But did you see how quickly we rallied away from $30K. If you were watching the markets and looked at Coinbase, it was leading price by $200-$400 during certain points. Basically right before we dipped to $30K and rallied away from again. So I am thinking some other fund has invested in BTC below $30K.
Even so, it wasn't much of a rally. The market dipped back below $31K already.
I have no doubt there are still institutional inflows coming in, but the combination of those inflows slowing and retail/momentum traders unwinding long positions is likely still pressuring prices down. I'm definitely not convinced the January 22nd low in the $28Ks was the bottom. There could still be a capitulation coming.