Will Bitcoin benefit from a European Central Bank rate cut?
The ECB is widely anticipated to implement a 0.25% rate cut this week, following seven consecutive months of inflation easing across the eurozone.
Bitcoin inflows could see an increase this week following a key monetary policy decision in the European Union.
The European Central Bank (ECB) is expected to cut interest rates by 0.25% to 4.25% on June 6. The rate cut could boost investor appetite for risk assets, such as Bitcoin (BTC), according to Jag Kooner, head of derivatives at Bitfinex. Kooner told Cointelegraph:
The rate cut expectations come during a period of slowing inflation in Europe. May’s headline Consumer Price Index (CPI) is expected to come in at 2.6% — potentially marking the eighth consecutive month of inflation below the 3% mark.
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Author: Zoltan Vardai
