**Debt Cycle Drives the Next Cryptocurrency Bull Market? Raoul Pal Reveals Investment Opportunities in 2026**
At the Solana Breakpoint conference, Raoul Pal, co-founder and CEO of Real Vision, shared a highly insightful perspective: the rise and fall of cryptocurrencies are not driven solely by the 4-year Bitcoin halving cycle, but are controlled by a larger macro force—the debt maturity cycle.
**Global Debt Dilemma: Why Currency Devaluation Is Unavoidable**
The root of the problem lies in demographic structure. As global labor participation rates decline and the employed population continues
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