Japan just hiked rates to a 31-year high and $BTC pumped immediately

But here's the real story: yen carry trades are unwinding and this could get messy

For context - traders have been borrowing dirt-cheap yen for years to buy higher-yielding assets (including crypto). Now that Japan's tightening, those positions are getting squeezed

Short-term bullish for $BTC as liquidity rotates
Medium-term? Watch for forced liquidations if yen strengthens too fast

This isn't just another rate hike. The yen carry unwind could trigger cascading deleveraging across global risk assets

Keep your eyes on USDJPY and volatility spikes