Update on the $BTC Market Cap / Global M2 Ratio:
The ratio has now lost an important support level, showing that Bitcoin has not been expanding relative to Global M2.
In other words, BTC is currently losing monetary share against global liquidity.
This does not mean the ratio will keep falling forever. At some point, this relationship should stabilize again.
However, based on the current structure, this process may still take time, potentially a few more months.
For now, Bitcoin still needs to prove strength against global monetary liquidity.
Liquidity drives cycles.
The ratio has now lost an important support level, showing that Bitcoin has not been expanding relative to Global M2.
In other words, BTC is currently losing monetary share against global liquidity.
This does not mean the ratio will keep falling forever. At some point, this relationship should stabilize again.
However, based on the current structure, this process may still take time, potentially a few more months.
For now, Bitcoin still needs to prove strength against global monetary liquidity.
Liquidity drives cycles.