I wouldn't say it's not significant anymore; it's just lower compared to the past pumps that the rest of the cycles had. Realistically speaking a 10x increase is around 600k ish from this point, I definitely don't think we'd be seeing such a price point for the next few years, let alone the next few months. Can still smell 100k for next year at least though.

The cycle still definitely applies though (or can still be used as a reference). Just as you've said, it just looks like it doesn't because of how weak it is compared to past cycles.