Crypto Whales Embrace High-Risk Short Selling Amidst Volatility

A new report from blockchain analysis firm LookOnChain reveals a shift in tactics among influential cryptocurrency investors, known as whales. These large players are increasingly utilizing high leverage in their short selling strategies, targeting altcoins such as XRP and Ethereum (ETH). This development comes amid heightened market volatility and looming macroeconomic risks, with Federal Reserve Chairman Jerome Powell’s upcoming address expected to significantly impact the crypto market.