Bitcoin Price vs M2 Money Supply

BTC USD price compared with the U.S. M2 money supply (FRED M2SL).

This chart compares Bitcoin’s USD price with the U.S. M2 money supply using the Federal Reserve's weekly WM2NS series (M2, not seasonally adjusted). M2 includes cash, checking deposits and easily convertible near money and is a popular proxy for broad monetary liquidity.

Over longer timeframes, expansions in M2 often coincide with stronger performance of risk assets such as equities and Bitcoin, while periods of contracting or stagnating money supply can align with weaker or more volatile markets. Use the duration buttons to explore how large BTC bull cycles have tracked major shifts in global dollar liquidity.