{"id":655308,"date":"2024-11-28T14:30:30","date_gmt":"2024-11-28T14:30:30","guid":{"rendered":"https:\/\/uniquehot.com\/?p=655308"},"modified":"2024-11-28T10:32:37","modified_gmt":"2024-11-28T10:32:37","slug":"storm-ahead-bitcoin-price-could-tumble-20-due-to-m2-supply-concerns","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin\/storm-ahead-bitcoin-price-could-tumble-20-due-to-m2-supply-concerns\/","title":{"rendered":"Storm Ahead? Bitcoin Price Could Tumble 20% Due To M2 Supply Concerns"},"content":{"rendered":"<p>Investors have expressed apprehension regarding the recent price fluctuations of Bitcoin, particularly in light of analysts&#8217; predictions of a 20-25% decline in the global M2 money supply.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/crypto-bloodbath-over-500-million-liquidated-as-bitcoin-slides-to-92k-report\/\" target=\"_blank\" rel=\"noopener \">Crypto Bloodbath: Over $500 Million Liquidated As Bitcoin Slides To $92K \u2013 Report<\/a><\/div>\n<p>At $92,864, bitcoin is down nearly 9% from its recent high of just under $100,000. That fall is part of a trend of profit-taking by long-term holders, who sold 366,000 BTC in the last month, the most since April 2024.<\/p>\n<h2><strong>Introduction To The M2 Money Supply Connection<\/strong><\/h2>\n<p>Market researchers have been studying the relationship between Bitcoin prices and <a href=\"https:\/\/en.macromicro.me\/charts\/3439\/major-bank-m2-comparsion\" target=\"_blank\" rel=\"noopener nofollow\">global M2 money circulation.<\/a> Crypto analyst Joe Consorti noted that Bitcoin prices have regularly tracked M2 pricing, albeit 70 days later.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Bitcoin has tracked global M2 with a ~70-day lag since September 2023.<\/p>\n<p>I don&#8217;t want to alarm anyone, but if it continues, bitcoin could be in for a 20-25% correction.<\/p>\n<p>Global M2 in \u26aa\ufe0f<br \/>\nBitcoin in \ud83d\udfe0 <a href=\"https:\/\/t.co\/PlPoaHUoFR\" rel=\"nofollow\">pic.twitter.com\/PlPoaHUoFR<\/a><\/p>\n<p>\u2014 Joe Consorti \u26a1\ufe0f (@JoeConsorti) <a href=\"https:\/\/twitter.com\/JoeConsorti\/status\/64971521?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 25, 2024<\/a><\/p><\/blockquote>\n<p>That is, <a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\" target=\"_blank\" rel=\"noopener nofollow\">Bitcoin&#8217;s price<\/a> is likely to follow the trend of M2 going down in the near future. The latest drop in M2 shows that Bitcoin might fall to important support levels of $88,000 or even $80,000 if things keep going the way they are.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">UPDATE: One day after my last chart, bitcoin is now $5,000 lower, following the path set by global M2 several weeks ago very closely.<\/p>\n<p>So far, this correlation is shockingly accurate.<\/p>\n<p>We&#8217;ll have to see if BTC follows it all the way down, or stops short &amp; finds support.<\/p>\n<p>\ud83c\udf7f\ud83c\udf7f\ud83c\udf7f <a href=\"https:\/\/t.co\/oEGOuYYRio\" rel=\"nofollow\">pic.twitter.com\/oEGOuYYRio<\/a><\/p>\n<p>\u2014 Joe Consorti \u26a1\ufe0f (@JoeConsorti) <a href=\"https:\/\/twitter.com\/JoeConsorti\/status\/76147151?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 26, 2024<\/a><\/p><\/blockquote>\n<p>Bitcoin has been weakening as it can&#8217;t stay over $94,000. Because breaking these liquidity zones could cause greater declines, analysts are watching them attentively. Investors are worried because Bitcoin&#8217;s chance of reaching $100,000 by year&#8217;s end has plummeted from 92% to 64%.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-655309\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/a_cec2df.png?resize=1024%2C629\" alt=\"\" width=\"1024\" height=\"629\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/a_cec2df.png?w=1489 1489w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/a_cec2df.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/a_cec2df.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/a_cec2df.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/a_cec2df.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/a_cec2df.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<h2><strong>Long-Term Holders&#8217; Pressure To Sell<\/strong><\/h2>\n<p>Glassnode&#8217;s most recent data indicates that long-term holders (LTHs) have been more <a href=\"https:\/\/studio.glassnode.com\/dashboards\/btc-onchain-activity\" target=\"_blank\" rel=\"noopener nofollow\">active in selling<\/a>, with over 507,000 BTC distributed since September 2023. This selling pressure is substantial and indicates that numerous investors are liquidating their profits in the context of the current market volatility.<\/p>\n<figure style=\"width: 1634px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/R0HRbF2b\/\" width=\"1634\" height=\"883\"><figcaption class=\"wp-caption-text\">Bitcoin is currently trading at $95,454. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<p>The potential shift in market sentiment, which is suggested by the increased activity among LTHs, could further exacerbate the downward pressure on Bitcoin&#8217;s price.