The most dramatic feature on this chart is the unprecedented 2020-2021 M1 expansion, when the money supply increased dramatically due to pandemic stimulus and a change in how M1 was calculated (including savings accounts). This extraordinary expansion preceded Bitcoin's dramatic rise from under $10,000 to over $60,000. The subsequent slowdown in M1 growth in 2022 coincided with Bitcoin's bear market, suggesting a relationship between money supply growth rates and Bitcoin performance.