Chainlink Price Drops Amid Short-Term Selling Pressure Despite Institutional Gains

Chainlink's price has dropped by 7.1% in recent trading, despite continued institutional adoption and partnerships.

The decline is attributed to short-term selling pressure, with the price falling below its 20-day moving average at $11.72.

However, the medium- and long-term bullish structure remains intact, supported by recent integrations and institutional inflows reaching over $150 million in mid-September.

Chainlink's partnership with Bottomline, connecting off-chain banking infrastructure to multiple blockchains, has been a key driver of its growth.