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%.
Global Liquidity Nears $100 Trillion, Potentially Boosting Bitcoin Prices in 2024
![](https://public.bnbstatic.com/image/pgc/202211/ff39a105a210ecd0a61407a69ad82dbd.jpg)
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