B3bit
06/17 09:16Бычий
Forget the price charts. Here's how bitcoin and S&
#World Cup Predictions: 100,000 USDT Daily #BTC Prophet: 20-Day 380 Million HTX Challenge #HTX Creation Challenge — Post and Win 1,500U 💥 Forget the price charts. Here's how bitcoin and S&P 500 look like when adjusted for the money printer
Valuations shaped by M2 money supply growth paint reveal concerning trends for risk assets.
f you're only looking at the dollar price of your portfolio, you may be missing part of the picture, which is significantly shaped by money supply growth.
To the casual observer, the markets look like business as usual. While bitcoin has nearly halved to $66,000 since its $126,000 peak in October of last year, the decline could be dismissed as just another brutal, quadrennial crypto bear market. Meanwhile, the S&P 500 continues to hover near record highs.
But beneath the surface, a more interesting signal emerges when both prices are adjusted for the U.S. M2 money supply. M2 is the Federal Reserve's estimate of liquid assets, including cash on hand, money deposited in checking and savings accounts, and other short-term saving vehicles such as money market funds and certificates of deposit.
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