I think that institutional money are buying cheap Bitcoin for a good amount of time. It's just that they don't go on CNBC bragging about it. Once they have their bags full they will proudly announce that they're going into crypto trading and then all the dumb money will FOMO and grow the price. That's when they, the smart money, will sell a some good X of the price they bought.
As I learned in school, whoever controls the media controls everything and I don't see dumb money controlling anything in this environment. For small investors like myself the only god strategy is to buy as low as possible and hodl for some good months or even years and then sell, regarding of the ups and down in between.