According to Odaily, Philip Swift, the founder of on-chain data platform LookIntoBitcoin, released an analysis on June 5th indicating that global liquidity (M2) is nearing $100 trillion, which could favorably impact Bitcoin prices in 2024. Calculated in US dollars, M2 has now reached $94 trillion, setting a new historical high. This figure surpasses the $69,000 historical high of Bitcoin at the end of 2021 by $30 trillion. Since hitting a local low of $85 trillion at the end of 2022, coinciding with the trough of the cryptocurrency bear market, M2 has rebounded by 10%.