Chinas central bank injected fresh liquidity into the financial system on Friday, but the move failed to provide an immediate boost to Bitcoin. The Peoples Bank of China (PBOC) used overnight reverse repos for the first time in the middle of a month, injecting roughly 350 billion yuan. The facility allows the central bank to lend money to commercial banks for one day, with repayment due the following morning. More liquidity is already scheduled. The PBOC plans additional operations from August 17 through August 19, with each day capped at 600 billion yuan, or approximately $88 billion. Across… Read more
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