Michael Howell Says Global Liquidity Shapes Bitcoin’s Outlook

Michael Howell of CrossBorder Capital frames Bitcoin’s market behavior around global liquidity. He called Bitcoin “the most liquidity sensitive asset on the planet by far.”

Howell also connects Bitcoin and gold to monetary inflation. He favors a basket containing both assets and weighted by volatility, with Bitcoin’s share potentially increasing as institutional participation grows. He described an equal split as a possibility over time.

The discussion ranges across rising bond yields, the AI trade and the real economy, and what a flattening yield curve signals about the liquidity cycle. It also covers the U.S. debt maturity wall and Treasury QE as a way of monetizing government debt.

Other topics include China’s bond market and yuan, Bitcoin’s place alongside equities in a debt-monetization environment, and money-market liquidity in relation to Kevin Warsh. Howell also flagged $70,000 as a key support level for Bitcoin.