Global liquidity conditions are hitting fresh records, and we're seeing rare metals surge to all-time highs alongside it. Meanwhile, institutional players and major economies continue accumulating assets, while the new Federal Reserve chair signals openness to interest rate cuts going forward. These converging factors paint an interesting picture for 2026.

Historically, periods of monetary expansion and peak liquidity tend to correlate with strong risk-asset performance. To put this in perspective, during the 2020 COVID stimulus era, Bitcoin was trading around $6,000—well before the subsequent rally. Now with multiple tailwinds aligning—expanding money supply, institutional adoption, and dovish policy signals—the setup for next year looks notably different from recent cycles.