The number of unconfirmed transactions on the mempool directly proportional to the market condition and bitcoin price.
it won't last long until the next bull run takes place and the price suddenly increases break the resistance level at $16K, which causes the mempool will be flooded again, consequently require higher fees and a longer time to get confirmed.
The price is itself is irrelevant to the state of mempool. We had congestions at low price levels and clear mempool at higher prices. So, the connection isn't direct, sometimes a lot of price action results in more transactions, and sometimes it does not. If many investors move coins to exchange, and/or many investors move coins out of exchanges, that results in more transactions, but if people keep trading on exchanges without moving coins, there won't be a congestion.