Chainlink Whale Withdraws $13.2M, Price Holds Steady Above Key Support

A large Chainlink holder withdrew $13.2 million in LINK tokens from exchanges over a week, but despite this significant accumulation, the price remained subdued and held above its key support level of $8.18.

The whale's withdrawal reduced the available supply on exchanges, which could lower immediate selling pressure, but the market response was measured, and Chainlink did not stage a notable rally.

Market observers noted that LINK's price traded above fragile short-term support, reflecting hesitant demand and moderate participation from buyers.

The derivatives market showed a clear bullish tilt, with 69.8% of positions being long, but this optimistic positioning can create risks if the price declines suddenly, leading to forced liquidations and increased selling pressure.