This is just an expected drawdown related to global M2 declining from late September 2024 through mid-January 2025. M2 has since been moving higher (primarily because of a weakening US dollar).
With ...
Would be good to have Jeff Walton on to discuss $MSTR S&P inclusion, etc. I believe Joe equivocated regarding what will happen if ₿ not > $96k w new FASB rules. “PunterJeff” on X.