COINOTAG News notes that Delphi Digital’s 2026 Market Outlook frames a macro regime shift from differentiation to convergence. Major central banks are shifting toward rate cuts as fiscal deficits lift liquidity demand. With the Federal Reserve‘s quantitative tightening likely ending, the Treasury General Account may decline, and the People’s Bank of China‘s support adds to 2026 liquidity prospects.

Liquidity conditions may not reach 2020 heights, yet a clearer and more predictable easing path is emerging as central banks align and deficit spending tightens debt monetization. Rising M2 alongside a stronger gold price underscores currency depreciation, with Bitcoin likely to benefit when liquidity favors risk assets.

For asset managers, this environment calls for data-driven positioning, disciplined risk controls, and a focus on credible catalysts. While gold may lead, Bitcoin and select crypto assets could capture liquidity-driven upside should the easing trajectory materialize and policy coordination hold.