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$BTC reported at 84,240.1, down 3.03% in 24h, yet the retail long-short ratio rose from 0.8921 to 1.1668, while the large holder position ratio dropped from 1.9582 to 1.8639 — during the decline, retail investors are buying while large holders are retreating. The rise in Japanese interest rates transmits to crypto through carry trade funds: borrowing yen becomes more expensive, so leveraged funds first reduce risk exposure. Our data supports this: funding rates for three periods are 0.0003%, 0.0