According to @KobeissiLetter, global managers’ cash allocation fell by 0.4 percentage points in December to 3.3%, the lowest since the data began in the 1990s, and is down 1.5 percentage points since April (source: @KobeissiLetter). According to @KobeissiLetter, this positioning indicates institutions are “all-in on stocks,” reflecting an elevated risk-on stance in equities (source: @KobeissiLetter). Based on @KobeissiLetter data, independent analysis highlights that this equity risk-on backdrop is a cross-asset signal crypto traders monitor for liquidity and beta sensitivity in BTC and ETH (source: @KobeissiLetter).

According to @KobeissiLetter, institutional investors’ cash allocation has fallen to 3.8%, a 12-year low, signaling reduced preference for cash versus risk assets (source: @KobeissiLetter). According to @KobeissiLetter, global debt jumped by $14 trillion in Q2 2025 to a record $337.7 trillion, while rate cuts are expected to arrive into a stagflation backdrop and the Federal Reserve’s independence may erode (source: @KobeissiLetter). According to @KobeissiLetter, this macro mix is pushing flows toward stocks at record highs, gold, silver, and crypto, with the stance summarized as “own assets” (source: @KobeissiLetter). According to @KobeissiLetter, corporations are investing hundreds of billions into AI and governments are likely to join the AI arms race, implying additional money printing that could support hard assets and digital assets (source: @KobeissiLetter). For traders, according to @KobeissiLetter, the thesis implies potential tailwinds for the crypto market as fiat purchasing power erodes and liquidity stays loose, making rotation into digital assets a key risk-on theme to monitor (source: @KobeissiLetter).