Quick Take
The People’s Bank of China’s (PBoC) continued liquidity injections into the market have been observed to coincide with significant movements in Bitcoin’s price.
For instance, analyst Alessio Urban noted on Oct. 24 that as the PBoC’s liquidity injections surged, Bitcoin simultaneously broke above the $30,000 mark. A similar pattern was noted earlier this year, with a significant increase in PBoC’s liquidity that was followed by a rise in Bitcoin’s value. This expansion coincides with Bitcoin’s recent success, which isn’t solely attributed to liquidity injections but also to ETF inflows, as noted by Urban.
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