Bitcoin Market Cap / Global M2 Ratio has been marking Bitcoin price tops with impressive accuracy. And the trendline makes this very clear. Currently, Bitcoin’s market cap represents only 0.94% of Global M2. This means that even after multiple cycles, ETFs, institutional adoption, and more than 15 years of history, Bitcoin has still captured less than 1% of global monetary liquidity. But here is the key point: At the last major top in October 2025, Bitcoin represented exactly 2% of Global M2. In other words, this ratio helps us understand when Bitcoin is becoming overheated relative to global liquidity, and when it is losing monetary share again. It is a simple, visual, and powerful way to analyze the relationship between the crypto market and global monetary policy. Liquidity drives cycles. And this chart helps reveal where Bitcoin stands inside that cycle.