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Crypto Whales Position Carefully Ahead of FOMC Decision Under Warsh

Whales are building positions in some tokens while hedging at the same time ahead of the FOMC decision. Warsh’s tone could shape crypto’s short-term direction.

By Zenz van der Wielen
• 2 min read
Crypto Whales Position Carefully Ahead of FOMC Decision Under Warsh

Key Takeaways

  • The Federal Reserve is making an interest rate decision today, and no cut is expected under Chairman Kevin Warsh.
  • Whales are building spot positions in Chainlink and Ondo Finance, while derivatives positions often stay short.
  • Uniswap whales are taking profits after a 23% jump and positioning cautiously for the Fed decision.

The Federal Reserve is making a major interest rate decision today, and no cut is expected. New Chairman Kevin Warsh, who has been at the helm since May 2026, is known for his monetarist approach and a tighter grip on inflation. That backdrop is pushing crypto whales to position carefully, adjusting their holdings across different tokens while they wait for the outcome.

Diverging Positions in Chainlink and Uniswap

Chainlink, a leading oracle project, is showing a clear split in how big holders are behaving. While whales’ spot balance rose by almost 4 million tokens, worth about $33 million (€28.5 million), derivatives positions are pointing to a downside view. Large traders on Nansen have turned net short over the past few days, which points to bearish sentiment despite Chainlink’s growing adoption, including through partnerships with FIFA and DTCC.

Uniswap is showing a different picture. Even after a strong price jump of about 23% in one day, whales are cutting their spot positions by almost 2 million tokens. They are also net short in perpetuals. That behavior suggests profit-taking after a rally, with the market possibly running into resistance. The mix of spot selling and short positions points to a wait-and-see stance ahead of the Fed decision.

Ondo Finance Shows Accumulation With a Hedge

Ondo Finance, a major player in tokenized real-world assets, is showing the most consistent whale accumulation. The spot balance rose by about 80 million tokens, which lines up with growing interest in tokenized treasuries and expectations for major growth in the DeFi market according to analysis from firms including Standard Chartered.

At the same time, derivatives positions are notably short, with a concentrated bet between $0.38 (€0) and $0.54 (€0). That hedge may point to caution, with spot buyers protecting themselves against possible price pressure. If the price moves higher, it could trigger a short squeeze, forcing short positions to cover.

Warsh’s Policy Impact on the Crypto Market

The first FOMC meeting under Kevin Warsh is marked by keeping the current interest rate at 3.50% to 3.75%. Warsh’s preference for less forward guidance and a stricter approach to inflation could lead to more volatility in the markets. That uncertainty is showing up in whales’ hedging behavior, as they prepare for possible price swings. The Fed decision and the tone Warsh sets will be key in shaping the crypto market’s short-term direction.

These developments matter for European crypto investors because they offer a look at how major market players are reacting to macro signals from the United States. The mix of spot accumulation and derivatives hedging highlights the importance of solid risk management in an uncertain market environment.

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