Raoul Pal Stays Bullish on Crypto Through 2026, Names Top Coins to Watch

When asked at a recent event where crypto markets are heading by the end of 2026, veteran macro investor Raoul Pal did not hesitate. He is still bullish, and his conviction has not changed.

“I still feel it will continue positively till the end of 2026, maybe 2027,” Pal said.

Bitcoin is trading around $81,500 at press time, the broader crypto market cap is sitting at $2.7 trillion, and the Fear and Greed Index is at a neutral 51.

The Coins Pal Is Watching in 2026

When pressed on which specific assets he believes will perform well this cycle, Pal named three that stood out.

“I’m still focused on SUI. ZCash is interesting. TAO is interesting. I still think ETH and SOL should do super well as well,” he added.

Bullish Into Year End, With One Major Caveat

In a separate interview, Pal elaborated on the broader outlook. He described liquidity as accelerating and said he is “really quite bullish into year end.” But he was equally clear about the one scenario that could unravel everything: the Iran situation.

“The only thing I can see that’s the problem is if this Iran war doesn’t go the way we think, which is it gets solved,” he said. “If it doesn’t get solved and oil goes to $200 a barrel, it’s going to get pretty ugly.”

Oil at that level would hammer global economic growth and hurt financial markets broadly; while the US might absorb some of the pain through its own energy exports, Europe and the rest of the world would feel it far more severely.

Where Does Bitcoin End the Year?

Asked directly for his year-end Bitcoin call, Pal gave the kind of honest, nuanced answer that has built his reputation.

“Bitcoin can touch high 90s, but I think we go down from here in the short term,” he said. “I think it’s going to be a really bumpy year.”

His base case is that Bitcoin makes higher highs from here, but he does not expect the move to happen in a straight line. Markets are sideways and choppy. Liquidity is growing by his measures, but not accelerating at the pace needed to drive a vertical move.

Related: Why is Bitcoin’s Bull Run Delayed in 2026? Grok, Claude, Gemini, ChatGPT, and Perplexity Explained