Bitcoin Holds Steady Above $49K as BOE Hikes Interest Rate; ECB Decision to Come

Bitcoin Holds Steady Above K as BOE Hikes Interest Rate; ECB Decision to Come
Bitcoin was trading little changed after the Bank of England’s surprise decision to raise interest rates by 15 basis points to 0.25%.The largest cryptocurrency by market value is changing hands near $49,200 at press time, a 0.6% gain on the day.The BOE’s Monetary Policy Committee voted 8-1 to increase the bank rate to 0.25% and by 9-0 to maintain the amount of quantitative easing at £895 billion.The central bank was expected to keep the rate unchanged at a record low of 0.10%.The surprise increase challenges the narrative that central banks prefer to raise interest rates only after the end of…