Bitcoin lags the changes in M2 growth by an average of about 10 weeks before fully reflecting them.

As of now, the global M2 money supply has reached a historic high of $108.2 trillion, a 3.5% increase from $104.5 trillion on January 6.

Two key points in time:

On September 30, 2024, M2 reaches its peak at $108 trillion, with Bitcoin priced at $63,000.

On December 16, 2024, Bitcoin reaches a short-term high of $105,000, with M2 data at $104 trillion.