Bitcoin is closely following the historic price performance of gold and the trajectory of the global M2 money supply, indicating a potential major rally for the cryptocurrency.
Bitcoin's price movements have mirrored those of gold due to similar macroeconomic dynamics like inflation and investor demand for scarce assets. Institutional recognition of Bitcoin as a store of value is increasing.
Analysis shows that Bitcoin often lags behind increases in the global M2 money supply by around two months, suggesting a possible upcoming rally for the cryptocurrency.
BTC is displaying bullish signs, including the formation of a golden cross on the four-hour chart, indicating a potential further upside. Analysts predict new all-time highs for Bitcoin, but caution about potential risks if critical support levels are breached.