Analysis: Over the past four hours, 66% of Bitcoin traders have chosen to go long, and the long/short ratio now indicates a bullish trend.

Odaily Planet Daily reports that while a Bank of Japan (BOJ) interest rate hike is generally considered unfavorable for risk assets as it could lead to higher yen borrowing costs and trigger the unwinding of carry trades, Bitcoin's price surged from $85,200 to $88,000 within five hours following the BOJ's rate hike. This suggests that the market had already priced in the rate hike, and investors were not in a rush to convert risk assets into yen. The Bitcoin long/short ratio (the ratio of net long positions to net short positions) shows a bullish bias, with 66% of traders choosing to go long over the past four hours. (CoinDesk)