TradingKey – Bitcoin (BTC) rallied more than 3% on Thursday, July 3, climbing to an intraday high of $109,730, reversing recent weakness and inching closer to the $110,000 milestone.
Bitcoin Price Chart – Source: TradingView.
Earlier in the day, Bitcoin’s market capitalization briefly hit $2.179 trillion, surpassing Alphabet’s $2.164 trillion, reclaiming the #6 spot among global assets.
According to Matt Mena, crypto strategist at 21Shares, the rally was fueled by a renewed surge in M2 money supply. On Wednesday, U.S. M2 reached a record $21.94 trillion, signaling increased liquidity that often correlates with Bitcoin price appreciation.
Industry veteran Anthony “Pomp” Pompliano echoed the bullish sentiment, forecasting that Bitcoin could hit $150,000 by year-end, assuming it continues to track the expansion of monetary supply.
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