$BTC is increasingly resembling a substitute for the US dollar, rather than a competitor!
The Federal Reserve is printing money, while Bitcoin is gaining trust; the US government is loosening restrictions, and Bitcoin has become one of the few assets with an 'official ticket' to entry.
This is a victory of consensus, and also a concession of the system. In the past, it was against the US dollar, now it is filling the role of the US dollar. The financial status of BTC has quietly changed.
At the end of the year, $170,000 is the endpoint of a logical closed loop.
