China Injects $52 Billion, Bitcoin Drops Again

China's central bank injected $52 billion into its banking system through an overnight reverse repo on Friday, but Bitcoin fell by 1.7% to $62,605.

The People's Bank of China (PBOC) used this tool for the first time in mid-month and will repeat it over three more days, each capped at near $88 billion.

Bitcoin has previously fallen after such injections, with a 2.26% drop to $58,504 following the PBOC's June operation.

Analysts describe Friday's move as 'tuning rather than easing', aiming to smooth liquidity without overflood the market.