Bitcoin is hovering around $38K as the Australian Central Bank ended a bond purchases, but indicated it will not be making interest rate rises in the near future.

After Australia’s Reserve Bank (RBA) terminated its quantitative easing (QE) bond-buying program, the bitcoin price underlying cryptocurrency held steady early on Tuesday. Concerns surrounding price stability were addressed as well.

RBA’s choice to end QE comes after a time period of intensified market tensions in the U.S. Last Wednesday, the Federal Reserve restated its commitment to end its bond purchases in March and set a timeline for a rate increase in the same calendar month. Markets are now priced for 5 quarter-point hike in Fed regular rate in three months later.

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