its not really about FOMO demand

there always have been many people for months now willing to pay well over $100k/btc
these are people such as those in the pacific islands who's mining costs are $400k and so any coin at market rate way below $400k is seen as discount

the reason why the price hung down below$100k recent months is not lack of demand. but instead "WHALE WALLS" creating a resistant barier of large market orders whereby the price could not pass such limits.

simply having the whales remove their walls allowed the price to move freely up

..
the question you may now be asking is why would whales put in such wall size orders to prevent the free movement of trade prices.. the answer is the whales wanting to short the futures market and also buy cheap in a controlled price..

now they have their fill, they are willing to let the free market open up a bit and rise