Thanks, great report. One thing: You mention the correlation between BTC and global M2 is 0.94 but don't say how you came to that number? I'm interested in what method was used here.
I collaborated with Sam Callahan to analyze bitcoin’s correlation with global broad money supply.
The result was that it had higher directional correlation to money supply than other asset classes, at 83%.
We also looked at indicators for when bitcoin is more likely to deviate from liquidity. In other words, what’s usually going on in that other 17%. The answer, generally, is that the asset is coming down after major periods of extreme sentiment.
You can check out the full report here:
https://www.lynalden.com/bitcoin-a-global-liquidity-barometer/
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