Whale sell-off pushes over 4M LINK into the market as price drops to $19
A sale of massive whales flooded the market with more than 4 million links, which lowered the price to $ 19.
Crypto analyst Ali Martinez shared his observation A post Xstressing that large holders controlling between 1 million and 10 million channel channels (LINK) reduced their assets to more than 4 million links from February 2, 2025.
The drop in whale assets seems to have dropped down the price of Link, which increased from more than $ 21 to $ 19. A similar sale of whales took place at the end of January, resulting in a price drop from about $ 26 to $ 22.
Since no major negative News on Chainlink has surfaced, this sale is probably due to the profit, because Link recently exchanged above $ 25, according to Co Ringecko. In addition, the broader feeling of the cryptography market fueled by the recent implementation of Prices for US President Donald Trump may have played a role. These prices, affecting imports of Mexico, Canada and China, have led to increased volatility on the market and have very much prompted positions in more risky assets such as Chain link.
On the technical front, Crypto Trader Nebraskangooner told his 375K followers on X This link is currently in the consolidation phase. He warned that ventilation below the key support could potentially push Link as low as $ 12.00. However, a break above the resistance could open the way to new local heights and a potential upward trend. “I prefer to wait for a consolidation break to get lost in the rib side inside,” he noted.
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