M2 Money Stock (NSA)
M2 money stock, not seasonally adjusted ($B, weekly)
| Property | Value |
|---|---|
| Category | macro |
| Unit | $B |
| Resolution | 1d |
| Assets | MACRO |
| Tier | Basic |
| API Endpoint | GET /v1/macro/monetary |
| Field | m2_nsa |
Overview
US M2 money stock, not seasonally adjusted, in billions of dollars, weekly frequency (FRED WM2NS). M2 includes M1 (currency in circulation, demand deposits) plus savings deposits, money-market deposit accounts, and small-denomination time deposits.
Interpretation
- Rising M2: monetary expansion via lending growth or central-bank balance-sheet expansion — historically the strongest single macro driver of BTC bull markets.
- Falling or stagnating M2: monetary contraction, often preceded by Fed tightening — historically coincident with BTC drawdowns.
- Sharp M2 inflections (2020 expansion, 2022–2023 contraction) have aligned closely with BTC cycle highs and lows.
Use Cases
- Use as the headline measure of US broad money supply for BTC macro liquidity overlays.
- Compute M2 YoY growth rates to identify regime shifts.
- Combine with
macro_fed_balance_sheetandmacro_net_liquidityfor a full liquidity stack.
API Usage
curl -H "Authorization: Bearer YOUR_API_KEY" \
"https://api.blocklens.co/v1/macro/monetary?start_date=2024-01-01&end_date=2024-12-31&limit=365"
Related Metrics
- M2 Money Stock (SA) — M2 money stock, seasonally adjusted ($B, monthly)
- Fed Balance Sheet — Federal Reserve total assets ($M, weekly)
- CPI (All Urban) — Consumer Price Index for all urban consumers (index, monthly)
- Net Liquidity — Fed Balance Sheet minus RRP minus TGA ($M, weekly)