Bitcoin Price Deviates From Global M2 Money Supply, Is The Bull Run Over?
Bitcoin price has deviated from the global M2 money supply, raising concerns about the sustainability of the current bull run. Analyst Colin noted that such deviations are typically short-term and do not invalidate the overall macro trend. He emphasized that non-correlation occurs 20% of the time and that the M2 money supply is directionally predictive for Bitcoin, with 80% accuracy regarding market direction, though it does not predict specific prices. Colin suggested that the cycle top is not yet reached and the bull run continues. Market expert Raoul Pal indicated that Bitcoin's price action is largely influenced by global liquidity, implying current geopolitical risks may have minimal impact. Trading firm QCP Capital observed that Bitcoin shows resilience, supported by institutional accumulation and positive ETF flows. Bitcoin is currently trading at approximately $104,700.
