Yeah, the FDIC stepped in to make sure depositors are whole and this outraged so many people that they're throwing their money into bitcoin because they can't stand the thought that their money wouldn't be at risk of disappearing into a void. Since the people who stored money in SVB should have done their own risk assessment of the banks finances they're going to ship their own money to some shady offshore exchange with zero public financial information. It makes perfect sense if you think about it.
No - it's opposite. It is up because Feds said no depositors will lose money + added assurance that similar problem wont happen with other banks. Bitcoin is high because trust is regained.
If you look at the two month rolling average or something like that I'm not sure bitcoin is up at all. It's in the same rough range it's been in since June of last year.