Chainlink LINK Supply Squeeze Intensifies: Is a Major Bull Run Imminent?

Chainlink LINK News - Exchange supply levels for Chainlink's LINK token continue to decline, extending a multi-year trend that began in mid-2023. Data from CryptoQuant shows reserves on exchanges have dropped to 161.8 million tokens, coinciding with a 230% price surge since the $6-$7 range. Dwindling exchange reserves typically reduce selling pressure, creating conditions for potential bull runs. Glassnode data reveals nearly 90% of LINK holders are currently in profit—a level last seen during July's rally. While this signals strong bullish momentum, it also raises the risk of profit-taking pullbacks. The supply-demand dynamics suggest any significant buying pressure could trigger outsized price movements given the constrained liquidity. Market participants are watching whether LINK's fundamentals can sustain the momentum as technical indicators approach historically sensitive levels.