[Matrixport: Currency Supply Indicator Suggests Bitcoin May Continue to Rise] Matrixport analysis indicates that since November 2023, the currency supply indicator has been highly correlated with Bitcoin price movements, reflecting a weakening dollar and expectations of global liquidity expansion. Although this indicator primarily reflects market sentiment, it still suggests that Bitcoin may see further gains. If the Federal Reserve cuts interest rates and signals a dovish stance, a weaker dollar could potentially support Bitcoin prices.