NEW: $175 Billion #Bitcoin is held by Nation States, Companies, and ETFs - VanEck Bullish... 🔥

BULLISH FOR BITCOIN US M2 Money Supply is pointing up again... The last time M2 increased, Bitcoin bull market ripped. We can see the effect when comparing DXY (dollar vs basket of global currencies) They are not tightly correlated all the time, but turning points in DXY… pic.twitter.com/JeRcDnv48l

NEW: Crypto valuations pulled back in April 2024 but industry trends remained broadly favorable. Highlights included: 🅱️ The #Bitcoin halving 📢 #Ethereum rumbles 🏛️Legislative progress 🪙Stablecoins' market cap rose Read our recap for deeper analysis: www.grayscale.com/research/market-commentary/april-2024-crypto-tailwinds-macro-headwinds pic.twitter.com/zUx5NaAfM2

Grayscale's Michael Zhao delves into influences on the trajectory of the current crypto bull market. Bitcoin's cyclical behavior persists, but this cycle sees shifts. To dive deeper, read the full report: www.grayscale.com/research/reports/anatomy-of-a-bitcoin-bull-market pic.twitter.com/MBnG6w6xbg