<\/p>\n<p>Additionally, the Realized Profit\/Loss (P\/L) ratio has reached new historical highs, indicating an overheated market. An increase in this ratio typically means that a sizable portion of investors are benefiting from price increases. Analysts caution that Bitcoin&#8217;s rising momentum may be waning due to the current trend of profit-taking and decreasing liquidity.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/shiba-inu-eyes-explosive-growth-over-200-surge-ahead-analyst-says\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu Eyes Explosive Growth: Over 200% Surge Ahead, Analyst Says<\/a><\/div>\n<h3><strong>Bitcoin Future Outlook &#8211; What Is In Store?<\/strong><\/h3>\n<p>As it works its way through these challenges, the future of Bitcoin is still quite foggy. Despite the fact that there are market observers who believe that the price of the top crypto can normalize at lower levels, there are also analysts who warn that additional corrections might be required if global liquidity continues to decrease.<\/p>\n<p><em>Featured image from DALL-E, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investors have expressed apprehension regarding the recent price fluctuations of Bitcoin, particularly in light of analysts&#8217; predictions of a 20-25% decline in the global M2 money supply. Related Reading: Crypto Bloodbath: Over $500 Million Liquidated As Bitcoin Slides To $92K \u2013 Report At $92,864, bitcoin is down nearly 9% from its recent high of just under $100,000. That fall is part of a trend of profit-taking by long-term holders, who sold 366,000 BTC in the last month, the most since April 2024. Introduction To The M2 Money Supply Connection Market researchers have been studying the relationship between Bitcoin prices and global M2 money circulation. Crypto analyst Joe Consorti noted that Bitcoin prices have regularly tracked M2 pricing, albeit 70 days later. Bitcoin has tracked global M2 with a ~70-day lag since September 2023. I don&#8217;t want to alarm anyone, but if it continues, bitcoin could be in for a 20-25% correction. Global M2 in \u26aa\ufe0f Bitcoin in \ud83d\udfe0 pic.twitter.com\/PlPoaHUoFR \u2014 Joe Consorti \u26a1\ufe0f (@JoeConsorti) November 25, 2024 That is, Bitcoin&#8217;s price is likely to follow the trend of M2 going down in the near future. The latest drop in M2 shows that Bitcoin might fall to important support levels of $88,000 or even $80,000 if things keep going the way they are. UPDATE: One day after my last chart, bitcoin is now $5,000 lower, following the path set by global M2 several weeks ago very closely. So far, this correlation is shockingly accurate. We&#8217;ll have to see if BTC follows it all the way down, or stops short &amp; finds support. \ud83c\udf7f\ud83c\udf7f\ud83c\udf7f pic.twitter.com\/oEGOuYYRio \u2014 Joe Consorti \u26a1\ufe0f (@JoeConsorti) November 26, 2024 Bitcoin has been weakening as it can&#8217;t stay over $94,000. Because breaking these liquidity zones could cause greater declines, analysts are watching them attentively. Investors are worried because Bitcoin&#8217;s chance of reaching $100,000 by year&#8217;s end has plummeted from 92% to 64%. Long-Term Holders&#8217; Pressure To Sell Glassnode&#8217;s most recent data indicates that long-term holders (LTHs) have been more active in selling, with over 507,000 BTC distributed since September 2023. This selling pressure is substantial and indicates that numerous investors are liquidating their profits in the context of the current market volatility. The potential shift in market sentiment, which is suggested by the increased activity among LTHs, could further exacerbate the downward pressure on Bitcoin&#8217;s price. Additionally, the Realized Profit\/Loss (P\/L) ratio has reached new historical highs, indicating an overheated market. An increase in this ratio typically means that a sizable portion of investors are benefiting from price increases. Analysts caution that Bitcoin&#8217;s rising momentum may be waning due to the current trend of profit-taking and decreasing liquidity. Related Reading: Shiba Inu Eyes Explosive Growth: Over 200% Surge Ahead, Analyst Says Bitcoin Future Outlook &#8211; What Is In Store? As it works its way through these challenges, the future of Bitcoin is still quite foggy. Despite the fact that there are market observers who believe that the price of the top crypto can normalize at lower levels, there are also analysts who warn that additional corrections might be required if global liquidity continues to decrease. Featured image from DALL-E, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":655318,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,679,1119,1144,6664,92920],"class_list":["post-655308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-crypto","tag-m2"],"acf":[],"yoast_head":"\n<title>Storm Ahead? 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Storm Ahead? 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