Chainlink (LINK) has remained one of the most closely watched altcoins since the October 10 market crash, as investors and analysts position for the next major market phase. Despite the broader crypto downturn, Chainlink’s network strength and growing on-chain activity have kept it in focus as a potential leader of the next bullish wave.
Recent on-chain data shows a clear accumulation trend among whales, signaling renewed confidence in the project’s long-term value. Large holders have been steadily adding to their LINK positions since the crash, suggesting that institutional and high-net-worth investors view current levels as an opportunity rather than a risk.
Analysts argue that once market volatility subsides and Bitcoin confirms its next direction, LINK could experience an outsized recovery driven by strong fundamentals and increased adoption of Chainlink’s oracle infrastructure. The project’s expanding presence across DeFi, tokenization, and real-world data integration continues to position it as one of the most strategically important assets in the Web3 ecosystem.
For now, all eyes are on Chainlink’s resilience — as the market searches for stability, LINK’s accumulation behavior may be laying the groundwork for one of the most compelling rebounds in the next bullish phase.
Whales Withdraw Nearly $190M in LINK — A Strong Signal of Accumulation
According to Lookonchain, a total of 39 new wallets have withdrawn 9.94 million LINK — worth approximately $188 million — from Binance since the October 10 market crash. This large-scale movement of funds suggests that whales are accumulating Chainlink, potentially in anticipation of a market rebound.
Withdrawals of this magnitude are often interpreted as a bullish signal, as investors typically move assets off exchanges when they intend to hold them long-term rather than sell. It reflects growing confidence among large holders, who may view current prices as a strategic entry point. The timing also coincides with a broader phase of market uncertainty, reinforcing the idea that sophisticated investors are quietly positioning ahead of the next major move.
The significance of this pattern goes beyond price speculation. Whales accumulating LINK may also indicate long-term belief in Chainlink’s fundamental role within decentralized finance (DeFi) and real-world asset tokenization. As the leading oracle network, Chainlink secures data feeds and enables interoperability between blockchains — making it an essential layer in the Web3 infrastructure stack.
If accumulation continues and market sentiment stabilizes, LINK could emerge as one of the key outperformers in the next crypto upcycle. Historically, similar accumulation phases have preceded major rallies in Chainlink’s price, particularly when exchange reserves decline and on-chain activity rises.
In short, this $188 million withdrawal wave signals that large investors are accumulating with conviction, reducing selling pressure on exchanges and tightening supply — a setup that could pave the way for significant upside once broader market conditions turn favorable.
Chainlink Holds Above Key Support As Whales Accumulate
The weekly chart shows Chainlink (LINK) trading around $18.58, holding relatively stable after weeks of volatility following the October 10 crash. Despite the broader market uncertainty, LINK has managed to defend its key support zone near $16, which aligns with the 200-week moving average — a crucial long-term level watched by traders.
Price action indicates consolidation above this support, with the 50-week moving average flattening and beginning to converge with the 100-week. This setup often signals the early stages of a structural base before a potential breakout, provided that buying momentum increases. The fact that whales have withdrawn nearly $188 million worth of LINK from exchanges reinforces this narrative, as such accumulation tends to tighten available supply and reduce selling pressure.
Volume has also stabilized after a spike during the crash, suggesting that panic selling has cooled off. For a confirmed bullish shift, LINK needs to reclaim the $20–$22 resistance zone, which previously acted as both support and rejection during mid-year rallies.
The chart reflects a period of healthy consolidation backed by on-chain accumulation. If Bitcoin stabilizes and macro conditions improve, LINK could be among the first altcoins to recover strongly, extending its long-term uptrend.
Featured image from ChatGPT, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
#Whales #Double #Chainlink #188M #Moved #Binance #PostCrash