I disagree. If we look at the volume today, it spiked up in 5 minutes and it was most certainly a whale buying up and that's about it. Moreover, BlackRock also said that the demand from its clients to introduce bitcoin was zero. So I don't see that correlation.
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Exactly @anubhavgirdhar I share your view as well, in as much the upward trend is often linked to such news I would love to see a major influx into crypto.
It is sort of inevitable with institutional money waiting on the sidelines for robust and stable custodian.
I wrote an article if you would like to have a look.
https://steemit.com/bitcoin/@anubhavgirdhar/why-a-20-trillionusd-crypto-market-bubble-is-inevitable
I will sure have a look!