The Chainlink (LINK) cryptocurrency is on the mend on Monday, with price recovering over $12 after a dip below that mark on Sunday. The asset is down 22% in the last 30 days due to a broader crypto market decline. However, a recent pickup in whale activity is bringing back investor interest and could send LINK’s price towards a breakout from the recent downtrend.
Chainlink whale transactions have risen by over 3,373% in 24 hours, reaching $762.7 million in value amid broader crypto liquidations. One token unlock saw 17.875 million LINK worth $149 million deposited into Binance, fueling the transfer surge further. The timing of these whale moves aligns with a broad market sell-off, which led to $458 million in crypto liquidations. Typically, the whale’s moves hint at bullish optimism for a crypto asset. As a result, investors are hoping that LINK has bottomed out and could be preparing for a sharp breakout.
At press time, LINK is hovering around $12.10, up 3% today. Trading experts appear to be following the bullish path for Chainlink, strongly betting on the bullish side. CoinGlass data shows $9 million in long positions concentrated around the $12.55 mark, while shorters built $3 million in positions near $13.35. Not only would a rebound to this level give these betters a huge win, but the Chainlink LINK asset would etch its path back towards $14 and higher. Ultimately, the next week could prove pivotal for LINK’s immediate future.
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Furthermore, another factor hurting Chainlink LINK price right now is recent interest rate decisions. Federal Reserve officials recently kept US interest rates the same, causing some unrest among the right. Investors were hoping an interest rate cut would spark momentum for Chainlink and the rest of the crypto market. However, they may have to wait until the July Fed meeting for such a development. As a result, the crypto market experienced a $458M liquidation period.
According to analysis from CoinCodex, LINK could rise in the next month, but its price momentum remains bearish. “The price of Chainlink is predicted to rise by 3.20%and reach $ 11.88 by July 22, 2025,” the analysts write. “Per our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 47 (neutral).” Currently, the asset is above that mark, hinting at a further falloff.
