I think, we are somewhere at the middle of this year bullrun. All in all, the world got crazy. Mining again became extremely popular. Prices for videocards and laptops with Nvidia graphical adapter are off the charts. People buy them to mine even something. Everyone wants to possess crypto.
It's an indication that we're in the bull run. Graphics cards are still out of stock for some places and it's harder to get one once they're under re-stock, there are hoarders that are taking those stocks immediately.
Like in 2017, when there's a huge demand for GPUs, it's the same as today. The profit for mining has been so good and there are the newest releases for GPUs which are better in hash rate. While we're still at the bull run, it will remain affected by it. Let's see if bitcoin will last at $40Kish and will likely hit $50k soon or it will drop down to $30Kish.