$BTC : EVEN MONEY ITSELF IS LOSING VALUE IN BITCOIN TERMS.

Price the entire U.S. money supply in Bitcoin:

U.S. M2: β = -5.181
OECD U.S. M3 proxy: β = -5.188
Both fits: R² ≈ 0.953

The direction is unmistakable:

It takes fewer and fewer BTC to buy the entire money stock.

That is the deeper monetary point.

The dollar supply keeps expanding.

Bitcoin’s supply does not.

So when you change the denominator from dollars to BTC, even the money supply itself trends toward zero.