Bitcoin remains relatively resilient, having priced in the Fed's hawkish tilt in advance.
Tesla accepting bitcoin payments and running its own nodes is "massively bullish," according to one analyst.
"Backing the dollar is the world's biggest, deepest and the most transparent government bond market," said Marc Chandler, chief market strategist at Bannockburn Global Forex and author of the book "Making Sense of the Dollar."
Sell-off in the U.S. dollar and ether's price rally power gains in bitcoin.
The bitcoin price could pull back even further should the dollar stage a full-blown recovery on the back of the latest Fed meeting.
The noted analyst says a possible end to the U.S. dollar-ruled financial system is "frightening, yet the probability is quite high."
The dollar index dropped to its lowest level since May 2018.
Thousands of new users are turning to bitcoin, according to Kraken and other exchanges, over fears that government stimulus will lead to inflation.
Demand for gold is skyrocketing and the clamor for scarce assets in a remote-first world was precisely where bitcoin was supposed to shine. But it's complicated.
BOE governor Mark Carney called on Friday for the creation of a wholly digital alternative to the U.S. dollar.