Chainlink LINK Holds Firm at $23 as Institutional Demand Offsets Market Jitters

Chainlink (LINK) continues to hold steady above the $23.00 support level, showing resilience despite broader market risk-off sentiment. The oracle token remains 16% below its August peak of $27.85, reflecting ongoing macroeconomic pressures.

Institutional interest in LINK is growing, with $3.6 million in capital inflows recorded last week. Total assets under management now stand at $137 million, while year-to-date inflows reach $33 million. The token's technical structure remains bullish, trading above key moving averages with a confirmed SuperTrend buy signal.

Market participants are anticipating potential Federal Reserve rate cuts, with an 87.6% probability priced in for a 25 basis point reduction. Such monetary easing could provide positive momentum for risk assets including cryptocurrencies.