I personally don't agree as to why it couldn't drop below institutional entry price; there is enough BTC outside their holdings to move the price if it is going to be moved? These institutions may not sell in panic, but they may just hold through the dip; which means they will be inactive and therefore un-involved in price movements.
Im sure when it's say institutional, their holdings are technically bulk coins of bitcoin. If market is consist of traders and whales they can be considered too as huge holder, and probably some of them have locked their asset through some firms. That's my personal opinion. We can't simply turn down bitcoin to 3k cause we wanted it to dump. It will take longer to do that, and many will be surely buying it again. But that is not gonna happened for a while now.