What Crypto Whales Are Buying and Selling Ahead of the June FOMC Meeting

The Federal Reserve decides rates today. Even with no cut expected, the tone new Chair Kevin Warsh sets could shift sentiment. That has crypto whales positioning with caution.

BeInCrypto analysts tracked on-chain flows across three tokens where large holders paired spot moves with perps hedges. They are accumulating some, fading one, and bracing for a possible squeeze ahead of the FOMC meeting.

Chainlink (LINK)

The oracle leader sits at the center of the crypto whales debate. Spot accumulation and derivatives positioning point in opposite directions ahead of the Fed.

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On-chain data shows whale spot balances climbed from 664.2 million LINK on June 12 to 668.18 million now. That is an addition of nearly 4 million tokens worth about $33 million, with fresh pickups on June 15 and June 17. The whale accumulation lines up with real adoption.

FIFA’s prediction-market partner adopted Chainlink as its exclusive oracle. The DTCC also tapped its data standard for a collateral platform a few months back. Wallets holding at least 1 LINK hit 535,650, the highest since 2022, giving spot whales the much needed sentimental push.

Derivatives tell a different story. Over the past two days, all three cohorts on Nansen turned net short, a clear bearish tilt from sophisticated traders. Smart money shorts sit in profit, while the largest whale long is down about $1.3 million.

The split defines the setup. Spot buyers treat the macro uncertainty as a value entry, betting on Chainlink’s expanding utility. Leveraged desks lean short into the Fed instead, bracing for near-term downside. Tonight’s FOMC decision is the pivot that decides which side is early.

Uniswap (UNI)

Uniswap’s rally over the past 24 hours put it among the week’s biggest gainers, but it now meets a more cautious whale cohort. Spot selling and net short perps suggest large holders are fading the move into the Fed.

Whale spot balances fell from 780.50 million UNI on June 15 to 778.53 million now. That is a drop of nearly 2 million tokens. The selling began as UNI surged on Standard Chartered’s $100 price target and its new tokenized stocks. Price is up about 23% today despite the distribution, yet whales trimming into strength often warns of resistance ahead.

The perps side leans the same way. Over the past seven days, whales and smart money on Nansen moved net short. The bias deepened as price rose. Smart money holds about 95% of its exposure short, a decisive directional call. One whale short opened near $8 sits up about $688,000 (selling incentive), while a $1.4 million long entered at $6.37 is trapped well below the mark.

Like Chainlink, Uniswap whales pair their spot move with a perps short. The difference is direction. Chainlink whales hedge accumulation, while Uniswap whales trim spot and short the bounce. That reads as profit-taking into a sharp rally rather than fresh conviction. Tonight’s FOMC decision will test whether the fade holds or the breakout extends.

Ondo Finance (ONDO)

The leading real-world asset token closes the set with the cleanest accumulation, yet the perps book hides a catch. Spot buyers are loading up while the derivatives crowd leans hard the other way.

Whale spot supply climbed from 7.82 billion ONDO on June 13 to 7.9 billion now. That is an addition of about 80 million tokens, and the buying picked up again in the past few hours. The accumulation rides the RWA narrative. Ondo leads tokenized treasuries with total value locked near $3.7 billion, and it just hired an ETF veteran for on-chain portfolios. Standard Chartered also projected a $2.7 trillion DeFi market by 2030.

The catch sits on Hyperliquid per Nansen data. Crypto whales, smart money, and public figures are all net short, roughly $2.56 million combined, with only one visible long. Shorts cluster between $0.38 and $0.54 (per positioning data), a clear bet that price stays capped. Yet ONDO is up about 7% on the week. With spot buying building under it, a push higher could force the crowded shorts to cover and fuel a squeeze.

Like Chainlink, Ondo whales pair spot accumulation with perps shorts, classic swing hedging. Across all three tokens, the perps shorts read as caution into the Fed decision. No rate cut is expected. But the tone Warsh sets could justify the hedges, or trigger the squeeze that traps them.

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