Bitcoin's Price Rises, Dollar Weakens Amidst Fed's Rate Decisions

Bitcoin's price is approaching $38,000, the level last seen in May 2022, due to expectations of increased demand from exchange-traded funds (ETFs). The dollar remains steady but vulnerable after the Federal Reserve's hawkish rhetoric shift last week. The US dollar dropped to a six-week low after softer-than-expected jobs data, reinforcing expectations that the Federal Reserve will hold interest rates steady at its December meeting. The dollar is easing as traders believe the Federal Reserve is done with rate hikes.