BTC is nascent. It's got two use cases right now:
Satoshi's original intent:
A hedge against Central Bank Monetary policy malfeasance. This is about 99% of its use. BTC loosely mirrors M2 money supply and has also developed into a risk-on leading indicator. It even leads the NASDAQ.
The other 1% of use is to bank the unbanked through Lightning. It's the only digital asset liquid enough to do this.
It will not work as an inflation hedge for a while. It has to leech more excess money supply on the next printing regime and that could be years off due to inflation.
Use case 2 will grow in size as it leeches off malfeasance.
The really interesting thing to watch right now is DXY. If DXY continues its rampage and credit markets disintegrate, there will likely be something akin to Plaza Accord 2.0. Would willful devaluation of the dollar and revaluation of other currencies, even nominally, cause a blow off top?
Because theoretically, BTC could remain the true indicator of DXY strength outside of political agreements.
I think it's likely honestly. Brent Johnson's Dollar Milkshake Theory has been incredibly accurate, political debasement of wealth and currency could push the milkshake out of the dollar and into other assets, including metals.