Logic is: Market was in uptrend entire year, bank crisis fucked it, bank crisis wasn't real, it was just SVB poor management, deposits are returning, fed loans are being returned, market reverses the loss, bears threw life savings into puts for some reason, short squeeze. Bulls realize the strength of this market, they don't want to be left behind because market is already down -20% from the highs so it's not a bad buying oppurtunity anyways.