Global M2 Supply Breaks Record at 103 Trillion: Why Has Bitcoin Fallen 33%?

Global M2 reportedly reached a record $103 trillion while Bitcoin fell roughly 33%, highlighting that expanding liquidity does not automatically translate into immediate crypto demand. The decline reflects competing forces such as tighter financial conditions, a stronger dollar, risk-off sentiment, and Bitcoin-specific selling pressure or deleveraging. The key implication is that global money growth may support Bitcoin over a longer horizon, but near-term price performance remains driven by liquidity transmission, investor risk appetite, and market structure rather than M2 alone.