Former Goldman Sachs executive Raoul Pal forecasts Bitcoin could rally to $140,000, driven by improving global liquidity conditions expected to peak around Q1 2026. He highlights macroeconomic factors such as regulatory changes enabling banks to hold more government debt, Treasury General Account dynamics, a weakening US dollar, and China's liquidity expansion as catalysts for this move. Pal believes recent structural market disruptions have suppressed Bitcoin's price but anticipates that once these overhangs dissipate, a rapid upward repricing will follow.

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