Matrixport's daily chart analysis says that since November 2023, the money supply indicator has been highly consistent with bitcoin's price movement, reflecting a weaker dollar and expectations of an expansion in global liquidity. While this correlation is a useful signal, it is more of a proxy indicator of market sentiment than a reliable driver. However, it still points to the possibility of further gains in bitcoin, although history shows it is cyclical.
With the Federal Reserve expected to cut interest rates, if Powell releases dovish signals and hints at further rate cuts, the dollar could weaken, which would boost liquidity and support bitcoin prices.
Matrixport: Money supply indicators suggest more upside for Bitcoin
2025-09-17 07:03:58
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