Bitcoin Poised to Surpass $110,000 Amid Global M2 Money Supply Correlation
Bitcoin's price is on track to potentially exceed $110,000, driven by a strong correlation with the Global M2 Money Supply. Crypto analyst Colin, known as 'The M2 Guy,' has highlighted this trend, noting a high correlation when data is offset by 68 to 76 days. His analysis reveals that Bitcoin's price movements have closely mirrored the trajectory of the Global M2 Money Supply, with correlation values reaching up to 92.2% over extended periods.
This correlation underscores Bitcoin's sensitivity to global liquidity trends, particularly in relation to Spot Bitcoin ETFs. The upward trend in the M2 curve suggests a bullish outlook for Bitcoin, potentially leading to a new all-time high. Currently, Bitcoin is trading at $106,549, marking a 1% increase in the last 24 hours.