Cryptocurrencies represent digital currency that enables owners to have complete control without the intervention of banks or other institutions, offering opportunities for direct payments, trading, and savings. Analyzing the legal aspects of cryptocurrency trading worldwide, it was concluded that no cryptocurrency has been adopted as a national means of payment, and the fundamental characteristic of cryptocurrencies remains their uncertain value. This thesis explores cryptocurrencies as a new form of digital currency and the impact of the quantity of US dollars in circulation on the price of the Bitcoin cryptocurrency. A research problem was posed, and an analysis of the relationship between changes in the quantity of dollars in circulation and fluctuations in the price of Bitcoin was conducted. The connection and interdependence of these two variables were analyzed using Pearson and Spearman correlation. The results of the analysis indicate a moderately strong negative correlation. Based on the obtained results, it can be confirmed that market liquidity plays a crucial role in encouraging frequent trading of Bitcoin. When the market has high liquidity, i.e., a large number of participants willing to buy and sell, the execution of trading orders is facilitated.