Chainlink Price Crash Ignites Crypto Liquidation Tsunami—Whale Activity Spikes! - BTC Hunts

2025-03-28 04:00:09

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The post Chainlink Price Crash Ignites Crypto Liquidation Tsunami—Whale Activity Spikes! appeared first on Coinpedia Fintech News

The cryptocurrency industry has experienced challenging market conditions since the second inauguration of U.S. pro-crypto President Donald Trump. The overall demand for stablecoins has gradually increased in the past few weeks, as short-term holders find themselves under increasing financial pressure

The wider altcoin market has followed Bitcoin (BTC) price in correction mode after the flagship coin was rejected above $88k in the past few days. Chainlink, a large-cap altcoin with a fully diluted valuation of about $14.7 billion and a 24-hour average trading volume of about $451 million, dropped nearly 6 percent in the past 24 hours to trade about $14.75 on Friday, March 28, during the early trading session for the Western financial markets.

Chainlink Price Expectations in Coming Weeks

Since the beginning of 2025, Chainlink price has been trapped in a falling logarithmic trend, coupled with lower highs and lower lows in the daily timeframe. As a result, the LINK price is likely to retest the lower border of a rising channel, around $13, in the coming weeks.

However, if the LINK price consistently closes above the resistance level of around $16, the bearish sentiment will be invalidated. Chainlink buyers must, however, flip the 100 and 200 Simple Moving Averages (SMA) into bullish sentiment to invalidate further downside risk.

Closer Look at LINK Fundamentals

Chainlink has seen a jump in social dominance across crypto social media following its hosting of a private meetup with key US government leaders. The #11 market cap has jumped +25% in value since March 10th.

Additionally, we are seeing growth from key stakeholder wallets… pic.twitter.com/YdoxjFFxin

— Santiment (@santimentfeed) March 28, 2025

The Chainlink network has grown into a vital tokenization chain, backed by the mainstream adoption of digital assets by institutional investors. According to on-chain data analysis from Santiment, long-term holders of Chainlink, with an account balance of between 10k and 10 million LINK, now have an all-time high balance of about 438.33 million coins

Most importantly, the Chainlink network has experienced a spike in social dominance amid the notable involvement of its leadership with the U.S. regulators

LINK2.47%

BTC1.63%

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