Panic sentiment emerging? Ahead of Powell's speech, whales are heavily shorting BTC, XRP, DOGE, and PEPE.

As Fed Chairman Jerome Powell is about to deliver an important speech, the cryptocurrency market is facing immense pressure from selling and speculative shorting. On-chain data shows that top traders, including a Whale referred to as "Trump insider", are massively opening short positions on Bitcoin and mainstream alts, betting that the market will experience a significant pullback or "crash" again. Under the policy uncertainty triggered by Powell's speech, the prices of major Tokens such as XRP and DOGE have seen slight falls.

"Trump Insiders" Lead: Whales Heavily Shorting

The on-chain data platform Lookonchain reports that several top whales with substantial floating profits are actively building short positions, anticipating a significant profit-taking pullback or flash crash in the market.

· Historical precision predictor: The address known as "Trump insider Whale" accurately shorted $700 million worth of BTC and $350 million worth of ETH before the previous largest crash in the crypto market, earning a profit of $200 million.

· Short positions accumulation: This Whale has further increased its Bitcoin short positions to $492 million, currently holding $9 million in floating profit, with a liquidation price at $124,420.

· Diversified shorting: Other Whales have also joined the shorting ranks:

• Whale 0x9eec9 has a profit of 31.8 million USD and currently holds short positions worth 98 million USD, including DOGE, ETH, PEPE, XRP, and Aster.

• Whale 0x9263 has a profit of 13.2 million USD and has opened short positions of 84 million USD on Solana (SOL) and Bitcoin.

This behavior indicates that top traders have a pessimistic outlook on the short-term market and are engaging in high-leverage speculation taking advantage of the uncertainty before Powell's speech.

Powell's Speech Eve: Market Sentiment Becomes Cautious

The crypto market is closely watching the speech of Fed Chairman Powell today, as his remarks often have a significant impact on global financial markets, especially on the liquidity-sensitive crypto market.

· Focus: The market expects Powell to provide clues on the direction of monetary policy, rising inflation amid a weak labor market, and economic issues such as the government shutdown.

· Policy Impact: Any hint of the Fed lowering interest rates could stimulate a rebound in risk assets, but if more "hawkish" (tightening monetary policy) signals are released, it could trigger a large-scale dumping.

· Token reaction: Under concerns, major altcoins have experienced a pullback:

• XRP has fallen nearly 2% in the past 24 hours, with trading volume further declining by 17%, and is currently priced around $2.53.

• DOGE price fell by more than 1% to 0.206 dollars. As the price approaches the 200-day moving average, further declines may trigger profit-taking.

• Pepe Coin (PEPE) Despite a pullback in some of its gains, there is still a slight increase, indicating that the speculative enthusiasm in the Meme coin sector continues to support its price to some extent.

Conclusion

Whales are massively opening short positions ahead of Fed Chairman Powell's speech, indicating that market concerns over a significant pullback in the short term have reached a peak. These large speculative bets, combined with the price declines of major tokens like XRP and DOGE, highlight the market's vulnerability as it awaits key macroeconomic signals. Traders are holding their breath for Powell's remarks, as his policy guidance will determine whether the crypto market faces another "crash" or experiences a rebound due to interest rate cut expectations.

Please remember that Whale behavior is only one of the indicators of market sentiment and does not constitute investment advice. The Crypto Assets market is highly volatile; always conduct thorough research and risk assessment before investing.