That's the long process Bitcoin has gone through to continuously reach new ATHs. Those who never believed and were pessimistic about Bitcoin reaching $100k must have been slapped in the face by the end of last year. Those who thought the market trend would immediately collapse after Bitcoin reached $100k are surely holding their heads now as they watch Bitcoin continue to grow.
Everyone is certainly excited when Bitcoin continues to reach new ATHs. $120k is so close, it's within reach.
Bitcoin is the true representation of " patience pays". It's not everyone that can withstand the pressure attached with investing in it and like you said that those who regarded it as bad and a bubble that would burst are now regretting it or have turned around to invest.
Institutions are now taking Bitcoin seriously and who knows this might push others who are still skeptical about the coin to join the train. I have the feeling that we'd see price climb to $120k this week.