Delphi Digital 2026 Outlook: Liquidity Inflection Point Expected to Drive Bitcoin and Gold Higher

According to Mars Finance, Delphi Digital's latest "2026 Market Outlook" report points out that despite the depressed sentiment in the crypto market, the macroeconomic environment is converging rather than diverging, with global central banks beginning a rate-cutting cycle. The Federal Reserve has ended quantitative tightening, and the federal funds rate is expected to fall below 3% by the end of 2026, potentially improving global liquidity. The report emphasizes that gold prices breaking new highs reflect an accelerating currency depreciation trend, with central banks having purchased over 600 tons of gold in 2025 and expected to continue increasing their holdings at a rate of 70 tons per month in 2026. Meanwhile, the massive US fiscal deficit (US$1.5-2 trillion annually) is squeezing liquidity in the money market, putting pressure on the US Treasury market. Analysts believe that with improved liquidity, inflation-hedging assets such as Bitcoin will benefit, but the market will not see a repeat of the "liquidity hydrant" level of easing seen in 2020-2021.