The bitcoin price is struggling to stay above the $61,000 mark, despite a rally in European equity indices, as the Bank of England held rates steady and hinted at a possible rate cut in the summer.

Major European and UK equity indices were green on Thursday. In London, the FTSE 100 posted a 22.19-point increase to 8,393.39 in mid-day trading, a fresh all-time high. The regional Stoxx 600 index traded up in Europe, gaining 0.15% in the day, to 516.54.

On Thursday, the BoE announced it would keep interest rates steady at 5.25% for the sixth time in a row and said it would continue its "wait and see" approach until it feels that the conditions necessary to cut the base rate are met.

However, the central bank's governor, Andrew Bailey, hailed "encouraging news" on inflation and hinted it …