Global liquidity keeps rising, but Bitcoin $BTC still hasn't followed the same path.
That's what stands out to me right now.
The Global M2 Liquidity Index is at fresh highs, while Bitcoin remains below its recent peak after the correction we've seen in recent weeks.
Many people focus only on Bitcoin's price action, but I like to pay attention to liquidity first.
In the past, growing liquidity has often created a positive environment for risk assets, including Bitcoin.
This doesn't mean BTC has to rally immediately, and it doesn't guarantee we've seen the bottom.
What it does suggest is that the broader macro environment is becoming more supportive, even though Bitcoin hasn't fully reflected it yet.
Sooner or later, Bitcoin may start catching up with liquidity, or we'll see a rare shift in a relationship that has held up for years.
Definitely a trend worth keeping an eye on.