The US money supply just hit a new milestone: M2 climbed $1.65 trillion throughout 2025, landing at a record $26.7 trillion. That's the biggest jump since 2021, making three consecutive years of expansion. What's driving it? Bank deposits and money market funds have been surging. Looking back further, since mid-2023 alone, M2 has ballooned by $3.7 trillion. This kind of liquidity flood typically reshapes how capital flows across asset classes—including crypto markets where investors constantly hunt for yield and alternative investments.