Global M2 Money Supply vs BTC
BTC breaks above $105,500. Bears biting their fingernails in disbelief.
Global M2 shows a rocket move immediately ahead. (see zoomed-in chart #2)
BTC likely to break into new ATHs by the end of May.
90% correlation (insanely high) over the past 60 days.
This chart overlay has been fascinating to follow nostr:npub1ume5ugqwxmmkz64ra9y0ajmqdxpc52295sx78453tsnr7w7n95fq3utl8y
nevent1qqsdw4jjx743wpvx7qv70yms5mz9jgu8lyafcf9yammgxgc5snyrxjgpzemhxue69uhhyetvv9ujuurjd9kkzmpwdejhglj9xgk
120k is an incremental increase
nevent1qqsdw4jjx743wpvx7qv70yms5mz9jgu8lyafcf9yammgxgc5snyrxjgpzemhxue69uhhyetvv9ujuurjd9kkzmpwdejhglj9xgk
Both BTC price and M2 are highly integrated series
So the simple correlation could be a spurious regression unless you correctly treat the standard errors
I did this late last year (so its missing a few more recent months)
It shows the short-run relationship (measured by a simple linear correlation) is not statistically significant (p value of 0.51, we'd ideally like to see something under 0.05)
But other research i've done indicates there's a long term relationship and actually a "Granger-causal" relationship between m2 and btc price.
There is a relaitonship between m2 and btcprice but it's not as simple as
