Global liquidity is up $10T since the beginning of the year. 
$10 trillion is enough to buy all of bitcoin 10 times over.
The price of bitcoin is clearly lagging behind global liquidity. Things are looking normal.

 https://image.nostr.build/99446b4b5d20d487d88f2fa6f77bd3f95a397a124de19bf3d747fe15e658208e.png