Analyst: Since early May, Bitcoin has depegged from the global M2 Money Supply.

Golden Finance reported that Joe Consorti, the growth head of Theya, stated on the X platform that since early May, Bitcoin has not tracked the global M2 Money Supply with a lag of about 70 days. Gold closely follows the changes in the global M2 with an almost 1:1 sensitivity, which is an example of the changing correlation between assets against the backdrop of a long-term weak dollar and increasing geopolitical risks. Gold is a high volatility risk-off asset (high beta risk-off), while BTC is a high volatility risk-on asset (high beta risk-on).