According to @BullTheoryio, U.S. M2 money supply has reached a record $22.3 trillion and is expanding at the fastest pace since mid-2022, signaling a liquidity turn that historically supports risk assets and crypto [source: @BullTheoryio]. According to @BullTheoryio, periods of accelerating M2 have coincided with rallies in BTC and altcoins, while slowdowns have aligned with crypto drawdowns [source: @BullTheoryio]. According to @BullTheoryio, the driver is an outlook for continued Federal Reserve rate cuts that lower borrowing costs and redirect capital into higher-beta assets like BTC and alts [source: @BullTheoryio]. According to @BullTheoryio, citing UBS expectations, the Federal Reserve could begin purchasing about $40 billion per month in T-bills in early 2026, which would function as early-stage quantitative easing and further boost liquidity if implemented [source: @BullTheoryio citing UBS]. According to @BullTheoryio, a mix of rising M2, lower rates, and balance sheet-style operations would likely weaken the U.S. dollar over the next few quarters, a backdrop the author notes has historically accompanied Bitcoin breakouts, altcoin expansions, and broader risk rallies [source: @BullTheoryio]. According to @BullTheoryio, prior liquidity expansions in 2016-2017 and 2020-2021 aligned with crypto bull runs, and the current acceleration is described as one of the strongest macro setups for BTC and altcoins since the 2020-2021 cycle [source: @BullTheoryio].