Glassnode Researcher Reports No Correlation Between Bitcoin and Money Supply
A senior researcher at Glassnode has analyzed the correlation between Bitcoin and the money supply of G7 economies. Key findings include:
- No consistent correlation observed between Bitcoin and US M2 or other major economies' money supplies.
- Correlation metrics have fluctuated, showing both positive and negative values without clear macroeconomic triggers.
- Long-term analysis (180-day rolling window) confirms a stochastic rather than structural relationship.
- Bitcoin's recent correlation with Gold remains neutral, while it shows some positive correlation with the S&P 500.
Currently, Bitcoin has retraced to $119,000 after briefly exceeding $122,000 over the weekend.
