Bitcoin Stalls at $63K as Chainlink Breaks Out

Bitcoin's recent correction has left it struggling at $63,000 after dropping to a new local low of $62,500. The asset had been in a downtrend for several days, with each leg down becoming more painful than the previous.

The bears took control of the market by mid-week, and selling pressure intensified in the following days. However, bitcoin finally found some support at $62,500 and has since stabilized around $63,000.

On the other hand, Chainlink (LINK) is breaking out with a daily gain of over 5% and has reclaimed the $9 support level. Analysts have been optimistic about LINK's future, predicting massive rallies in the past.