According to Foresight News, Real Vision founder Raoul Pal recently tweeted that 90% of Bitcoin's price volatility is driven by liquidity factors. In comparison, the Nasdaq 100 Index experiences a 97% influence from liquidity. The remaining fluctuations are attributed to market acceptance, which refers to the degree of application and adoption. Pal emphasized that the relative performance of tokens or stocks is largely determined by verifiable network effects, indicating the importance of market acceptance and application prevalence.

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