Posted 12/4/2023, 1:54:08 PM
Bybit: Institutions Favored Stablecoins and Bitcoin in Q4 While Retail Traders Shied From BTC
- Cryptocurrency exchange Bybit released its Q4 report showing institutional traders had 45% assets in stablecoins, 35% in BTC, 15% in ETH, 5% in altcoins
- Institutional BTC holdings spiked in September, aligning with positive market sentiment toward Bitcoin
- Retail traders had lowest BTC holdings percentage-wise compared to other Bybit users
- As BTC prices climb, interest from major institutions seems to be rising
- Brazil's largest bank Itaú Unibanco launched BTC trading service for investment platform clients