Record-breaking global M2 money supply paves the way for potential Bitcoin price surge, history suggesting this pattern.

The global M2 Money Supply has recently reached a new all-time high (ATH), and this development has caught the attention of the crypto community. Amidst bearish short-term expectations for September, there is a bullish long-term market view among analysts, investors, and traders regarding Bitcoin (BTC).

Last month, Bitcoin reached a staggering new ATH price of $124,000. However, the price immediately dipped following the record high, dropping to $118,000, then $115,000, and even below $113,000. Since then, BTC has been trading in the $110,000 price range.

Two popular crypto analysts have identified separate bullish signals for a potential BTC price pump. One analyst believes a daily close above the current downtrend and/or a post-breakout retest would confirm an expected breakout for BTC, potentially flipping the $120,000 price range. Another analyst states that BTC has broken out from the downtrend channel, suggesting a possibility of Bitcoin retaking the $120,000 price range.

Bitcoin is currently attempting to break its two-week-old daily downtrend. If successful, it could be a sign of the anticipated breakout. The crypto market and various crypto analysts are closely monitoring the BTC price chart for these bullish signals.

Despite the bullish predictions, there are also warnings of a potential brutal correction in September. This correction is due to the desire to fill out a huge CME Gap, a common occurrence in the crypto market where there is a significant price difference between the high of a rally and the low of the following sell-off. The crypto community anticipates a bearish red month in September.

However, after the expected September correction, the price of BTC is predicted to follow the increase in the Global M2 Money Supply. Historically, the price of Bitcoin has followed the price pattern of the Global M2 Money Supply with a 20-day lag. This correlation between the two is significant, but the current bullish signals for BTC are separate from this historical relationship.

In conclusion, while the crypto market braces for a potential brutal correction in September, there are still bullish signs for the long-term future of Bitcoin. The global M2 Money Supply reaching a new all-time high adds another layer of interest to the ongoing narrative of Bitcoin's price movement. The crypto community will be keeping a close eye on BTC's price chart in the coming weeks to see if the expected breakout will indeed occur.

Record-breaking global M2 money supply paves the way for potential Bitcoin price surge, history suggesting this pattern.