcoin chart with the number nine.
Here is the monthly chart of ETH with the number nine. True. So, a monthly chart with a nine. I mean, patterns like that don't happen often. This is true. This is true. So we just need to suspend Zcash. Let's look at the short-term version of this. I think so . We're trying, yes, trying to get to nine o'clock.
Um, so again , people don't like us saying this. We hate to say it, but patience. Nothing is happening. He's just accumulating strength, doing his thing. Liquidity is needed for this to happen. You know, I understand, I mean, another thing is that everyone is so worried about Mike Howe. And so, if we go back to that, Mike Howell was pessimistic about Nasdaq and Bitcoin because of their liquidity metrics.
True. We were optimistic about both due to our liquidity metrics, and what happened? Well, cryptocurrencies did n't do very well , but Nasdaq did really well . So, we were both right about one part of the deal, doesn't move in either direction, otherwise it would refute or confirm one of the two views, but it didn't.
So, um, I think about it this way: it's probably about this excess liquidity indicator. So let me share this. This is liquidity in excess of GDP. And excess liquidity is growing. This brings us to the force that Raoul believes could determine when the next phase of the crypto cycle truly accelerates.
Liquidity. His argument is that the fundamental picture can look optimistic for months without immediately translating into higher prices. The missing ingredient is a sufficient amount of excess liquidity flowing through the financial system. That's why he points out the unusual divergence between Bitcoin and Nasdaq.
Different liquidity indicators have led to different conclusions: some point to caution, while others support an optimistic view . Raoul's broader point is that this conflict itself shows that liquidity has not yet shifted decisively in one direction. His more recent comments continue to put excess liquidity at the center of the outlook for Bitcoin.
In September, Raul noted that global liquidity remains a key force driving Bitcoin, Ethereum, Solana, and the broader crypto market, arguing that changing liquidity conditions could be an important catalyst. The latest market data shows why this story continues to unfold. Spot Bitcoin ETFs saw inflows of $742 million in the week ending September 9, while stablecoin supply increased by approximately $713 million, indicating fresh capital inflows into the digital asset ecosystem, even amid mixed overall liquidity conditions.
Bitcoin also demonstrated resilience during a difficult September. After reaching over $82,000 earlier this month, it has pulled back but remains a significant liquid asset that attracts institutional flows. So Raoul's argument about patience is important. This thesis does not require an instant explosive increase in liquidity.
If excess liquidity continues to improve, the market could eventually gain the fuel needed to turn this consolidation period into another powerful crypto market expansion. If we combine the views of Katie Wood and Raoul, the “ bullish” forecast becomes much more ambitious than a simple Bitcoin price cycle .
They approach the market from different angles, but both point to conditions that could create stronger demand for digital assets over time. Wood sees a technological revolution accelerating in the areas of artificial intelligence, robotics, energy storage, blockchain technology, and biotechnology. Her argument is that this transformation will cause huge economic shocks, including counterparty risk, which could increase demand for assets outside the traditional financial system.
Bitcoin is central to this thesis, as it sees it as both a technological revolution and a new global monetary system. Raul is focused on what can unlock this demand. His central argument is liquidity. The crypto market can build momentum for months as investors wait for excess liquidity to build up enough to support significant movement.
When this liquidity appears, the market can react very quickly. These ideas also resonate with what is happening in the digital asset market. Institutional access has expanded with spot Bitcoin ETFs, while stablecoins continue to provide a growing pool of dollar liquidity for crypto markets. At the same time, Bitcoin continues to establish itself as a distinct asset class, rather than simply behaving like another technology stock.
The timing is what makes this especially interesting for 2026. Wood looks at a technological transformation that could radically increase the importance of blockchain and rare digital assets. Raul is watching liquidity conditions, which could determine when investors start to aggressively price this future.
If technological adoption continues to accelerate and liquidity continues to improve, two powerful forces will be working in Bitcoin’s favor simultaneously. And therein lies the larger "bullish" thesis. Technology is advancing, financial infrastructure is improving, and the liquidity cycle could eventually provide the fuel for Bitcoin’s next big move . So, .
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