Another huge week in crypto, does this space ever get boring? But the weird thing is, retail is STILL nowhere to be seen but the sentiment has certainly picked up over the last week.
If you just look at the fear and greed index, it looks like we may of seen the local bottom. But you never know which way Bitcoin will blow in the short term.
This next chart though paints a VERY exciting picture.
Bitcoins Big Surge: M2 Money Supply
Now, you might've seen this chart doing the rounds lately. But don't get too excited just yet. It's inaccurate.
It turns out there was a simple admin error with the data coming out of India, perhaps just a missed decimal place as their M2 supply increased by almost 10x overnight.
The good news however is that M2 is continuing to increase globally, so the printers are warming up. Inflation over the next few years isn't going to get any better and this is great news for Bitcoin.
Short term though, there's always going to be volatility and who knows which way the wind will blow over the next few weeks.
But with that said, could we see an $80,000 ETH?
$80,000 Ethereum
Now, there has been talk throughout X of Ethereum hitting $80,000... some even more.
You're probably thinking, no way, that will never happen. But can it?
Lets break it down.
The Ethereum chart they don't want you to see—
— Leo Lanza | lanza.eth (@l3olanza) April 24, 2025
$80,000 pic.twitter.com/e7krUcKsqC
First off, that would mean (assuming the supply stays the same), the market cap of Ethereum would be $10 TRILLION. For perspective, Bitcoin is currently at $1.8T and Gold sits at $22.3T.
As of today, that is a ridiculous target, but 10-20 years from now... If Ethereum continues getting adopted and we see more of the traditional financial world moving on chain then it's really not out the picture.
Do you think I sound crazy? I'm not the only one.
VanEck have 3 different price predictions for ETH by 2030.
Base case, $11,849. Bear, $343. Bull? $51,006.
Cathie Wood is calling for a $166,000 ETH by 2032.
Ethereum is also being adopted in many ways, if you want to dive deeper into that then check out this site, Ethereum Adoption.
Just imagine what Bitcoin could be by then. Anyway, enough of the moon boy focus today.
El Salvador Banned From Bitcoin?
In a recent agreement with the IMF in order to secure more loans, they have agreed to stop accumulating more Bitcoin in their portfolio.
The terms also state they must liquidate their Bitcoin trust fund, Fidebitcoin. That is not hoever, the main government holding wallet which now holds over 6,000 Bitcoin.
That wallet, has still been accumulating. Even today they have increased their holding by 1 BTC, sticking to their 1 BTC per day plan.
There are rumors circulating though that El Salvador are simply moving Bitcoin from other wallets into this, to keep up the appearance that they are accumulating more Bitcoin.
The reason these rumors are circulating is due to the IMF putting out this statement yesterday, which implies that El Salvador are being compliant with them with the non-accumulation agreement.
What this means exactly, is legal jargon, and that's why it's only rumors for now that El Salvador are not actually accumulating. Who knows what is actually going on here behind the scenes, but it's an interesting development to follow.
