Aggressive profit-booking sent Bitcoin (BTC) spiraling below $29,000 on  Jan. 21 but was this a sign that institutional investors dumped their positions? This is one of the main questions bothering traders because large institutional inflows primarily led the run-up to $42,000.

Cointelegraph contributor Marcel Pechman analyzed derivatives data from various exchanges, which showed professional traders might have purchased at lower levels. The fall seems to have particularly hurt the…