Of course, a lot has change then, even bitcoin's narrative has shifted as well, and again, it could still be a speculative asset, and now its becoming a leverage for big companies to hedge as reserve assets. That's why it can quickly bounce back from temporary dips unlike a few years ago, when that happen, investors are afraid to go in and think bitcoin is dead.
Talking about the huge gap between supply and demand,
https://www.coindesk.com/crypto-buyers-face-possible-limitations-on-etoro-this-weekendYeah.. I checked the article about eToro. A number of local exchanges are facing liquidity issues. Even here in India, the markup for purchasing Bitcoin through various P2P platforms have risen from 2% to more than 20% ever since the current rally started. Larger exchanges are still maintaining the liquidity. But in the smaller exchanges, there is a huge gap between demand and supply.