Have you looked into Realized price vs Global M2?

I've seen a spot price vs money supply chart of yours, but was thinking whether looking into the actual money in the system vs global M2 as a way to track the share of money into the ecosystem.

Today Realized priced crossed $24.000- but my impression is this is more relevante than on the previous cycle since there is significant less liquidity around?

kind of intested on listening to your thoughts on this?