Key takeaways:Bitcoin rallied above $109,000 as the global money supply reached new highs.BTC open interest rose by 10% amid a strong Coinbase Premium and stable funding rate, pointing to spot demand.Multiple technical indicators suggest a major breakout is underway, with analysts eyeing a $137,000 Bitcoin price.Bitcoin (BTC) price jumped on Wednesday, rising by 3.6% and reaching $109,730 for the first time since June 12. The recovery occurred at the back of the global money supply (M2), reaching a new all-time high above $55 trillion. If Bitcoin closes the daily candle above $108,500, it will confirm a strong bullish engulfing pattern, increasing…
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