What is the effect of M1 money supply on the crypto market?

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Checkout the M1 money supply chart, it looks crazy. In my current understanding, with a big supply increase, there is a big inflation increase (which is already happening) , USD devalues and crypto should go up. But if everything crashes due to inflation, debt bubble and people not affording their bills, then I guess many would sell crypto and actually crash the crypto market lower than it is now. Maybe there is someone with more detailed and precise insight about the effects and meaning of this chart’s behavior?

Chart: https://fred.stlouisfed.org/series/M1SL

View Reddit by Kukatieza – View Source



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