They actually know what they have been doing and they also were aware that they are late comers so they have to compete with each other while they also have disadvantage than earlier comers including both retailed investors and institutional investors. Jn any market, there are buyers and sellers while about market makers, there are competition among them as well.

Bitcoin Spot ETFs have brought more institutional investors into this market and this levels up institutional competition in their Bitcoin accumulations since January 2024. It will certainly increase considerably in their competitiveness level in future when less bitcoins will appear in new supply from mining and new blocks while with more new investors, demand of accumulation will definitely soar over years and cycles.