Bitcoin rises with stocks as market anticipates ECB rate cut this week

Major European and British stock indexes rose on Monday. London's FTSE 100 index rose 13.48 points to 8,288.86 in early trading. The European Stoxx 600 index rose, up 0.44% on the day to 520.44. Bitcoin prices rose more than 2.25% in the past day, trading at $69,035 at 7:15 a.m. ET. Jag Kooner, head of derivatives at Bitfinex, said that under economic pressure, Bitcoin usually reflects stock market trends as investors liquidate assets, and in an environment driven by stimulus policies and low interest rates, Bitcoin may benefit along with stocks due to increased liquidity. Jag Kooner added that Bitcoin is also seen as a hedge against inflation, and if the European Central Bank's rate cuts lead to rising inflation expectations, then Bitcoin may attract more investment because it has been seen as "digital gold." (TheBlock)