Global M2 money supply jumped by roughly $1 trillion in a single week, with China accounting for about 80% of that increase, or $800 billion. However, China’s exposure to Bitcoin remained limited: Hong Kong Bitcoin spot ETFs absorbed only 48.1 BTC since August began, worth approximately $3 million. U.S. crypto ETF inflows reached roughly $1.10 billion, with the U.S. money supply standing at $23.16 trillion. Despite this monetary expansion, Bitcoin and altcoins could still decline before a reversal emerges, as year-over-year M2 growth remained positive without clearly entering negative territory. U.S. flows remain the key factor to watch for Bitcoin.
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