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Bitcoin price movement begins look positive After a brief extent of accidents on Sunday and Monday. After having broken down at $ 74,000 on Monday, a lower momentum looked ready to hang out The Bitcoin price has dropped again. However, the bulls quickly intervened To defend the dip. Their aggressive purchase has dropped the price, Bitcoin now moving to the level of $ 80,000.
This recent crash is interesting because it aligns almost perfectly with a high -level metric. This metric not only foreshadowed the crash, but it now points to a powerful upward movement for the next Bitcoin rally.
The analyst says that Global M2 is a main signal for the next Bitcoin movement
Colin, a Crypto analyst well followed on X, recently attracted attention to the Bitcoin relationship with the global money supply of M2. Taking on the social media platform X, the analyst shared a graph showing the correlation of Bitcoin prices with the global money supply of M2, although with a 108-day compensation. It almost seems that the global money supply of M2 works as a model for the action of Bitcoin prices, because the main cryptocurrency has been on the biggest step since August 2024.
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In his latest article, Colin explained that Bitcoin continues to “follow Global M2 like Grue”. The painting he shared superimposes the Bitcoin candlestick movements with a yellow line representing the m2 power offset by this duration. The result is a striking correlation that Colin has always followed for over a year.
The graph below highlights what Colin labeled a mini-ronely who failed and another crash, which was played as M2 had predicted. Now, with Bitcoin From April with this accidentThe M2 indicator suggests that it could very well relax soon.
However, Colin noted that the price could consolidate more or experience minor drops before the planned rally. The analyst noted that the main cryptocurrency is not completely out of the woods. But if luck is mainly aside from here until the blastoff shown by the M2, which is not in May.
Maybe the breath? The configuration of the BTC rally is strengthened despite a short -term accident
Colin forecasts are based on the idea that Bitcoin could start a major Move up of early Maythat he called an “explosion” in May. The M2 yellow projection curve on its graph shows a stiff rise from May 1, indicating the possibility that Bitcoin is carried out around $ 128,000 if the correlation remains intact.
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However, the analyst has not given up the short -term risks to which Bitcoin and the entire cryptography market could face in April. These short -term risks are based on political concerns concerning “Trump prices”, which have Define the fire investment markets In the past few days.
The coming weeks will be important for the outcome of this blastoff. If it holds above $ 78,000 to $ 80,000 while maintaining the alignment with the global money supply of M2, could inaugurate the parabolic movement that Colin alludes.
At the time of writing this document, Bitcoin is negotiated at $ 79,255, up 5.5% in the last 24 hours.
Felash star image, tradingView.com graphic