Institutional investors apparently have no interest in altcoins as data from Bybit Research show half of institutional’s portfolio is allocated to Bitcoin.

機構投資者顯然對山寨幣不感興趣，因為 Bybit Research 的數據顯示，機構投資者投資組合的一半分配給了比特幣。

Institutions are more interested in Bitcoin (BTC), than Ethereum (ETH) or altcoins, according to a new data from Bybit Research.

Bybit Research 的最新數據顯示，代理商對比特幣 (BTC) 比以太幣 (ETH) 或山寨幣更感興趣。

As crypto markets have experienced extreme volatility in 2022, institutional investors increased their Bitcoin holdings during the initial three quarters of 2023, a pattern “distinct from that of other users,” the report says.

報告稱，由於加密市場在 2022 年經歷了極度波動，機構投資者在 2023 年前三個季度增加了比特幣持有量，這種模式「與其他用戶不同」。

“Of particular interest is the fact that, in September, half of INS’s asset portfolio was allocated to BTC.”

“特別有趣的是，9 月 INS 資產組合的一半被分配給了 BTC。”

Bybit Research

拜比特研究

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As per analysts, the prevailing positive market sentiment toward Bitcoin can be attributed to “favorable lawsuit outcomes,” as the market anticipates good outcome for spot Bitcoin exchange-traded funds (ETFs). However, retail traders in the meantime “exhibit the lowest holding percentage in BTC” compared to institutions, which might be due to their “comparatively higher leverage levels,” Bybit suggests.

分析師認為，市場對比特幣普遍的正面情緒可以歸因於“有利的訴訟結果”，因為市場預計現貨比特幣交易所交易基金（ETF）會取得良好的結果。然而，Bybit 表示，與機構相比，零售交易者同時“表現出最低的 BTC 持有比例”，這可能是由於他們“槓桿水平相對較高”。

It appears institutions have also started slowly allocating their funds to Ethereum since Sept. 2023, but analysts think this surge of activity may have to do with institutions’ “general upbeat sentiment toward crypto” as VIP and retail traders are demonstrating lack of interest in Ethereum since the Shanghai upgrade (also known as “Shapella”).

自2023 年9 月以來，機構似乎也開始緩慢地將資金分配給以太坊，但分析師認為，這種活動激增可能與機構「對加密貨幣的普遍樂觀情緒」有關，因為VIP 和零售交易者表現出對以太坊缺乏興趣自上海昇級（也稱為“Shapella”）以來。

For the research report, Bybit generated data based on its active users base from Dec. 2022 – Sept. 2023. VIP traders are said to be investors with holding portfolio worth more than $50,000.

在該研究報告中，Bybit 根據 2022 年 12 月至 2023 年 9 月的活躍用戶群產生了數據。據說 VIP 交易者是持有投資組合價值超過 50,000 美元的投資者。

Meanwhile, crypto industry executives have declared the start of a new bull run, with more voices calling for new all-time highs for Bitcoin above $100,000 in 2024. For instance, Pascal Gauthier, CEO of Ledger, noted in an interview with CNBC that 2023 was a year of preparation for the growth ahead, adding that the sentiment for 2024 and 2025 is “very encouraging.”

同時，加密產業高層宣布新一輪牛市即將開始，越來越多的聲音呼籲比特幣在2024 年突破10 萬美元的歷史新高。例如，Ledger 執行長Pascal Gauthier 在接受CNBC 採訪時指出，2023 年比特幣價格將達到10 萬美元以上。今年是為未來成長做準備的一年，並補充說 2024 年和 2025 年的市場情緒「非常令人鼓舞」。

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