Crypto Faces Liquidity Endgame—Debt And Inflation Risks Mount By 2026

Raoul Pal’s latest “Journey Man” episode brings back Michael Howell, CEO of CrossBorder Capital, for a sweeping tour of the liquidity landscape that has propelled risk assets like crypto for nearly three years. Both agree the global liquidity cycle is “late,” still advancing but increasingly mature, with its eventual peak most likely pushed into 2026 by policy engineering, bill-heavy issuance, and rising use of private-sector conduits. The investment implication running through the conversation is unambiguous: long-duration assets—crypto and technology equities—remain the primary beneficiaries of ongoing currency debasement, yet the endgame is now visible on the horizon as a wall of debt refinancing and inflation risk approaches. How Long Will The Liquidity Cycle Push Crypto Higher? Howell’s high-level assessment is stark source: https://www.newsbtc.com/news/crypto-liquidity-endgame-risks-mount-by-2026/