Macro data is an important indicator of risk assets. In our daily observations, in addition to the US dollar index and the 10-year US Treasury yield, the M2 money growth rate of the world's three major central banks (the United States, China and Europe) is one of the key indicators. The price of risk assets is positively correlated with the money supply, and this logic is easy to understand. When there is more money in the market, naturally, capital will choose assets with higher risk returns to allocate and invest in order to pursue profits.

Cryptocurrency naturally belongs to this type of investment target. The growth rate of the M2 money supply of the three major central banks, which is below or near the 0 axis, will be the best time node for fixed investment in cryptocurrencies such as BTC. The most recent time when the M2 growth rate fell to -5.07% was in October 22, which was also the lowest point in history. Subsequently, the M2 growth rate began to bottom out and rebound, and the BTC price bottomed out in mid-November, and soon after, it began to bottom out and rebound!