A closely followed Crypto analyst says Bitcoin (BTC) could be in the cusp of the next explosive rally.
In the newly released macro report, pseudonymous analyst TechDev highlights the supply ratio of M2 and M2 money from the previous year as key signals to the sharp rise in Bitcoin.
The copper/gold ratio, often considered a proxy for economic risk appetite, began to rise. TechDev’s move has historically preceded the BTC bull market several months ahead.
“As of mid-2025, the ratio has fallen, is stable and even shows signs of turning higher, suggesting investors are beginning to predict a recovery.
Source: TechDev
Analysts say Global M2 Money Supply, a measure of broad liquidity in the global financial system, has reversed from negative annual growth to positive growth. He also states that each of the Bitcoin’s parabolic phases is ahead of six to ten months ahead, suggesting another upward cycle is likely to be imminent.
“When Global M2 rises, Bitcoin will usually follow suit. This dynamic appears across multiple cycles. For example, in the aftermath of the 2020 Covid crisis, the Global M2 surged at the fastest speed in modern history.
Conversely, if the central bank strengthens its policies to combat inflation, as did 2022 and 2023, the global M2 will flatten or contract. Bitcoin has been a tough time during this time. Its prices fell sharply in parallel with the decline in liquidity, reinforcing that it is not a sentiment, but a flow of capital that promotes crypto price action. So did Bitcoin’s momentum as liquidity dwindled. ”
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