Sneeky institutional/hedgefund investors are most definitely buying on the dips from weak hands i.e. the average Joe who's been in the market for the past 2 years or so that thinks they need to be taking profits because bitcoin can't keep going up.

The smart money (who are a little late to the party) know for sure that trying to get cheap BTC from some sort of crash is looking less likely, so better to take an initial position and if a mini crash comes along to then buy up, but all they're getting at the moment is dips!