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Why hasn't BTC taken off yet? The key is not in the total M2 supply, but in the **Liquidity growth rate**.



On-chain analyst CryptoRover has discovered an overlooked pattern: the crypto market's response to **annual Liquidity growth rate** far exceeds its response to the global M2 total supply.

Data speaks:
- When M2 growth rate soared to 18% in 2021, BTC迎来历史级别牛市.
- In 2025, the M2 growth rate will only be 2-6%, and BTC will fluctuate around 70,000 USD.
- Total M2 is increasing, but the growth rate is slowing down = Liquidity momentum is insufficient

**Core Logic**: In the crypto world, it's not about how much money there is, but how quickly the money is printed. If money is printed quickly (positive growth + acceleration), retail investors FOMO, and funds flood in. If money is printed slowly (decreasing growth), even if the total amount is substantial, no one will pursue it.

Historical verification:
- 2018-2019: Liquidity was negative → Bear market
- 2020-2021: Massive monetary easing → Bull market
- 2023-2025: Liquidity stagnation → Consolidation

**What should investors look for?** Central bank policy direction. Once the liquidity growth rate rises back to 8-10%, BTC is expected to break through $100,000, and altcoins will follow to da moon. Analysts predict that if the central bank shifts to easing next year, this wave of market movement may be delayed but will not be absent.
BTC0.52%
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