Global M2 liquidity just printed a new all-time high.
$BTC hasn't fully caught up yet — this rally might be early innings.
When liquidity expands this much, risk assets typically lag by a few weeks before the real move starts. We've seen this pattern in 2020-2021 and again in late 2023.
The macro backdrop is setting up. If liquidity keeps flowing and $BTC is still consolidating around these levels, the asymmetry looks interesting.
Not saying it's guaranteed, but the liquidity-to-price transmission usually works with a delay. Worth watching how this unfolds over the next 4-8 weeks.
$BTC hasn't fully caught up yet — this rally might be early innings.
When liquidity expands this much, risk assets typically lag by a few weeks before the real move starts. We've seen this pattern in 2020-2021 and again in late 2023.
The macro backdrop is setting up. If liquidity keeps flowing and $BTC is still consolidating around these levels, the asymmetry looks interesting.
Not saying it's guaranteed, but the liquidity-to-price transmission usually works with a delay. Worth watching how this unfolds over the next 4-8 weeks.
