
Global liquidity is contracting across every timeframe. Global M2 is down -0.42% daily, -0.55% on the week, -1.22% on the month. Fed liquidity is the only measure showing consistent positive movement. China ranks at 2nd place with global M2 sitting last across the board. The liquidity heatmap is also beginning to roll over. Early contraction is visible on the bottom right — the shift is not isolated to one metric. When liquidity contracts at this scale, $BTC feels it. To be optimistic, the correlation is currently highest with FED liquidity, which is skyrocketing at this time.
