[Analysis: Bitcoin Traders Should Watch BOJ Rate Hike, Yen Short Positions Hit Nine-Year High] According to CoinDesk, Bitcoin traders should pay attention to the Bank of Japan's interest rate decision on Tuesday this week. As of the week ending June 9, speculative yen short positions held by leveraged funds rose to over 115,000 contracts, the highest since November 2017. If the Bank of Japan raises rates to 1% as expected and signals further tightening, these short positions could be closed, triggering a yen rally and impacting yen-funded carry trades. Carry traders borrow yen to invest in high-yield risk assets, which have fueled Wall Street and bond market bull runs for years and are also believed to support the crypto market. After the BOJ rate hike in July 2024, rapid unwinding of yen shorts led to a sharp yen surge, causing significant volatility in Wall Street, the Nikkei Index, and the crypto market. Bitcoin dropped from around $65,000 to $50,000 within a week.