Is the prophecy beginning to materialize? Are people actually fleeing towards Bitcoin in the midst of a banking crisis?

We had 3 American banks collapse last week and another, First Republic Bank, seemingly in trouble with its share price crashing 70% today. The result? Volatility in the stock market with the SPX opening at -0.5%. At the same time, Bitcoin absolutely surged, the largest rally we've seen in a very long time, up ~20% in 24 hrs at one point with ridiculously large volume. This would have come as a surprise to many considering how strongly correlated Bitcoin had been with the stock market in recent times.

Avid Bitcoin believers have long argued that the fiat system will eventually collapse and people will flock to Bitcoin. Are we seeing a glimpse of it? If I'm going to be honest, I've always felt such predictions were irrational but the market today seemed to suggest otherwise. Bitcoin rallied like no tomorrow in the face of a banking crisis, the first US banking crisis we've ever witnessed during Bitcoin's existence (the most recent occurred in 2008 - before Bitcoin was around).

So is the prophecy starting to play out? Or is this just temporary?