The M2 money supply in the United States has risen to $22.3 trillion, with the fastest expansion rate since mid-2022, improving liquidity.

2. The accelerated growth of M2 typically benefits risk assets such as Bitcoin and altcoins, compounded by the Federal Reserve's expected interest rate cuts and UBS's prediction of purchasing $40 billion in Treasury bonds monthly by early 2026 (similar to quantitative easing), which will further boost liquidity.

3. These factors may lead to a weakening of the dollar, and a softer dollar often drives up Bitcoin and risk assets. Historically, liquidity expansion cycles have coincided with crypto bull markets, and the current macro environment is favorable for this, with the market not yet fully reflecting the impact of liquidity expansion. $BTC $ETH $SOL #比特币VS代币化黄金 #美联储重启降息步伐 #ETH走势分析