Institutional investors are "buying the dip" in Bitcoin (BTC), with 100,000 BTC ($5.7 billion) purchased in just one week, according to on-chain analytics platform CryptoQuant. The buying spree comes as BTC price action hovers around multi-month lows. Analysts suggest that institutional investors are buying with more conviction than when BTC/USD traded near all-time highs. Despite the recent drop in BTC/USD by up to 23%, institutional investors have increased their exposure since the start of June. The buying trend continued even as Bitcoin hit its lowest levels since late February.