Bitcoin posted a strong rally yesterday. After breaking through the $90,000 level, the leading cryptocurrency surged toward $94,000, where the advance temporarily stalled. Ether also saw impressive gains. After trading near $1,570 early yesterday, ETH reached $1,800 during today's Asian session.

This surge in cryptocurrencies followed statements from Donald Trump about lowering tariffs on China, sparking a wave of enthusiasm among investors and analysts. Many also attribute the current rally to Jerome Powell retaining his post as Chair of the Federal Reserve, after Trump announced he had no plans to seek Powell's dismissal. Bitcoin, often seen as "digital gold," remains a favorite as a safe-haven asset, while Ether, with its versatility for decentralized application development, continues to attract interest from tech firms. The recent increase in risk appetite has further supported both assets.

The global M2 liquidity trend in relation to BTC pricing points to a return to a bull market. According to the latest data, the pattern is on track. There remains a robust positive correlation, as BTC continues to follow trends in global liquidity. The influence of global liquidity on crypto markets, especially Bitcoin, is attracting growing attention from analysts and investors. M2, as a broad measure of the money supply, reflects overall capital availability in the economy. When M2 rises, it often signals easier monetary policy, potentially leading to increased investment in risk assets like Bitcoin. While the relationship between M2 and BTC price is not strict, statistically significant correlations have been observed for several years.

It is important to note, however, that many factors affect BTC's price, including regulatory shifts, technological innovation, investor sentiment, and broader macroeconomic trends. So, while the correlation with M2 helps in understanding market direction, it should not be the sole basis for investment decisions.

Currently, buyers are aiming to reclaim the $94,300 level, which would open the way to $95,600, and from there, a move toward $97,100 is within reach. The ultimate upside target is around $99,000. Breaking through this would mark an end to the bear market. If Bitcoin falls, buying interest is expected around $93,000. Dropping below this area could quickly send BTC down to $91,600, with the farthest downside target at $90,500.

A solid close above $1,800 for ETH paves the way to $1,833. The ultimate target is the $1,868 high. Surpassing it would signal the end of the bear market for Ether. If Ether declines, buyers are likely to emerge around $1,765. A drop below this level could push ETH swiftly down to $1,727, with the farthest support at $1,690.