I trust the money printer more than I trust the sentiment

Look at this simple, yet telling and persuasive chart:

M2 Supply

M2 Supply is at the same level as in the peak of last bull crypto cycle. And growing. Essentially, rising M2 sets the stage for a “risk-on” environment where cash chases returns, creating bullish momentum almost everywhere.

That’s for everyone who is calling the top. The most called top ever.

Last cycle I was busy playing League of Legends so I didn’t experienced it, but I don’t think the current market sentiment represents the euphoria that is correlated to a cycle top or a bubble burst. I mean, we’re all actually pretty depressed.