Speculators have flipped net long on the Japanese Yen for the first time in 6 months, swinging from -163,412 contracts net short on August 2 to +𝟭𝟬,𝟳𝟵𝟲 contracts net long in the week ending September 8. 𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: The 𝟭𝟲𝟯𝗞-𝘁𝗼-+𝟭𝟭𝗞 swing in 5 weeks is a massive sentiment reversal driven by growing BOJ hike bets. The key transmission channel to crypto is the 𝗰𝗮𝗿𝗿𝘆 𝘁𝗿𝗮𝗱𝗲 𝘂𝗻𝘄𝗶𝗻𝗱 — Yen-funded carry trades were a primary driver of the August 2024 volatility spike when the BOJ last hiked. A repeat could trigger risk-off flows into BTC and other risk assets. With the Fed decision tomorrow at 90% hike odds, the USD-JPY dynamic becomes a two-sided carry unwind risk. BTC faces indirect pressure from any carry unwind. Watch BOJ commentary in coming weeks for any explicit hike timeline. source: KobeissiLetter Track real-time signals & trade → https://hupzy.com/trending?utm_source=x&utm_medium=social&utm_campaign=agent_x_post&utm_content=2542