Global Macro Research’s Julian Bittel has just released an updated Global M2 money supply chart.
For the uninitiated, Bitcoin has historically maintained a strong positive correlation with global liquidity—commonly tracked through the Global M2, which measures the total money circulating across major economies.
As the saying goes, “Nothing ever happens because liquidity fills every gap.”
Bittel’s latest Global M2 chart indictes that the Bitcoin price could hit $170,000 in the coming months.
Notably, global liquidity continues to rise, suggesting that even Bitcoin’s price target could eventually be revised higher.
Bitcoin Price Prediction – Is $170k A Realistic Price Target For This Year?
A wide variety of factors confirm Bittel’s Bitcoin price prediction.
For instance, the spot Bitcoin ETFs continue to record massive daily inflows. BlackRock’s IBIT has now recorded 16 straight days of inflows, bringing its total assets under management to $51.6 billion. Notably, ETF buyers shrugged off the recent geopolitical risks, which reinforced Bitcoin’s position as a hedge against uncertainty.
Meanwhile, institutions are FOMO buying BTC. GameStop raised another $450 million, bringing total funding to $2.7 billion to allocate Bitcoin as a reserve asset. Several other companies have already indicated their commitment to include a sizable BTC allocation in their balance sheet.
Meanwhile, Texas became the latest US state to approve a strategic Bitcoin reserve, allowing the state to increase their BTC hodings with no upper cap.
In another major news, the U.S. Director of Federal Housing Bill Pulte has asked the Great Fannie Mae and Freddice Mac – which are government-sponsored enterprises – to consider crypto assets as a collateral for mortgage.
This could supercharge the institutional and retail demand for Bitcoin.
Unsurprisingly, the Bitcoin exchange supply has hit an all-time low on Wednesday.
Most prominent analysts remain highly bullish on BTC, with a growing consensus forming thst the Bitcoin price will at least hit $150,000 this year.
Notably, all key cycle top indicators currently suggest that the largest cryptocurrency still has considerable upside. For instance, BTC’s MVRV score highlights that the asset is far away from its cycle top.
Therefore, there is considerable possibility that the Botcoin price continues to track Global M2 and hit $170,000, perhaps by early next year.
BTC Bull Token Holders Poised To Benefit From Bitcoin’s Long-Term Trajectory
Considering Bitcoin’s bullish prospects, BTC beta plays are excellent investments.
For instance, investors can earn free Bitcoin when the BTC price hits $150,000, thanks to the all new BTC Bull token.
BTC Bull (BTCBULL) is a soon-to-launch meme coin that ties community rewards directly to Bitcoin’s price performance.
As BTC crosses key price milestones, BTCBULL will initiate airdrops, token burn events, and even direct Bitcoin giveaways, offering holders real incentives to stay engaged through the bull cycle.
The token burn events, which will burn 5% of the entire token supply, will trigger when the Bicoin price hits $125k, and on every subsequent increase. Meanwhile, the free Bitcoin airdrop will go live when BTC hits $150k, both likely to happen this year itself.
Its small market capitalization and unique value proposition has helped BTCBULL’s presale gain major traction. The project has already raised nearly $8 million, with several high-net-worth crypto investors, or “whales,” participating early.
Prominent analysts and crypto influencers are bullish on BTCBULL’s upside potential, with the early buyers eyeing between 10x and 100x returns.
However, sidelined investors now have just 4 days to buy BTC Bull early at its presale price, with its ICO ending on June 30th.
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