Crypto is macro. What does a supportive macro environment look like which allows crypto tokens to pop off?

1️⃣Global Liquidity 📈

2️⃣Economic Activity 📈

3️⃣Inflation 📉

4️⃣Interest Rates 📉

5️⃣US Dollar 📉

Global Liquidity tends to lead Bitcoin by 12 weeks. What could the next 12 weeks have in store for us according to recent liquidity conditions? If Bitcoin were to track the M2 global liquidity as per chart below, it could mean we’re due for a pretty big pullback. Just 1 metric to keep an eye on.
 https://ik.imagekit.io/lens/media-snapshot/cfe764e62941bfbaae4bbad6b62b31473950b777e5f2f952d624b5a964c5fc57.png