Bitcoin prices have recently shown a strong 30-day positive correlation with the balance sheet of the People's Bank of China (PBOC), with a coefficient of 0.66. This trend has been consistent over the past eight years, except for brief periods in 2016 and late 2022 to 2023. The correlation has drawn attention as the PBOC plans a massive stimulus injection of up to 1 trillion yuan ($142 billion) to boost its economy. This potential economic boost could drive up Bitcoin prices as investors may seek riskier assets, including cryptocurrency, as part of a broader market upswing.