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Bincrypto
Bitcoin price expected to drop to $70,000!
December 23, 202406:30 GMT+1
Bitcoin vs US Dollar 2025
Bitcoin saw a 15% correction during the third week of December, marking the biggest weekly price drop since August. Experts attribute the decline to the impact of global macroeconomic factors, warning that Bitcoin could see further declines if these pressures intensify.
However, Bitcoin also has internal factors to balance out the negative macroeconomic impact.
Global liquidity has declined sharply over the past two months.
According to The Kobeissi Letter, Bitcoin prices have historically shown a 10-week lag correlation with the global money supply (Global M2). Over the past two months, Global M2 has fallen by $4.1 trillion, suggesting that Bitcoin prices could fall further if this trend continues.
Global M2 is a key economic measure that measures the total money supply in the global economy, including cash, demand deposits (M1), time deposits, and other liquid assets. Fluctuations in Global M2 often impact stock and cryptocurrency markets.
“When the global money supply hit a new record high of $108.5 trillion in October, Bitcoin prices hit an all-time high of $108,000. However, over the past two months, the money supply has fallen by $4.1 trillion, to $104.4 trillion, the lowest since August. If the relationship holds, this suggests that Bitcoin prices could fall by $20,000 in the next few weeks.”
