Bitcoin, Ethereum, XRP Have Hit 'Final Low', Raoul Pal Says: 'Do Nothing' To 'Make It' In Bullish 2026

Real Vision CEO Raoul Pal says the crypto market has likely hit its “final low” and urges investors to “do nothing” but hold as a massive wave of global liquidity prepares to hit markets in 2026.

What Happened: In a recent interview on the When Shift Happens podcast, Pal reinforced his “Everything Code” thesis, arguing that the recent correction was a necessary clearing event before the next leg up.

Pal argues that retail investors lose money by over-trading or using leverage during volatility and would be better advised to follow a two-pronged “do nothing” strategy:

• The Minimum Regret Portfolio: Pal advocates for a concentrated bet on major Layer-1 blockchains rather than chasing memecoins. “Layer-1s won’t go to zero in one cycle,” Pal noted.

• The 5-Year Cycle: Contrary to the popular 4-year halving theory, Pal argues this cycle extends into 2026 due to debt rollovers. “Liquidity really is required in 2026 because we’ve got $10 trillion to roll.”

Instead of focusing on majors like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) or XRP (CRYPTO: XRP), Pal remains “massively overweight” on Sui (CRYPTO: SUI).

Using Metcalfe’s Law models regarding active users and stablecoin flows, Pal estimates Sui is approximately 80% undervalued compared to Solana (CRYPTO: SOL).

He acknowledges the ecosystem relies on Mysten Labs proving adoption, but views the risk/reward as convex.

Why It Matters: Pal points to upcoming banking regulation changes as a silent signal that the Fed and Treasury are preparing to flood the system.

New rules allowing banks to hold Treasuries with lower risk weighting could unleash unlimited purchasing power.

Pal argues that fiscal stimulus, such as President Donald Trump‘s much-touted “no tax on tips,” and expansionary monetary policy in China could combine for a “perfect storm” for risk assets.

One overlooked beneficiary of such a development may be privacy coins like Zcash (CRYPTO: ZEC).

Still, Pal warns of “renting conviction” from prominent backers and stated that he is waiting for ZEC to form a “higher low” and prove the trend isn’t just a rotation of capital before allocating.

What’s Next: Pal predicts the total crypto market cap will reach $100 trillion over the next decade.

For 2026, his thesis is simple: the liquidity that was drained in late 2025 is coming back with a vengeance.

“We’re 3% of the way there,” Pal stated. “Just don’t get shaken out.”

Read Next:

• Cardano’s Hoskinson Says ‘Time to Get Cooking’ With Solana: Is A SOL-ADA Cooperation Coming?

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