**Liquidity Expansion + Derivatives Suppression Removal, Bitcoin Price Discovery Mechanism Reboot Imminent**
Recently, the structure of Bitcoin's price has been undergoing a subtle yet significant change. As the macro liquidity environment continues to improve, the US M2 money supply has expanded for 21 consecutive months, reaching a record high of $22.3 trillion, a year-over-year increase of 4.3%. Even after adjusting for inflation, the real M2 still maintains a 1.5% YoY growth, and has been rising for 15 consecutive months. This long-term trend of fiat currency dilution is building a new fun
View OriginalRecently, the structure of Bitcoin's price has been undergoing a subtle yet significant change. As the macro liquidity environment continues to improve, the US M2 money supply has expanded for 21 consecutive months, reaching a record high of $22.3 trillion, a year-over-year increase of 4.3%. Even after adjusting for inflation, the real M2 still maintains a 1.5% YoY growth, and has been rising for 15 consecutive months. This long-term trend of fiat currency dilution is building a new fun