Chainlink Price Holds Firm as BitGo Migrates $7.7B WBTC to CCIP

Chainlink's price has remained steady after BitGo announced it would use Chainlink's Cross-Chain Interoperability Protocol (CCIP) to migrate its $7.7 billion Wrapped Bitcoin (WBTC). This move strengthens Chainlink's institutional adoption narrative, as WBTC is one of the largest tokenized Bitcoin assets in the market.

The price of Chainlink has been trading around $8.20, holding above immediate support near $8.15. However, it remains below its 50-day and 200-day moving averages, indicating short-term buyers are active while the broader trend is yet to turn bullish.

According to CoinGlass, Chainlink's open interest has remained above $400 million, suggesting traders continue to maintain leveraged positions despite limited price movement. A sustained move above $8.72 would confirm renewed buying strength and shift attention toward the 200-day moving average near $9.01.