---
title: Weekly liquidity update (by our Chief Economist Adrien Pichoud)
description: "➡️ Global M2 proxy flat again this week, still supportive for equities and bitcoin over the short-term\n➡️ The S&P500 has been “catching up” our global M2 proxy. Our Global M2 proxy continues to point to supportive liquidity dynamics for risk assets in the weeks ahead.\n➡️ The link between our Global M2 proxy and the Bitcoin continues to hold remarkably well and to point to more upside potential for the BTC. \n\nNB: These are NOT investment recommendations. A broad range of factors need to be taken into account before taking any investment decisions"
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [Weekly liquidity update (by our Chief Economist Adrien Pichoud)](https://blog.syzgroup.com/syz-the-moment/china-has-just-reported-its-largest-two-month-copper-imports-in-history-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0)

 Written by [Adrien Pichoud](https://blog.syzgroup.com/syz-the-moment/author/adrien-pichoud) | May 19, 2025, 2:24:06 PM

[View full post](https://blog.syzgroup.com/syz-the-moment/china-has-just-reported-its-largest-two-month-copper-imports-in-history-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0)

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