Raoul Pal: Deflationary Nuclear Bomb by 2030

Raoul Pal sees wages flat despite growth and hiring stalled as the first clear deflationary signal, with electricity bottlenecks and healthcare costs both temporary before AI and robotics clear them.

The Global Macro Investor founder told Michaël van de Poppe that liquidity remains the missing gasoline and that higher rates this time do not end the cycle, framing the pause as an elongated 2020-style mid-cycle correction.

Bitcoin trades at $75722.78 inside its Bollinger band on the 4h chart with EMA50 at $78163.02 and EMA200 at $80635.07 acting as stacked resistance while MACD prints a death cross at -595.38 and RSI sits neutral at 37.23; price therefore tests lower-band support near $74131.64 before any sustained attempt to reclaim the 50-EMA confluence.