Bitcoin Bull Run Poised for Boost as Global Liquidity Hits Record $94 Trillion

cryptonews.com:

Bitcoin’s ongoing bull run may receive a significant boost as global liquidity reaches a new all-time high.

According to a new analysis by Philip Swift, creator of the on-chain data platform LookIntoBitcoin, global liquidity has surged to a record $94 trillion, setting the stage for potential further upside in BTC prices.

The most important chart for this bull run has just made a new all-time high.

Are you ready?#bitcoin pic.twitter.com/hZsF6ljsvR

— Philip Swift (@PositiveCrypto) June 5, 2024

On June 5, Philip Swift published an analysis highlighting that global liquidity, measured by the world’s M2 money supply, has hit an all-time high. In U.S. dollar terms, M2 is now at $94 trillion, surpassing the previous peak and standing $3 trillion higher than when Bitcoin achieved its former all-time high of $69,000 in late 2021.

Experts claim this rebound represents a significant recovery from the local lows of $85 trillion seen in late 2022, which coincided with the depths of the crypto bear market.

Swift’s analysis stressed the critical role of global liquidity trends in influencing Bitcoin and crypto markets. He notes that the current conditions are highly favorable for BTC price appreciation and references sentiments from other liquidity-based analyses that predict bullish Bitcoin outcomes.

In one of his comments on X, Swift emphasized the significance of the new all-time high in global liquidity; he said,

“The most important chart for this bull run has reached an all-time high. Are you ready?”

This bullish outlook aligns with other findings suggesting that Bitcoin’s price behavior is closely tied to trends in global liquidity.

As financial conditions become more favorable, there is growing evidence of increased