China Injected $52 Billion and Bitcoin Fell, Three More Days Are Scheduled

China’s central bank injected a net 348 billion yuan, about $51.7 billion, into its banking system on Friday. Bitcoin (BTC) fell 1.7% anyway. It was the first mid-month use of overnight reverse repos by the People’s Bank of China (PBOC), according to Bloomberg.

Three more injection days are already booked, each capped near $88 billion. Bitcoin (BTC) Price Performance. Source: BeInCrypto Beijing Already Booked Three More Injection Days Start with what the tool actually does.

An overnight reverse repo is a one-day loan from the central bank to commercial banks. The banks repay it the next morning.

BREAKING 🚨: China People's Bank of China just injected 348 billion yuan ($52 Billion) into their banking system through overnight reverse repos, their first mid-month injection in history 🤯 👀 Dear God!