They were FDIC insured and the Government marked them as fully compliant.

FDIC has a cash reserve of 208 Billion USD but it has taken a guarantee of 10 trillion USD.

The FED Funds Rate is 4.75 right now. This is very high, on a relative scale. The thing that broke the market - and broke these banks - was how quickly the FED moved us from negative, 0 and then to this 4.75 rate. It was an unprecedented rate of increase.

It killed the small banks. Helped big bans and now eventually the Big banks rout unfolds.

The rumor now is that this is about to take place, so assets - especially risk-on assets like BTC - are pumping in anticipation.

BTC somehow finds a trigger and considering the timing and the upcoming cycle it is poised to make further grounds.