The global liquidity, measured by M2, has reached a new historical high of $94 trillion, surpassing the previous high of $69,000 by $30 trillion. This significant milestone has been achieved by Philip Swift, the founder of on-chain data platform LookIntoBitcoin, who released an analysis on June 5th indicating that global liquidity is nearing $100 trillion.

The M2 figure, calculated in US dollars, has been steadily increasing since hitting a local low of $85 trillion at the end of 2022, coinciding with the trough of the cryptocurrency bear market. The 10% rebound since then suggests a strong recovery in global liquidity, which could have a positive impact on Bitcoin prices in 2024.

The analysis by Swift highlights the potential for Bitcoin prices to rise in 2024, driven by the increasing global liquidity. As the global economy continues to recover from the pandemic, the demand for digital assets like Bitcoin is likely to increase, driving up prices.

The rebound in global liquidity is also a testament to the resilience of the global economy, which has shown remarkable strength in the face of adversity. The increasing demand for digital assets like Bitcoin is a reflection of this resilience, as investors seek safer and more stable alternatives to traditional assets.

In conclusion, the global liquidity reaching a new historical high of $94 trillion is a significant development that could have a positive impact on Bitcoin prices in 2024. The analysis by Swift highlights the potential for Bitcoin prices to rise, driven by the increasing global liquidity and the demand for digital assets like Bitcoin.