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Global liquidity nears $100 trillion: Bitcoin bull run’s ‘most important chart’ hits new all-time high

Global liquidity nears $100 trillion: Bitcoin bull run’s ‘most important chart’ hits new all-time high

Global liquidity has surged to nearly $100 trillion, fueling bullish expectations for the Bitcoin (BTC) market. 

This unprecedented level of liquidity is seen as a significant boost to Bitcoin’s ongoing bullish rally, with the cryptocurrency now trading at $71,000.

A recent analysis by Philip Swift, creator of the on-chain data platform LookIntoBitcoin, reveals that the global M2 money supply stands at $94 trillion — the highest ever recorded.

M2 vs BTC price. Source: Philip Swift/X

This figure is $3 trillion more than when Bitcoin hit its previous all-time high of $69,000 in late 2021.

Since bottoming out at $85 trillion in late 2022, M2 has rebounded by 10%, marking a significant recovery from the lowest point of the crypto bear market

Swift’s platform tracks the global M2 money supply and its relationship with Bitcoin price trends. He emphasized the importance of this milestone on X (formerly Twitter), stating: 

“The most important chart for this bull run has just made a new all-time high.” 

This record in global liquidity suggests a strong correlation between increased liquidity and Bitcoin’s price trajectory, indicating that the surge in M2 money supply could further fuel Bitcoin’s bullish momentum.

Bitcoin’s resilience and future prospects

Bitcoin has demonstrated notable resilience, revisiting the $70,000 price level amid positive macroeconomic indicators and heightened market optimism. 

With $1 billion being added daily to new whale wallets, Bitcoin could be on the verge of another significant price movement.

Despite minor setbacks since May 2021, Bitcoin’s overall trend remains bullish. CryptoQuant founder and CEO Ki Young-Ju highlighted similarities to mid-2020, where stable prices were accompanied by high on-chain activity, indicating robust market health.

The BTC versus U.S. M1 money supply metric is also in the process of breaking out from a seven-year consolidation period — the longest in Bitcoin’s history, as reported by Finbold. 

This breakout is seen as a critical development that could ignite a parabolic surge in Bitcoin’s price, similar to past bull markets. 

Additionally, U.S. Bitcoin spot ETFs  saw their second-best-ever joint net inflow day of $886.6 million on June 4, reflecting growing institutional interest and confidence in Bitcoin as a valuable asset class.

Furthermore, the Puell Multiple indicator, which assesses Bitcoin’s value relative to mining activity, has entered a “discount range,” suggesting that Bitcoin might be undervalued. 

This often signals a good buying opportunity for investors expecting future price gains. CryptoQuant researchers believe the market may be entering a new phase of scarcity, preparing for a potential rally. 

BTC price analysis

With Bitcoin currently trading at $71,284, up 0.7% for the day and advancing 14% on its monthly chart, market sentiment remains optimistic for potential future rallies.

BTC 7-day price chart. Source: Finbold

The substantial global liquidity, combined with increasing whale activity and institutional investments, sets the stage for a potential surge in Bitcoin’s price. 

Overall, Bitcoin is getting green lights from all angles, indicating a robust and potentially lucrative period ahead for investors.

While the overall sentiment leans bullish, it is important to exercise caution and consider other factors before making investment decisions in Bitcoin’s volatile market.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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