Bitcoin traders have a reason to watch Tuesday's BOJ rate decision. Yen shorts are at a nine-year high
Hex37's read
- Speculative short positions in JPY are at a nine-year high.
- A BOJ rate decision on Tuesday could trigger a short squeeze.
- Unwinding carry trades could impact risk assets.
What it means for traders
- A BOJ hawkish surprise could lead to a short squeeze in JPY, potentially benefiting risk assets like BTC.
- Traders should monitor JPY volatility and its correlation with Bitcoin around the BOJ announcement.
Affected markets
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