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Delphi Digital Outlook 2026: Bitcoin Poised to Rise in a Liquidity-Fueled Environment

2025.12.19 10:49:55

On December 19, Delphi Digital said in its 2026 Market Outlook Report that the global macro environment is shifting from differentiation to convergence, as major central banks pivot to rate cuts and fiscal deficits lift liquidity demand. With the Federal Reserve’s quantitative tightening (QT) nearing its end, the Treasury General Account (TGA) likely to decline, and the People’s Bank of China (PBOC) ramping up support, global liquidity is expected to improve in 2026. Notably, the market won’t see 2020-level liquidity, but conditions now support a clearer, more predictable easing pace. Major central bank policies are starting to align, and deficit spending is driving greater debt monetization, the report added. The report also noted that global M2 hitting new highs alongside gold prices—plus ongoing central bank gold purchases—points to a continued currency depreciation trend. Historically, Bitcoin and similar assets tend to benefit when gold outperforms Bitcoin on liquidity metrics.
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