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**Bitcoin vs. Global M2 Money Remains Bullish to Push Price to New ATH Above $100,000**
The recent market fluctuations have sparked debates among crypto enthusiasts and analysts alike. One crucial aspect that has garnered significant attention is the correlation between Bitcoin’s price movement and global M2 money supply. Colin of CryptoTutorials recently pointed out that markets can deviate 20% of the time due to mathematical correlation, emphasizing the need to zoom out and account for this non-correlated period.
In a remarkable turnaround, Titan of Crypto suggests that a Bitcoin momentum flip might be taking place, with the LMACD displaying a clear shift in momentum and weekly chart price action showing strength. This development could potentially lead to BTC reclaiming $90,000. The analyst also noted that momentum and structure are aligned, adding credence to this bullish outlook.
Another crucial indicator is the weekly Relative Strength Index (RSI) breaking its trendline, which Titan of Crypto believes marks a key shift in momentum. As a result, he predicts a major breakout on the horizon for Bitcoin’s price.
In light of these developments, it appears that the analysis suggests a more optimistic view regarding the relationship between global M2 money supply and Bitcoin’s price movement.
Source: https://bitcoinist.com/bitcoin-vs-global-m2-bullish/
