Bitget Sees Major LINK Whale Movement as Chainlink Tests Critical Support

Chainlink (LINK) is currently at a pivotal juncture, with significant whale activity and technical indicators shaping its market trajectory. A substantial transfer of 1,788,188 LINK (valued at $25.5 million) from Bitget to an undisclosed wallet has sparked speculation about accumulation, potentially reducing immediate selling pressure. Analysts are closely monitoring the $12.30 support level, as a breach could signal further downside. This article delves into the latest developments surrounding LINK, including whale movements, technical analysis, and market sentiment, providing a comprehensive overview of what traders and investors need to watch in the coming days.

Chainlink (LINK) Price Faces Pivotal Moment Amid Whale Activity and Technical Support Test

Chainlink’s native token LINK is experiencing heightened volatility as whale transactions and technical patterns converge to shape market sentiment. A notable transfer of 1,788,188 LINK ($25.5 million) from Bitget to an undisclosed wallet suggests accumulation, potentially reducing immediate sell-side pressure.

Analysts highlight $12.30 as a critical support level, with a breach threatening the bullish channel that has sustained LINK’s uptrend since 2023. The absence of subsequent exchange deposits reinforces speculation of long-term holding by institutional players.

Market observers now watch whether the $12.30 floor holds or if bears will force a retest of the $8.38 secondary support level. The whale movement coincides with this technical inflection point, creating a narrative tension between accumulation signals and chart-based warnings.

Ethereum ETPs Outperform Bitcoin Amid Market Stagnation

Ethereum has stolen the institutional spotlight as its exchange-traded products (ETPs) attracted $321 million in inflows—the strongest weekly performance since December 2024. This surge coincides with Bitcoin’s stagnation NEAR $103,000, far below its recent highs, and Ethereum’s own price remaining capped under $2,800. The divergence highlights shifting capital flows beneath the market’s surface lethargy.

BlackRock’s Bitcoin ETF recorded $430.8 million in outflows, its worst day since launch, while XRP saw $28 million exit. Analysts point to Ethereum’s structural advantages and recent regulatory approvals as catalysts for institutional favor. "The technical setup reassures large players," notes Bitget Research’s Ryan Lee. On-chain data reveals 67% of ETH holders are currently profitable.

Michaël van de Poppe suggests a broader crypto rebound could materialize if bitcoin reclaims $106,000. Meanwhile, Ethereum’s altseason dominance—reportedly 250 times stronger than typical cycles—signals a potential rotation into smart contract platforms.