We all know that institutions can definitely not be buying at the peaks, and for the fact that this space is more speculative in nature, decentralized, and no much regulation, trying to manipulate the value to their advantage by shaking out weak hands mostly, is something we will get to see.
How do you know they can't be buying at the top? It's not very likely because they usually have more sense in them, but they may have been fomo'ing just as hard as regular joes.
Circle (which is backed by the most powerful financial institutions) acquired Poloniex for an insane $400 million, which is a clear miscalculation on their end.
Private futures contracts between institutions and miners makes the most sense with how both parties end up with the certainty that they get what they want, because we all know how crazy this market can be some times. It also demonstrates the proper usage of futures contracts, which can't be said about the lame ass casino shit being offered by CME & CBOE.