Bitcoin (BTC) is currently aiming to reclaim the $40,000 level as it seeks a new all-time high, primarily fueled by speculation surrounding the potential approval of a spot exchange-traded fund (ETF) by United States regulators.
The news regarding the ETF, combined with the upcoming halving event, is widely seen as a major catalyst that could propel Bitcoin to another record high. Nevertheless, some analysts posit that Bitcoin may receive a boost from an additional catalyst.
Particularly, in a TradingView post on December 1, renowned crypto analyst TradingShot suggested that Bitcoin might be on the verge of a significant global money supply rally, challenging traditional halving theory. Notably, the halving theory dictates that Bitcoin experiences important price rallies following each event.
Bitcoin price analysis chart. Source: TradingView
The potential Bitcoin rally, as per the analyst, is closely tied to two key indicators of the global money supply: Chinese bond yields and the C
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