I personally think that BTC is becoming more of a store of value (like gold) than one that's used as currency (like cash). I think its deflationary nature is a headwind for BTC being used a currency and it's rise right now also prevents that. I know that I'm not spending any of my BTC at the moment with upside of holding much bigger right now

IMO, institutional support should mean that these gains are here to stay as they're going to buy and store and hold - these guys aren't going to be in and out and can move a ton of money.