This market cap is nothing for Bitcoin. By the way, it's now 1.39 trillion dollars. We are just 10 days away from halving, Bitcoin can indeed go a hell lot higher. But, while Bitcoin's trajectory may be unpredictable, the past history has shown a strong growth in long term, unlike any other traditional assets.
I like how everyone are bullish with Bitcoin but then forget how they bullishness(if there is any word like that) if Bitcoin happen. There is a usual heavy correction of Bitcoin in the day of halving or when 2 days before then. Most of the time, the whales take out their money from the market and watch how the markets behave before they start another bull run and because the correction is usually heavy, they don't like to stay in Bitcoin, prefer to buy at the bottom.
However, I feel that the comparison to the combined market value of the world's largest banks underscores the transformative potential of cryptocurrencies. Additionally, the expectation of a fresh wave of investors drawn to Bitcoin's perceived store of value suggests sustained demand and potentially more pronounced price movements. But at the end of the day, it's a roller-costar ride as we all know. Especially while day trading.
There should never be a comparison of any Bank to Bitcoin because it doesn't even make sense because Bitcoin is for all, no resistance, no middle and anyone is permissible to buy but banks are restricted to a jurisdiction and all the money in that bank is own and control by some people, if we combine the total market of the banks and compare it with Bitcoin, it will make Bitcoin not making sense because Banks can print more money and more Bitcoin can't be printed because it's prohibited by the protocol to do that, it will remain 21 million total supply.