Analyst: Since early May, Bitcoin has decoupled from the global M2 money supply

Jinse Finance reported that Joe Consorti, Head of Growth at Theya, posted on the X platform stating that since early May, Bitcoin has no longer tracked the global M2 money supply with a lag of about 70 days. Gold, on the other hand, has followed changes in global M2 with an almost 1:1 sensitivity. This is an example of changing asset correlations against the backdrop of a prolonged global dollar weakness and heightened geopolitical risks. Gold is a high-volatility risk-off asset, while BTC is a high-volatility risk-on asset.