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As FED Chair Jerome Powell’s speech on the U.S. economic outlook looms ahead, whales are bracing themselves for a potential market crash by shorting several altcoin positions. Summary Crypto whales are heavily shorting major altcoins ahead of Powell’s speech amid renewed trade tensions and market volatility on October 14 in Philadelphia. The crypto community is preparing for potentially hawkish signals from the Fed, prompting them to hedge against downside risks and lock in profits amid fears of an imminent crypto market crash. On Oct. 14, Federal Reserve Chair Jerome Powell is scheduled to deliver a speech covering the state of U.S. economy and monetary policy at the National Association for Business Economics annual meeting in Philadelphia. According to the official calendar for the Board of Governors of the Federal Reserve System, the speech is set to take place at 12:20 pm local time and will be titled “Economic Outlook and Monetary Policy.” Powell’s upcoming speech comes at a time of growing economic volatility, with global markets still reeling from renewed trade tensions between the U.S. and China after fresh tariffs reignited talk of a potential trade war. The crypto market has also experienced a series of sharp corrections recently. Ethereum (ETH) has fallen below the $4,000 mark, while Bitcoin (BTC) is down 2.88% over the past 24 hours. Meanwhile, the crypto fear and greed index dropped from a Greed level of 64 at the end of last week to a Fear level of 27 this weekend, its lowest in six months. Whales have been shorting altcoin positions ahead of Jerome Powell’s speech on economic outlook | Source: Lookonchain Traders are bracing themselves for more market volatility that is expected to accompany Powell’s speech. According to on-chain analysis platform LookOnChain, several whales on Hyperliquid (HYPE) are heavily deploying short positions on…