Crypto analyst Willy Woo has cautioned that the assumption of M2 money supply growth driving Bitcoin prices higher may be misguided. Speaking on December 2, 2025, Woo highlighted that Bitcoin often precedes M2 trends in the latter stages of its cycle, suggesting the market may have already peaked based on current inflow and outflow models. Woo further explained that despite the Federal Reserve's interest rate cuts and increased money printing, a scenario where global investors favor the dollar over risk assets could lead to a stronger dollar and a decline in global M2. This dynamic could impact Bitcoin's trajectory, challenging the notion that increased money supply will automatically boost its value.