Real Vision’s head crypto analyst Jamie Coutts says that during the last two years, about $1.1 trillion of the world’s money supply has been fed into Bitcoin (BTC) and other assets. In a new thread on the social media platform X, Coutts tells his 29,200 followers that the crypto king blossomed after the M2 money […]
The post $1,100,000,000,000 of New Global Money Supply Injected Into Bitcoin and Other Assets in Two Years: Jamie Coutts appeared first on The Daily Hodl.
Bitcoin options and futures markets display moderate optimism after a new BTC all-time high, which could be indicative of new price highs.
Bitcoin (BTC) surged by 10.5% to hit a new all-time high at $75,350 from Nov. 5 to Nov. 6 following former US President Donald Trump's win in the 2024 election.
Despite the recent price fluctuations, the market is demonstrating a strong foundation that supports continued growth. Bitcoin derivatives highlight the robust improvement in sentiment and the absence of excessive leverage, which are essential for gains above $75,000.
Bitcoin 2-month futures annualized premium. Source: Laevitas.ch
Bitcoin struggles to overcome the $64,000 resistance as investors choose to invest in stocks and seek shelter in cash options amid socio-political uncertainty.
Bitcoin (BTC) has been unable to sustain levels above $66,000 since July 31, despite achieving a 5.2% gain between Oct. 3 and Oct. 7. Some analysts assert that Bitcoin benefits from the ever-growing United States federal debt; however, while this correlation appears valid, it has minimal influence on short-term price trends.
In reality, socio-political events seem to be the primary driver of Bitcoin’s limited upside, considering that the global monetary base (M2) has expanded from $104 trillion in June to $108 trillion in October, while Bitcoin was rejected multiple times at the $68,000 resistance level. This suggests that the rally to $64,000 is unlikely to be rooted in the US fiscal situation.
Bitcoin/USD vs. global monetary base (M2, billion). Source: TradingView
Bitcoin’s monthly close could reverse a 6-month-long downtrend and signal traders’ intent to push BTC price to new highs.
Bitcoin (BTC) price is on the verge of a notable trend change in its weekly and monthly timeframe chart. On both timeframes, a close above $65,000 sets a higher high and breaks the trend of lower highs which has defined BTC’s price action fo the past 6 months.
BTC/USDT weekly chart. Source: TradingView
Prior to this week’s rally above $66,000, the crypto market had been suffering from narrative exhaustion but a new set of catalyst have led traders to believe Bitcoin price is ready to embark on the next leg higher.
According to Michael van de Poppe, an upcoming surge in global liquidity, fueled by debt refinancing, could trigger the next Bitcoin bull run.
A notable market analyst believes the cryptocurrency and commodities markets could both be ahead of a parabolic rally.
This is because both crypto assets and commodities remain “extremely undervalued,” according to analyst and entrepreneur Michaël van de Poppe.
The analyst noted in a September 15 post on X that commodities were last valued at similar levels in 2000 and 1971.
The chief crypto analyst at Real Vision says the global money supply (M2) metric is showing a “perfect” scenario for Bitcoin (BTC). Jamie Coutts says on the social media platform X that a historical relationship between Bitcoin and M2 suggests that the flagship cryptocurrency is in the midst of a consolidation phase while an increase […]
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Bitcoin offers a modest BTC price comeback after hurtling toward $60,000 in step with stocks worldwide.
Bitcoin (BTC) sought to reclaim $62,000 on Aug. 3 as markets inched higher after a fresh liquidation cascade.
Data from Cointelegraph Markets Pro and TradingView showed a 3% BTC price rebound taking shape after fresh multi-week lows of $60,435 on Bitstamp.
These accompanied a grim day for stocks worldwide, with the Nikkei’s 6% drop setting the scene for more losses on Wall Street. United States employment data, which fell far short of expectations, exacerbated the sense of panic.
Bitcoin price shows strength as investors expect the Fed to resume printing, but a handful of global macroeconomic headwinds are still in play.
Bitcoin (BTC) last closed above $68,000 on April 11, despite trading above $67,000 several times in the past five days. Even as Bitcoin gained 2% on May 20, another 7% move is needed to meet its all-time high. Meanwhile, gold reached a record high of $2,450 on May 20, and the S&P 500 index climbed to its all-time peak of 5,325 points. This backdrop has left BTC investors pondering the factors restraining its progress.
It can be argued that Bitcoin’s 51% gains year-to-date reflect investors’ anticipation of the monetary expansion that has recently benefited other assets. With the United States Federal Reserve needing to inject liquidity — either to support the troubled banking sector or to stimulate the economy — investors typically turn to scarce assets for protection. This inclination intensifies if there is an increasing likelihood of an economic recession.
According to UFed data, the broader U.S. monetary base (M2), which had stagnated at $20.8 trillion since May 2023, surpassed $21.0 trillion in April 2024. This shift marks the end of a contraction period that began in April 2022 when the M2 indicator reached $22 trillion. Regardless of interest rate trends, the increase in circulating money suggests rising inflationary pressures, even if companies and individuals are currently hesitant to spend.
Yuga Labs, the creators of the popular Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Bored Ape Kennel Club (BAKC) non-fungible token (NFT) collections, has released another video clip showcasing the Otherside metaverse. The second Otherside trailer features characters called “Kodas” and the development team says “the story continues later this Q4.” […]
Following the introduction of the Otherside metaverse and the apecoin (APE) launch, Yuga Labs, the creators of the Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs), published the Otherside’s litepaper. The team says the “document serves as a starter guide for the Otherside, [and] it covers foundational principles of the platform, capabilities of its developers, […]