Whales Dump 31 Million LINK as $12.61 Support Turns Into Critical Threshold
- Chainlink (LINK) whales offloaded 31.05M tokens as price fell from $17.90 to $12.61 amid heavy selling pressure. - Price volatility in November (14.05-16.36) and 2025 net flow shifts highlight ongoing market instability. - Analysts view whale activity as strategic distribution, not panic selling, amid crypto's macroeconomic challenges. - $12.61 support level becomes critical for determining potential large-scale price movements in bearish conditions.
In recent weeks, Chainlink (LINK) has seen notable activity from major holders, with whales selling off a total of 31.05 million tokens during a period of overall price decline. As reported by Ali Charts, the value of
Throughout November, LINK’s price has been highly volatile, swinging between $14.05 and $16.36. Although there were short-lived rebounds, the token has found it difficult to regain upward momentum,
Market analysts believe that the latest whale transactions are more indicative of strategic distribution than panic-driven selling. The sale of 31 million tokens aligns with notable price drops, suggesting that large investors are taking advantage of market weakness to reduce their positions. This behavior is consistent with broader patterns in the cryptocurrency sector, where macroeconomic challenges and a cautious market mood have prompted widespread asset sell-offs. Nevertheless, past data reveals that LINK has managed to bounce back after periods of heavy outflows. For example,
The prevailing bearish sentiment makes it difficult to forecast a swift turnaround. While the recent outflows have dampened LINK’s short-term prospects, its future performance may depend on renewed buying interest or a shift in overall market sentiment. Coinglass data emphasizes that net flows continue to be a crucial metric, as positive trends have historically been linked to price increases. Still,
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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