Bloomberg Analyst: 'Global broad money momentum accelerates with high correlation to BTC'
CryptoNewsTerminal Staff13 Aug, 2024
Bloomberg Analyst: 'Global broad money momentum accelerates with high correlation to BTC'
Jamie Coutts, crypto market analyst at Bloomberg Intelligence, recently shared his insights on the relationship between global liquidity and Bitcoin (BTC) price action. According to Coutts, BTC has shown a tendency to bottom a few months before global broad money (M2) supply reaches its bottom. During the expansion phase, BTC typically outperforms the broader liquidity growth, only to correct mid-cycle. Coutts highlights that global liquidity momentum has begun to accelerate, coinciding with a post-spot BTC ETF launch market environment that's less frothy and with reduced leverage. This suggests the potential for a continued correlation between global liquidity trends and BTC performance in the coming months.
