Basically what you said is true and for now the market is still in a bearish condition and that seems to be making some people hesitate to invest,
investing in Bitcoin is always a good choice and whether it is profitable or not depends on many factors
In addition, there are a large number of people who are distrustful of cryptocurrency. And it is those who will continue to place their money in the bank at 1% per annum, which will be devalued by inflation.
They don't trust cryptocurrency because they don't know about it. They are also unfortunate that no people nearby them open up this topic or even teach them the basic that's why they end up doubting it because they are unfamiliar also doesn't know what to do about it. Maybe if there's great adoption will come and crypto education will take place on their country especially to their cities for sure many people who doubt it will slowly adopt crypto on daily basis. Banks are dominant because they are the traditional and most common known to people so its not surprising at all that many still pick this even they know that they can only get small returns with their money deposited there.