Bitcoin’s current trading range is all part of a consolidation move before a return above $110,000. Although the leading cryptocurrency has largely held above the $105,000 support zones in recent days, its rally has taken a hit in the past two weeks. Technical analysis of Bitcoin’s price action, when overlapped with the Global M2 Money Supply metric, shows that it is only a matter of time before it enters into a new all-time high. Global M2 Offset Models Says Something Interesting According to a detailed post by crypto analyst Colin, also known as “The M2 Guy,” on the social media platform X, Bitcoin’s price action appears to be tracking the global M2 money supply with a high degree of correlation when the data is offset by 68 to 76 days. Related Reading: Bitcoin Bears Back In Control After $110,000 Rejection, What Comes Next? Two separate charts presented by Colin reveal this trend vividly, showing how Bitcoin price movements have followed the trajectory of the Global M2 Money Supply when adjusted for time. The short-term 68-day offset chart aligns clos ..
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