Matrixport: Global money supply indicators have regained market focus and may affect price trends in the short term

Odaily News Matrixport released today's chart, saying that recently, the global money supply indicator has regained the focus of market attention. The indicator caught the signal of a small correction of Bitcoin in advance last week, so it attracted the attention of a large number of traders. Although from a historical perspective, indicators based on market liquidity are more accurate in predicting Bitcoin prices, but because this indicator has received widespread attention from the market, its signals are often easily amplified by emotions, thus having a real impact on price trends in the short term. Therefore, the next week will be a key node to verify the effectiveness of the signal.
As long as this market belief persists, it may be transformed into real buying momentum, further affecting the direction of market transactions. Although the correlation between this indicator and the price of Bitcoin is not stable in the long run, like most trading tools, as long as it is still profitable, it has a certain reference value.