$BTC The process of M2 failing

As ETFs begin to enter the market, institutionalized pricing is rewriting the logic of BTC pricing,

A series of moves after Trump took office planted the seeds for this bear market,

October 11th was the trigger; market liquidity is frozen—money inside the market is stuck in place,

The Chen Zhi case is an accelerant, and the ability of black-market funds to absorb declines is weakening,

The speed at which the dollar tightens and geopolitical tensions tighten far exceeds the speed of liquidity expansion; the traditional transmission channels have been completely cut off.

M2 is a monthly stock indicator. Its expansion takes months to transmit to risk assets.

Meanwhile, the strengthening of the US Dollar Index is a fast variable—once it rises, it tightens the financial environment within a few days.

Just now, I had AI calculate that with geopolitical tensions plus a surge in oil prices, the speed of liquidity tightening is four times the speed of expansion!

Hard to say about the future, but at least during Trump’s term,
the macro anchor should be DXY, not M2
#美军打击伊朗