Institutional traders are a significant force behind the recent bullish market trend, according to a research study by Bybit. If you didn't catch the insightful conversation our Institutional Head, Eugene Cheung, had with Asharq Business ?????? ?????, here are some crucial takeaways about investors’ trading behaviors and patterns: ? In 2023, Bitcoin established itself as the best performing asset class, posting a year-over-year increase of over 100%. ? Findings from our most recent report indicate that institutions increased their Bitcoin holdings nearly twofold in the first three quarters of 2023, shifting from approximately 30% to around 50%. Meanwhile, retail traders held the most in stablecoins. ? We also noticed a substantial surge in our trading volume, which now averages around $10 billion per day, with peaks reaching up to $33 billion. ? Both retail and VIP traders are also expanding their altcoin portfolios but only to a limited extent, indicating caution due to recent market downturns. Why do traders invest in cryptocurrencies, particularly Bitcoin? ? The positive correlation between the price of Gold and BTC is the main driver for the demand. ? BTC is also the backbone for many cryptocurrencies and blockchain technology appeals as more attractive for the rewards potential. ??? Eugene also pointed out: "Institutional investors have been actively adjusting their investment portfolios in 2023, with a keen emphasis on liquidity and diversification, particularly with a rise in their Bitcoin holdings. On the other hand, retail traders seem to be taking a more conservative stance by maintaining a larger proportion of stablecoins in their possession, signifying a strategy that is cognizant of potential risks." ?? Watch the full recap?? https://asharq.co/mh8rz #TheCryptoArk #BybitInstitutional #Bitcoin #BullMarket
