Lawrence Lepard Calls Bitcoin A ‘Liquidity Smoke Alarm,’ Explains Why It’s Lagging Despite M2 Growth - TradingView

Lawrence Lepard Calls Bitcoin A ‘Liquidity Smoke Alarm,’ Explains Why It’s Lagging Despite M2 Growth - TradingView

Source: TradingView

DW NOTE

Bitcoin lags M2 growth because M2 growth is a measure of liabilities banks owe depositors, not the actual purchasing power of those deposits. The Fed has expanded the monetary base by $1.8 trillion in ten months while holding rates at 3.65% and threatening hikes if inflation persists — that's monetary expansion paired with real-rate suppression, not liquidity. Bitcoin prices what liquidity does to purchasing power, not what it does to spreadsheet totals.

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