Crypto Whales Shuffle $693M in Chainlink (LINK)—Bullish or Bailout?

Whale wallets just moved a staggering $693 million worth of LINK—the kind of transaction that makes retail traders spill their coffee. Chainlink’s oracle network remains critical infrastructure, but let’s be real: when the big fish swim, someone’s usually about to get eaten.

Was this a strategic accumulation or pre-dump positioning? The blockchain doesn’t lie—but it also doesn’t explain. Meanwhile, Wall Street still thinks ’oracle’ is something you ask for stock tips.

LINK’s Next Move

Chainlink LINK recently hit $16 thanks to heightened weekly exchange outflows worth approximately $11.27 million. Last week, the crypto industry saw Bitcoin experience a game-changing surge that could ignite a shifting sentiment for the industry. Indeed, the asset reached a new all-time high of $111,000 before retreating to close the week. That is a driving reason behind bulls grabbing hold of LINK’s momentum. However, the market correction this past week has slowed that momentum. Now, the Chainlink cryptocurrency sits below $15.

Traders are eyeing key levels on the LINK/USDT charts for where Chainlink could go next. LINK currently faces resistance in 2025 at $20, a level where sellers have stepped in before. A push past that could send LINK toward a $25–$26 area. Beyond lies a mid-term target of $28–$30, matching late-2024 highs. Alternatively, the longer LINK stalls at $15 or below, the higher the chance the asset could fall further in June.