As is common in the stock market: buy the rumour, sell the news

Those people that thought institutional money would flood into bitcoin on the first day are just silly.

These investors know that the news was already priced in, so for the time being bitcoin was overbought.

So they wait until the price drops until it has reached their predetermined price point. And then they will slowly build.

These guys think in years or even decades, not days. They have time to wait until the weak hands have given up.

A year from now things might be a lot more interesting.