Willy Woo: The cycle is likely to have peaked, and M2 growth may not necessarily drive Bitcoin rise.

On December 2, crypto analyst Willy Woo stated: “Don't take it for granted that an increase in M2 (Broad Money) will necessarily drive Bitcoin to rise. At the end of the cycle, Bitcoin often leads the trend of M2. My personal view is that, based on models of capital inflows and outflows in the Bitcoin and crypto assets realm, we may have already peaked.” “The Fed's interest rates are declining and they are increasing the money supply, which might lead you to believe that the global M2 money supply will rise. But if global investors are buying dollars instead of risk assets, then the dollar will strengthen, and global M2 will decline.”