Does Bitcoin still require institutions for bullish momentum?

The price rally triggered by the wall street investment spillover, or Elon Musk’s updated bio may have reset Bitcoin’s on-chain indicators. It is likely that the price may reset or rewind in the following weeks. MVRV Zscore chart has allowed Realized Cap, represented by the orange line in the following chart, to catch up with Market Cap, represented by a blue line and that has moved this indicator back to a healthier range, away from the red zone which would have signaled a macro top.
Source: Twitter
This has reset the entire sentiment of Bitcoin’s price rally based on the MVRV Z-Score chart