According to CoinMeta, Coin Bureau indicates that the relationship between Bitcoin (BTC) and the global money supply (M2) has never been more decoupled in history. Over the past decade, the correlation between BTC and M2 has been as high as 83%. However, currently, the global M2 is at a record high, with an annual growth rate of 7.2%. Meanwhile, the trading price of BTC is near $64,000, which is a 44.6% decline from the same period, creating a huge gap of 52 percentage points. In simple terms, although more funds have flowed into the financial system, these funds have not gone into BTC. In 2021, BTC also decoupled from M2, causing it to plummet 55% from $65,000 to $29,000 within 10 weeks, before rebounding to a new high within 4 months. This decoupling has lasted for 10 months and is the longest M2 decoupling period in Bitcoin's history. BTC has now fallen 48% from its peak of $126,000, and there are no signs of a rebound.