It really shows that while people are waiting for institutions to enter this market, they have been here all the time.
Some institutions were here. There's plenty more institutional money that can be invested into crypto, with the benefit of both sides.
But.. (yeah, there's always a "but") : institutional investors are seasoned investors. They are clearly not HODLers. When the price is good for buying, they'll buy. If the price is good for selling, they'll sell. And since it's unregulated area, they also afford to play dirty (from FUD to fake buy/sell walls and maybe even pump-and-dumps).
That's also why, although many don't like to hear about that, we may need proper regulations for these markets.