According to @CryptoKing4Ever, Bitcoin is as undervalued against global liquidity now as it was at the 2018 bottom, implying a macro generational floor may be forming, source: @CryptoKing4Ever. BTC’s 2018 cycle low occurred in December 2018, providing the reference point for the comparison in the post, source: TradingView. The post does not include any underlying dataset or chart to substantiate the undervaluation versus global liquidity claim, source: @CryptoKing4Ever. In liquidity-based macro analysis, the Bank for International Settlements defines global liquidity as the ease of financing in international markets through cross-border credit and funding in key currencies, which market participants use to gauge risk-asset sensitivity, source: Bank for International Settlements. Traders applying this framework typically validate such a thesis by monitoring BIS global liquidity indicators alongside major central bank balance sheets as proxies for system-wide liquidity before positioning in BTC, source: Bank for International Settlements and Federal Reserve.