President Trumps work is a good news to bitcoin. If the price of dollars increase in value then using simple logic since bitcoin is backed up by dollar then the value of bitcoin is also increasing. Though the United States of America cannot really felt the impact on bitcoins but to us living in the third world country the conversion of bitcoin to our local currency will also increased.
Bitcoin is not backed up by the dollar. The dollar just happens to be the currency against which bitcoin is mostly traded.
I am not sure if Bitcoin will benefit from Fed interest rate hike. Usually, when interest rate goes up, risk tolerance comes down.
I think the FED are bluffing on more hikes.