Possible. However, Tether has closed registrations for months now. I´d argue that it is likely
that this isn´t institutional money, because an institutional investor, who decides to invest 50M $
right now would still be buying at a magnitude of the price levels a year ago. Institutional investors
are mostly conservative investors, which is understandable because most have strict investment guidelines and
are not in the business of buying things that are up more than 10x year-on-year.
There's more than one type of institution. I'm usually thinking of secretive hedge funds hiding out in Connecticut when I use that word in relation to crypto. Also, traders who know what they are doing usually work for themselves.
As nrd525 pointed out if you're skilled enough you can make statistics say anything you want. If the person publishing that can't even put their name to it I'm not going to waste my time talking about it.