Chart shows BTC (chart - LOG) divided by the FED M1 Money Supply (Orange LOG). M2 at this stage appears it may 'need' to travers back to it's mean progression line (Orange - dashed) before supplying liquidity back to the market for more BTC increases.
This narrative time wise works with the idea we may have our sluggish Q3 and Q4 (into BTC halving year) before we can launch into the next more bullish phases of BTC cycle post the halving (as per prior cycles).
* It is noted this is the first time in BTC's history we have see a reduction in M2 od this magnitude.
* Grey Bars show US Recessions.
This narrative time wise works with the idea we may have our sluggish Q3 and Q4 (into BTC halving year) before we can launch into the next more bullish phases of BTC cycle post the halving (as per prior cycles).
* It is noted this is the first time in BTC's history we have see a reduction in M2 od this magnitude.
* Grey Bars show US Recessions.