Global Money Supply Reaches Record High Amid Central Bank Printing Spree

The global money supply has reached an all-time high of $103.66 trillion, marking the tenth consecutive monthly increase in central bank-printed cash.

This surge is attributed to the combined efforts of major central banks, including the Fed, ECB, Bank of Japan, and PBOC, which added another $1 trillion in August alone.

The Bitcoin price currently sits within its Bollinger Bands, with an upper resistance at $84,915.07 and a neutral RSI reading of 52.38.

Technical analysis suggests that the BTC price may experience a retracement towards the EMA50 support level at $83,544.64 before any sustained advance.