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Macro strategist Raoul Pal says the Bitcoin (CRYPTO: BTC) pullback reflects rational capital rotation, not abandonment.
Why Retail Rotated Out Of Crypto
Speaking with Milk Road host LG Doucet, Pal argued that retail investors haven’t turned against crypto permanently. Instead, they’ve temporarily moved capital elsewhere.
Pal described much of crypto retail as the “Robinhood crowd,” younger, risk-tolerant investors comfortable with volatility and speculation.
Most of the retail participants are highly opportunistic and they rotate toward whatever is outperforming. The recent crypto drawdown pushed some toward gold and silver, according to Pal.
He noted that since 2020, Bitcoin has…
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