An expert analyst and founder of WeRate recently suggested that Bitcoin price has no top, amid correlation with rising global liquidity.
Bitcoin’s price has demonstrated notable fluctuations over the past week, with values ranging between $81,000 and $88,000. The asset experienced a downward trend, followed by a recovery on April 1, which saw the price briefly surpass $85,000 before retreating to $84,000.
This volatility is a product of the ongoing uncertainty in the market, but the overall trend has been positive, with Bitcoin gaining 1.3% in the last two weeks. Despite the short-term fluctuations, macroeconomic factors reveal a silver lining for Bitcoin’s future.
Bitcoin and Global M2 Money Supply Correlation
Notably, a recent analysis from weRate founder Quinten Francois has drawn attention to the correlation between Bitcoin’s price and the Global M2 Money Supply. Global M2 Money Supply refers to the total amount of money circulating in the global economy, including both physical currency and more liquid forms of money.
This comparison, spanning from December 2023 to March 2025, showcases the rising trend of Bitcoin’s value alongside the increase in global liquidity. Bitcoin’s price surged from about $40,000 in December 2023 to above $100,000 by 2025.
Global money supply has no top
Bitcoin has no top pic.twitter.com/avjoV4e9KA
— Quinten | 048.eth (@QuintenFrancois) April 1, 2025
Meanwhile, the global M2 money supply rose steadily from $100 trillion to around $108 trillion by December 2025. Central bank policies globally have consistently injected liquidity into the economy, which aligns with Bitcoin’s upward trajectory.
Notably, there is no limit to the global money supply growth, as it continues to expand as long as fresh liquidity injection persists. Quinten suggests that, as Bitcoin persistently follows the M2 money supply growth, which has no limit, the firstborn crypto would also have no actual price top.
Global Liquidity Trends Since 2014
Elsewhere, another analysis, conducted by Coinvo, confirms the correlation between Bitcoin’s price and global M2 money supply. The data reveals a consistent pattern where Bitcoin’s value rises alongside global liquidity growth, corroborating Quinten’s findings.
Since 2020, particularly, Bitcoin has shown significant price increases that correspond with surging liquidity, driven by monetary policies like quantitative easing.
The chart illustrates a clear correlation between the two, suggesting that if global liquidity continues to grow, Bitcoin’s price may also experience similar upward momentum.
Bitcoin Hash Ribbons Buy Signal
In addition to global liquidity trends, another indicator on the radar is the Bitcoin Hash Ribbons Buy Signal. According to Master of Crypto’s chart, the technical indicator has historically been reliable in signaling bullish movements for Bitcoin.
#Bitcoin Hash Ribbon Buy Signal just triggered.
One of the most powerful and consistent signals in $BTC's history.
Every past signal was followed by a major move up.
Don’t fade it. History says what comes next could be big. pic.twitter.com/3v0PA4n7v4
— Master of Crypto (@MasterCryptoHq) April 1, 2025
Previous buy signals have preceded substantial price gains, with the last three signals resulting in price increases of 63%, 63%, and 120%, respectively. The most recent signal has sparked expectations of further price appreciation, with the analyst predicting that BTC could reach $110,000 in the next cycle. Currently, Bitcoin trades for $85,022, up 0.85% in the past 24 hours.
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