Bitcoin (BTC) Against the Global M2 Money Supply Remains Bullish, Targeting $100k

Crypto analyst Colin has assured that Bitcoin against the Global M2 money supply continues to be bullish.

Crypto analyst Colin is assuring that Bitcoin against the Global M2 money supply continues to be bullish. Based on this, the analyst predicts that the flagship crypto will soon blast past $100,000 and rally to a new all-time high (ATH) in the coming months.

Global M2 Still At All-Time High As BTC Eyes New ATH

In an X post, Colin stated that the Global M2 has remained at an all-time high for three days in a row, which he noted is a “fantastic sign” for Bitcoin and other risk assets. However, he warned that it could still take some weeks before the liquidity flows into BTC. His accompanying chart showed that the flagship crypto could rally to as high as $144,000 when that happens.

In the meantime, predicts that there could be another dip buying opportunity since the Global M2 doesn’t show a blast-off for another one to two weeks. Instead, it shows a slow bleed until around April 16th or 17th. As such, the analyst looks convinced that there will be another buy-the-dip opportunity. It is worth mentioning that his chart showed that the blast-off might not happen until May.

“They are pulling a Nurmagometov on us. They won’t let go of the Global M2 all-time high. It’s been three days now, which is a fantastic sign for Bitcoin and other risk assets. But it might take a few more weeks for this liquidity to flow into BTC. In the meantime, there is another buy-the-dip opportunity as the Global M2 won’t blast-off for 1-2 weeks. It shows a slow bleed until 15th-16th of April.”

Meanwhile, Colin cautioned doubters and flip-floppers, adding that they shouldn’t be swayed by each small price movement, even when Bitcoin breaks to the downside.

“This is backed by the fact that the Global M2 will be 20% of the time in a mathematical correlation, including the times it deviates to the upside and downside. This is why we must zoom out to account for that 20% period. We shouldn’t be too quick to judge the M2 offset on each short-term Bitcoin price movement.”

BTC Momentum Flip Might Be Happening

Another crypto analyst known as Titan of Crypto is indicating that a Bitcoin momentum flip might be happening. According to the analyst, the LMACD is showing a clear shift in momentum, while price action is displaying strength on the weekly chart. He added that momentum and structure are aligned. His accompanying chart showed that BTC will be seeking to reclaim $90,000 on this momentum flip.

In another X post, Titan of Crypto stated that a major breakout is on the horizon for the Bitcoin price. According to the analyst, BTC could be on the verge of a reversal as the weekly Relative Strength Index (RSI) just broke its trendline, which is a key shift in momentum.

At the time of writing, the Bitcoin price is currently trading at around $85,400, showing an increase of over 1% over the last 24 hours, according to crypto price tracking service, CoinMarketCap.