UK's broad money supply just posted something worth noting. The M4 measure (excluding those pesky intermediary financial flows) jumped to 4.7% annualized over the past three months. That's up from 4.4% previously.

Not a massive swing, sure. But when liquidity metrics tick higher, markets tend to pay attention. More money circulating? Could mean looser conditions ahead. Or maybe just seasonal noise. Either way, the trend's pointing upward for now.

For anyone tracking macro signals—especially in crypto where liquidity matters—this sort of shift in traditional finance indicators can ripple outward. Central bank watchers are probably already recalibrating their models. The question is whether this momentum holds or fizzles out next month.