Analysis shows that in the past four hours, 66% of Bitcoin traders chose long positions, indicating a bullish sentiment in the long-short ratio

The Bank of Japan's interest rate hike is generally considered unfavorable for risk assets, as it may lead to an increase in the cost of borrowing yen and trigger the unwinding of arbitrage trades. However, after the Bank of Japan raised interest rates, the price of Bitcoin rose from $85,200 to $88,000 within five hours, indicating that the expectations of the rate hike have been priced in by the market. Investors are not in a hurry to convert risk assets into yen. The Bitcoin long-short ratio (the ratio of net long accounts to net short accounts) shows a bullish tendency, with 66% of traders choosing long positions in the past four hours.