In a video titled “The Macro Outlook for 2025: BIG Moves Ahead,” Julien Bittel, Head of Macro Research at Global Macro Investor (GMI) laid out a sweeping perspective on where growth and inflation trends appear to be heading, why the upcoming cycle looks more akin to 2017 than 2021, and how Bitcoin could be primed for notable upside if its historical relationship with the Institute for Supply Management (ISM) Index and global liquidity holds true. Forcast: Bitcoin Macro Summer Is Coming Bittel explained that macro “summer” is the dominant regime he sees unfolding throughout 2025, meaning growth momentum is picking up while inflation remains modest enough for central banks to avoid overtightening. He underscored that “the business cycle still chugs along,” pointing to improving global manufacturing data and to the fact that more countries have been shifting into expansion territory. Although slight fluctuations persist in some indicators, including pockets that briefly resemble a slowdown, Bittel remains confident that these do not mark the onset of a new macro “fall” with sustained growth deceleration and rising inflation. He instead suggests these headwinds ..
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