Cryptocurrency Whales Employ Aggressive Shortselling Amidst High Market Volatility

Recent analysis from blockchain platform LookOnChain reveals a shift in strategy among prominent cryptocurrency investors, known as whales, who are increasingly employing short-selling tactics on altcoins. Notably, XRP and Ethereum (ETH) are seeing aggressive short positions gain traction. However, this trend is accompanied by heightened market volatility and economic risks, such as the anticipated speech from Federal Reserve Chairman Jerome Powell. This event could significantly impact market balances.