Odaily Planet Daily News Matrixport released today's chart saying that since November 2023, the money supply and Bitcoin trends have been highly synchronized, showing that against the backdrop of a weakening US dollar, expectations for global liquidity expansion are continuing to heat up.

This synchronization is more driven by market sentiment than causality. While the indicator still points to an upward trend for Bitcoin, its cyclical nature clearly limits its usefulness. This signal remains consistent with our overall bullish outlook.

As the market expects the Federal Reserve to cut interest rates, if Powell sends a dovish signal and hints at further easing, the US dollar will most likely weaken and liquidity will be improved, thereby providing support for Bitcoin prices.