TechFlow, Sept 17 — Matrixport released a chart today showing that since November 2023, money supply has moved in high synchronization with Bitcoin's price trend, indicating rising expectations of global liquidity expansion against the backdrop of a weakening dollar.
This synchronization stems more from market sentiment than causal drivers. Although the indicator still points to upside for Bitcoin, its cyclical nature limits its reference value. Nonetheless, this signal remains consistent with our overall bullish outlook.
As markets anticipate Fed rate cuts, if Powell delivers dovish signals and hints at further easing, the dollar is likely to weaken and liquidity will improve, thereby supporting Bitcoin's price.
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