The Federal Reserve's recent actions have sparked a surge in the US money supply, potentially bolstering Bitcoin's price trajectory. As investors seek refuge from the devaluing US dollar, Bitcoin's resilience shines. Analysis of the US M2 Money Supply reveals a bullish outlook for Bitcoin, with a rising money supply historically correlating with a weaker US Dollar and increased diversification into Bitcoin.

US Money Supply and Bitcoin's Price

The US M2 Money Supply's resurgence presents a promising scenario for Bitcoin. A growing money supply typically weakens the US Dollar, incentivizing investors to diversify into Bitcoin, driving its price higher. Federal Reserve data reveals a notable trend, hinting at a potential price surge for Bitcoin.

Bitcoin's Price Trends and Market Analysis

Bitcoin's price consolidation within a descending channel has market analysts cautious. A breach of the $60,000 level could trigger a substantial decline towards the $52,000 support zone. Currently, Bitcoin trades at $61,242.09, with a 24-hour trading volume of $21.1 billion and a market capitalization of $1.1 trillion.

Conclusion

As the US M2 Money Supply increases, Bitcoin's price trajectory looks promising despite market downturns. Investors seeking refuge from the devaluing US dollar are turning to Bitcoin, reinforcing its resilience. However, market sentiment remains cautious, with key support and resistance levels being closely monitored.