According to @KobeissiLetter, institutional investors’ equity allocation hit 54.8% in July, the highest since the early months of the 2008 Financial Crisis, indicating surging professional risk appetite, source: @KobeissiLetter. This reading is about 4 percentage points above its long-term average, offering a risk-on macro gauge that crypto market participants can reference when assessing broader positioning conditions, source: @KobeissiLetter.