Updated Global M2 Chart Reveals BTC Price Target For 2025

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The latest update from global macro strategist Julian Bittel has reignited discussions around Bitcoin’s long-term price trajectory. By analyzing the Global M2 money supply, a key indicator of worldwide liquidity, Bittel’s revised chart suggests that Bitcoin could reach $170,000 in the coming months—potentially extending into early 2025.

For those unfamiliar, Global M2 represents the broadest measure of money supply across major economies, including cash, checking deposits, and easily convertible near-money. Historically, Bitcoin has shown a strong positive correlation with global liquidity trends. When central banks expand the money supply—through quantitative easing or low interest rates—risk assets like Bitcoin tend to outperform.

“Here it is… the most copied Bitcoin chart on the planet, updated.
Nothing unusual going on, but remember: it’s not about matching Global M2 tick for tick…
It’s all about the trend moving higher – and that’s still firmly intact. Bullish.”
— Julien Bittel, CFA

This upward momentum remains unbroken, despite short-term market volatility. As global liquidity continues to rise, the foundation for higher Bitcoin prices strengthens.

Why $170K Could Be Within Reach

Multiple macro and micro factors support Bittel’s optimistic projection:

1. Persistent Institutional Demand

Spot Bitcoin ETFs have seen record inflows, signaling strong institutional confidence. BlackRock’s iShares Bitcoin Trust (IBIT) recently logged 16 consecutive days of net inflows, pushing its total assets under management to $51.6 billion. This sustained buying pressure occurred even amid geopolitical tensions, reinforcing Bitcoin’s role as a hedge against macro uncertainty.

2. Corporate Treasury Adoption Accelerates

Companies are increasingly treating Bitcoin as a strategic reserve asset. GameStop raised an additional $450 million**, bringing its total capital raised for Bitcoin investments to **$2.7 billion. Other public firms are expected to follow suit, allocating portions of their balance sheets to BTC as a long-term store of value.

3. U.S. States Embrace Bitcoin Reserves

Texas has officially joined the growing list of U.S. states adopting Bitcoin into public finance. Governor Greg Abbott signed the Strategic Bitcoin Reserve Act, allowing the state to purchase Bitcoin without any upper limit. This sets a powerful precedent for fiscal innovation and could inspire similar moves in other states.

“Texas is buying Bitcoin—with no set cap on how much they can purchase.”
— Arkham Intelligence

4. Potential Integration into Traditional Finance

In a groundbreaking development, U.S. Federal Housing Director Bill Pulte has directed government-backed entities Fannie Mae and Freddie Mac to explore using crypto assets as collateral for mortgages. If implemented, this would open a massive new channel for retail and institutional adoption, further embedding Bitcoin into the financial system.

Market Dynamics Favoring a Supply Squeeze

One of the most bullish signals in recent weeks is the all-time low in Bitcoin exchange supply.

As of late June 2025, the total BTC held on exchanges dropped to just 2,072,583 BTC, down over 3,400 BTC in 24 hours. This decline indicates that investors are moving their holdings off exchanges and into cold storage—a behavior typically seen during accumulation phases.

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With fewer coins available for immediate sale, any surge in demand could trigger rapid price appreciation. This structural tightening supports the case for a significant upside breakout.

Analyst Consensus: Bull Run Isn’t Over

Despite Bitcoin already posting substantial gains year-to-date, most top analysts believe the rally is still in mid-cycle. Key metrics suggest we’re far from a top:

These indicators align with Bittel’s thesis: the trend is still higher.

While $170,000 may be achieved by early 2025, some experts argue that sustained liquidity growth could push this target even higher.

Frequently Asked Questions (FAQ)

Q: What is Global M2 and why does it matter for Bitcoin?

A: Global M2 measures the total money supply across major economies. Bitcoin has historically followed this trend because increased liquidity often flows into risk assets like crypto. When central banks print money or ease policy, Bitcoin tends to rise in value.

Q: Is $170,000 a realistic Bitcoin price target?

A: Yes—given current institutional demand, ETF inflows, corporate adoption, and monetary policy trends, $170K is within reach. Historical correlations with M2 and on-chain data support this projection.

Q: How soon could Bitcoin hit $170K?

A: Based on current momentum, late 2025 or early 2026 is a plausible timeframe. However, catalysts like broader financial integration or macroeconomic shocks could accelerate the timeline.

Q: What risks could derail this forecast?

A: Major risks include aggressive global monetary tightening, regulatory crackdowns, or a prolonged recession that triggers risk-off behavior. However, current policy direction remains accommodative.

Q: Why are exchange reserves hitting all-time lows?

A: Investors are withdrawing BTC from exchanges to secure it in private wallets, signaling strong conviction in long-term price growth. Low exchange supply also increases volatility potential during rallies.

Emerging Opportunities in the Bitcoin Ecosystem

As Bitcoin’s price trajectory gains clarity, investors are turning to BTC beta plays—assets that amplify exposure to BTC’s performance.

One such project generating buzz is BTC Bull (BTCBULL), a meme-inspired token designed to reward holders as Bitcoin hits key price milestones.

Here’s how it works:

With nearly $8 million raised and participation from high-net-worth crypto investors (“whales”), BTCBULL has emerged as a speculative but high-reward opportunity during this bull cycle.

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Final Outlook: The Trend Is Your Friend

Julian Bittel’s updated Global M2 chart isn’t just a data point—it’s a narrative about monetary reality. In an era of expanding global liquidity, Bitcoin remains one of the purest expressions of digital scarcity.

With institutional adoption accelerating, U.S. states building strategic reserves, and financial infrastructure beginning to integrate crypto, the conditions for a $170,000 Bitcoin price target are more credible than ever.

While short-term fluctuations will occur, the long-term trend remains unmistakably bullish.

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