According to the book of Enrique Valdecantos, the injection of institutional money can represent one of the first laws that Wyckoff proposes and fulfills in the market, which is: Law of Effort-Result, which, Strong Hands raise price with a high volume to verify the offer, see if they can test the zones with different prices.
But what most of these people on the sidelines are waiting for is in fact the entrance of
new institutional money. Taking into account Strong Hands would take the assumption that institutional money is already inside, but that they will now continue to accumulate, and when that accumulation starts in a cyclical period of intensity, that's when the Result begins to show.
If you believe in the strong hands and accumulation theories, then you surely can't believe we're still waiting for institutional money.