The dollar weakened, so assets denominated in dollars went up, all things else being equal. 

Fundamental issues as I see them:

1. Bitcoin is a poor unit of account because it is too volatile (although this is decreasing)
2. Bitcoin is a poor medium of exchange (network capacity of 7 TPS is far too low)
3. Bitcoin is a poor store of value (not enough liquidity to be an easily marketable commodity)

This seems strange considering Bitcoin's properties of being recognizable, transportable, fungible, divisible, and scarce. 

It seems to me that the most likely path to mainstream adoption would be through microtransactions, when a unit of account need not be closely correlated with store-of-value, but of course nobody wants to invest in microtransaction applications with the network capacity/block size limit uncertainty.  It's impossible to build a business model based on an unknown fee structure.